Joseph A. Banks – Another Quarter, Same Great Story

Jos A. Bank (JOSB) reported decent numbers yesterday: sales grew 10%. It's not a blow out number but a respectable number for this environment.

Joseph A. Banks – Another Quarter_ Same Great Story

Jos A. Bank (JOSB) reported decent numbers yesterday: sales grew 10%. It’s not a blow out number but a respectable number for this environment. Profit margins have expanded as corporate expenses are leveraged across a larger store base, driving earnings growth to 27%.

At some point its advertising expenses will start declining as percent of sales and margins should go up further. At today’s incredibly cheap valuation of 10x 2007 earnings, all the company had to do is be able to fog a mirror – they did a lot more than that. It seems that this performance has legs as same store sales in November came in at 15%.

I wrote several articles in the past, little have changed since. Well, except earnings are up in 30-40%, inventory is not a concern anymore and stock price is back to where it was then.

Please read the following important disclosure here.

Enjoyed this read?

Share it with someone who’d love it too!

New to investing?

Explore these valuable guides to get started.

Value Investing
Student
Curriculum

The 6
Commandments
of Value
Investing

Letter to
a Young
Investor

Related Articles

Current thoughts on Tesla (TSLA)

Current thoughts on Tesla

Tesla market value of $780 billion mostly reflects Elon's future dreams, not car sales. The reality? Only $100-180 billion tied to the actual vehicle business.
Europe Can’t Hide Behind America Anymore

Europe Can’t Hide Behind America Anymore

Americans have always outspent Europe on defense, but to be fair, we have a currency advantage. Our military might elevated our currency to reserve status.
Europe’s New Status: The Children’s Table (IMA Client Dinner 2025 Video)

IMA’s March 2025 Client Dinner Video

Once a year, my company, IMA, hosts a dinner for our clients. Most of them live outside of Denver—and many outside the U.S.—so this event gives us a rare and meaningful chance to meet face-to-face, often for the first time, and really get to know each other.
The Reputational Bankruptcy of the American Dollar

The Reputational Bankruptcy of the American Dollar

The US dollar will likely continue to get weaker, which is inflationary for the US. Let me start with some easily identifiable reasons.

Leave a Comment