HAMPSTEAD, Md., Jun 21, 2010 (BUSINESS WIRE) --JoS. A. Bank Clothiers, Inc. (Nasdaq Global Select Market: JOSB) announced that on June 17, 2010 the Company's Board of Directors declared a 50% stock dividend. Each shareholder of record as of July 30, 2010 will receive one additional share of common stock for every two shares then owned. As a result of the stock dividend, the number of outstanding shares of common stock will increase to approximately 27.5 million shares from approximately 18.4 million shares. The dividend shares and cash in lieu of fractional shares will be distributed on August 18, 2010.
"This decision by the Board of Directors recognizes the increase in the value of the Company's common shares since our last stock dividend due primarily to the growth the Company has achieved in its sales, earnings and cash flows over this period," commented R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. "We believe the stock dividend will enhance the Company's liquidity by making our common shares available to more investors and will ultimately result in increased shareholder interest in our stock," continued Mr. Black.
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 484 stores in 42 states and the District of Columbia, a nationwide catalog and an e-commerce website that can be accessed at http://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."
The Company's 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 forecast due to a variety of factors outside of the Company's control that can affect the Company's 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 the Company's growth strategy, including the ability of the Company to finance its 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 the Company's marketing programs, the availability of suitable lease sites for new stores, doing business on an international basis, the ability to source product from its global supplier base, legal matters and other competitive factors. The identified risk factors and other factors and risks that may affect the Company's business or future financial results are detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended January 30, 2010 and the Company's subsequent Quarterly Reports filed through the date hereof. These cautionary statements qualify all of the forward-looking statements the Company makes herein. The Company cannot assure you that the results or developments anticipated by the Company will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for the Company or affect the Company, its business or its operations in the way the Company expects. The Company cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. The Company does not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in the Company's assumptions, estimates or projections. These risks should be carefully reviewed before making any investment decision.
SOURCE: JoS. A. Bank Clothiers, Inc.
JoS. A. Bank Clothiers, Inc., Hampstead, Md.
David E. Ullman
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.: