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Joseph A Bank Clothiers is a men's retailer of profesional wear. It owns and operates over 400 stores throughout the United States. It also issues a catalogue four times a year.

Their main competitors are Brooks Brothers, Macy's Inc. (M), Nordstorm, Lands End and Men's Wearhouse (MW)[1].

In 2007 they reported gross sales of $604 million and net income of $50 million. JOSB has better margins than its competitors, reporting gross margin of 62.7%, operating margin of 13.7% and profit margin of 8.3% in 2007.

Managment believes they can expand the number of stores to 600 by 2012. They added 50 new stores in 2003, 60 in 2004, 56 in 2005, 52 in 2006, and 48 in 2007. At the end of fiscal year 2007 they had 422 stores[2]. JOSB has grown earnings by an average of 27% over the past 5 years and are expected to grow by about 12% over the next 5 years[3].

JOSB normally keeps more inventory in stock than other stores. This strategy focuses on having the appropriate clothing in store, so that the customer does not go elsewhere. This causes Joseph A Bank to have a lower inventory turnover ratio than competitors[4].

In September of 2008 JOSB announced that CEO Robert Wildrick wolud retire and assume the role of Chairman, while President R. Neil Black will become CEO and Andrew Giordano will assume the role of board member. This will become effective December 21, 2008[5].



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      [edit] References

      1. 2007 Annual Report pg 9[1]
      2. 2007 Annual Report pg 3 [2]
      3. Yahoo Finance [3]
      4. CNBC[4]
      5. Market Watch[5]
      6. 6.0 6.1 6.2 6.3 CTR, 2006 10-K, Item 6, Pg 13
      7. 7.0 7.1 Reuters
      8. 8.0 8.1 8.2 8.3 DSW, 2006 10-K, Item 6, Pg. 23
      9. 9.0 9.1 MarketWatch
      10. 2007 Annual Report
      11. 11.0 11.1 11.2 11.3 MW, 2006 10-K, Item 6, Pg. 15
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