Bank Jos A Clothiers (JOSB) 8-K JoS. A. Bank Clothiers Reports 25% Increase in Profits for Second Quarter of Fiscal Year 2011

Exhibit 99.1

JoS. A. Bank Clothiers Reports 25% Increase in Profits for Second Quarter of Fiscal Year 2011

HAMPSTEAD, Md.--(BUSINESS WIRE)--August 31, 2011--JoS. A. Bank Clothiers, Inc. (NASDAQ Global Select Market: JOSB) announces that net income for the second quarter of fiscal year 2011 increased 24.7% to $20.6 million as compared with net income of $16.5 million for the second quarter of fiscal year 2010. Earnings per share for the second quarter of fiscal year 2011 increased 25.4% to $0.74 per share as compared with earnings per share of $0.59 for the second quarter of fiscal year 2010. The second quarter of fiscal year 2011 ended July 30, 2011; the second quarter of fiscal year 2010 ended July 31, 2010.

Total sales for the second quarter of fiscal year 2011 increased 22.4% to $230.7 million from $188.4 million in the second quarter of fiscal year 2010, while comparable store sales increased 14.7% and Direct Marketing sales increased 27.8%.

Comparing the first six months of fiscal year 2011 with the first six months of fiscal year 2010, net income increased 18.8% to $38.4 million as compared to $32.3 million and earnings per share increased 18.1% to $1.37 per share as compared to $1.16 per share. Total sales for the first six months of fiscal year 2011 increased 15.7% to $423.9 million from $366.5 million for the first six months of fiscal year 2010, while comparable store sales increased 7.6% and Direct Marketing sales increased 25.0%.

“We are pleased with our sales and earnings performance for the second quarter of fiscal year 2011. While the components of our income statement may fluctuate somewhat from quarter to quarter, our business model, which features an aggressively sourced, high-quality, well-balanced, fully-stocked assortment that is promoted with timely marketing and sold by knowledgeable professionals in convenient locations, continues to deliver strong earnings growth over time. With this quarter’s results, we have achieved earnings growth in 39 of the past 40 quarters when compared to the respective prior year periods, including 21 quarters in a row,” stated R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. “While sales are just one component of overall profit and August is a relatively small sales month, our comparable store sales in August are up slightly compared to the same period last year, despite the impact of the recent hurricane,” continued Mr. Black.

A conference call to discuss the second quarter of fiscal year 2011 earnings will be held Thursday, September 1, 2011 at 11:00 a.m. Eastern Time (ET). To join in the call please dial (USA) 800-230-1092 or (International) 612-234-9960 at least five minutes before 11:00 a.m. ET. A replay of the conference call will be available after 1:00 p.m. ET on September 1, 2011 until September 8, 2011 at 11:59 p.m. ET by dialing (USA) 800-475-6701 or (International) 320-365-3844. The access code for the replay will be 214845. In addition, a webcast replay of the conference call will be posted on the investor relations section of our website: www.josbank.com (select “Company Information” and “Investor Relations”).

All earnings per share amounts in this news release represent diluted earnings per share adjusted for the 50% stock dividend that the Company announced on June 17, 2010, under which stockholders of record as of July 30, 2010 received one additional share of common stock for each two shares then owned. The stock dividend was distributed on August 18, 2010.

JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation’s leading designers, manufacturers and retailers of men’s classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 529 stores in 42 states and the District of Columbia, a nationwide catalog and an e-commerce website that can be accessed at www.josbank.com. The Company is headquartered in Hampstead, Md., and its common stock is listed on the Nasdaq Global Select Market under the symbol “JOSB.”

Our statements concerning future operations contained herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those forecasted due to a variety of factors outside of our control that can affect our operating results, liquidity and financial condition. Such factors include risks associated with economic, weather, public health and other factors affecting consumer spending, including negative changes to consumer confidence and other recessionary pressures, higher energy and security costs, the successful implementation of our growth strategy, including our ability to finance our expansion plans, the mix and pricing of goods sold, the effectiveness and profitability of new concepts, the market price of key raw materials such as wool and cotton, seasonality, merchandise trends and changing consumer preferences, the effectiveness of our marketing programs, the availability of suitable lease sites for new stores, doing business on an international basis, the ability to source product from our global supplier base, legal matters and other competitive factors. The identified risk factors and other factors and risks that may affect our business or future financial results are detailed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended January 29, 2011 and our subsequent Quarterly Reports on Form 10-Q filed through the date hereof. These cautionary statements qualify all of the forward-looking statements we make herein. We cannot assure you that the results or developments anticipated by us will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for us or affect us, our business or our operations in the way we expect. We caution you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. We do not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in our assumptions, estimates or projections. These risks should be carefully reviewed before making any investment decision.

JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
	Three Months Ended				Six Months Ended
	July 31, 2010		July 30, 2011		July 31, 2010		July 30, 2011
	(In thousands, except per share information)
Net sales	$188,412		$230,662		$366,537		$423,932
Cost of goods sold	70,082		86,755		134,891		154,712
Gross profit	118,330		143,907		231,646		269,220
Operating expenses:
Sales and marketing, including occupancy costs	73,748		88,120		144,267		166,972
General and administrative	17,175		21,189		33,911		38,613
Total operating expenses	90,923		109,309		178,178		205,585
Operating income	27,407		34,598		53,468		63,635
Other income (expense):
Interest income	159		83		274		215
Interest expense	(5	)	(18	)	(95	)	(21	)
Total other income (expense)	154		65		179		194
Income before provision for income taxes	27,561		34,663		53,647		63,829
Provision for income taxes	11,082		14,109		21,360		25,465
Net income	$ 16,479		$ 20,554		$ 32,287		$ 38,364
Per share information:
Earnings per share:
Basic	$0.60		$0.74		$1.17		$1.39
Diluted	$0.59		$0.74		$1.16		$1.37
Weighted average shares outstanding:
Basic	27,527		27,749		27,527		27,686
Diluted	27,827		27,958		27,823		27,944

Note: The foregoing unaudited Consolidated Statements of Income are excerpts from our unaudited Consolidated Financial Statements for the three and six months ended July 31, 2010 and July 30, 2011 and do not include the Notes, which are considered an integral part thereof. The foregoing unaudited financial information should be read in conjunction with the Company's Quarterly Report on Form 10-Q for the quarterly period ended July 30, 2011 which was filed with the Securities and Exchange Commission on August 31, 2011.

JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
	January 29, 2011		July 30, 2011
	(In Thousands)
	(Audited)		(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	80,979	$	92,691
Short-term investments		189,789		176,975
Accounts receivable, net		9,525		13,453
Inventories:
Finished goods		222,251		256,570
Raw materials		11,059		15,837
Total inventories		233,310		272,407
Prepaid expenses and other current assets		19,494		22,843
Total current assets		533,097		578,369
NONCURRENT ASSETS:
Property, plant and equipment, net		128,603		133,223
Other noncurrent assets		337		310
Total assets	$	662,037	$	711,902
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	31,505	$	45,862
Accrued expenses		88,165		80,255
Deferred tax liability – current		5,276		5,303
Total current liabilities		124,946		131,420
NONCURRENT LIABILITIES:
Deferred rent		49,279		48,895
Deferred tax liability – noncurrent		4,147		5,271
Other noncurrent liabilities		989		1,478
Total liabilities		179,361		187,064
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Common stock		275		277
Additional paid-in capital		86,792		90,588
Retained earnings		395,531		433,895
Accumulated other comprehensive income		78		78
Total stockholders’ equity		482,676		524,838
Total liabilities and stockholders’ equity	$	662,037	$	711,902

Note: The foregoing audited and unaudited Consolidated Balance Sheets are excerpts from our Consolidated Financial Statements (as of January 29, 2011 and as of July 30, 2011) and do not include the Notes, which are an integral part thereof. The foregoing financial information should be read in conjunction with the Company’s Quarterly Report on Form 10-Q for the quarterly period ended July 30, 2011 and the Annual Report on Form 10-K for the fiscal year ended January 29, 2011, which were filed with the Securities and Exchange Commission on August 31, 2011 and March 30, 2011, respectively.

JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(Unaudited)
	Six Months Ended
	July 31, 2010			July 30, 2011
	(In Thousands)
Cash flows from operating activities:
Net income	$	32,287		$	38,364
Adjustments to reconcile net income to net cash provided by
(used in) operating activities:
Depreciation and amortization		11,802			12,595
Loss on disposals of property, plant and equipment		91			122
Non-cash equity compensation		234			1,369
Increase (decrease) in deferred taxes		(1,358	)		1,151
Net (increase) in operating working capital and other components		(17,988	)		(43,093	)
Net cash provided by (used in) operating activities		25,068			10,508
Cash flows from investing activities:
Capital expenditures		(12,471	)		(14,039	)
Proceeds from maturities of short-term investments		99,895			189,789
Payments to acquire short-term investments		(44,850	)		(176,975	)
Net cash provided by (used in) investing activities		42,574			(1,225	)
Cash flows from financing activities:
Income tax benefit from exercise of stock options		-			1,883
Net proceeds from exercise of stock options		-			546
Net cash provided by financing activities		-			2,429
Net increase in cash and cash equivalents		67,642			11,712
Cash and cash equivalents – beginning of period		21,853			80,979
Cash and cash equivalents – end of period	$	89,495		$	92,691

Note: The foregoing unaudited Consolidated Statements of Cash Flows are excerpts from our unaudited Consolidated Financial Statements for the six months ended July 31, 2010 and July 30, 2011 and do not include the Notes, which are considered an integral part thereof. The foregoing unaudited financial information should be read in conjunction with the Company's Quarterly Report on Form 10-Q for the quarterly period ended July 30, 2011, which was filed with the Securities and Exchange Commission on August 31, 2011.

CONTACT:
JoS. A. Bank Clothiers, Inc., Hampstead, Md.
David E. Ullman
EVP/CFO
410-239-5715

or Investor Relations Information Request Website (http://phx.corporate-ir.net/phoenix.zhtml?c=113815&p=irol-inforeq),
or Investor Relations Voicemail, 410-239-5900

E-commerce Address for JoS. A. Bank Clothiers, Inc.:
www.josbank.com