Jos. A. Bank Reports Results for First Quarter of Fiscal Year 2014

Jos. A. Bank Reports Results for First Quarter of Fiscal Year 2014

         Adjusted Earnings Per Share Increased 10.3% for the Quarter

             Total Sales Up 10.9%; Comparable Brand Sales Up 8.4%

HAMPSTEAD, Md., June 6, 2014 (GLOBE NEWSWIRE) -- Jos. A. Bank Clothiers, Inc.
(Nasdaq:JOSB) (the "Company" or "Jos. A. Bank") today announced that adjusted
earnings per diluted share were $.32 for the first quarter of fiscal 2014,
representing a 10.3% increase compared to adjusted earnings per diluted share
of $.29 in the first quarter of fiscal 2013. Adjusted net income was $9.0
million for the first quarter of fiscal 2014 compared to $8.1 million in the
same period in fiscal year 2013.

R. Neal Black, President and CEO, said, "We are pleased to have continued the
positive trend of increases in adjusted earnings that started in the second
half of 2013. Comparable brand sales increased by double digits in the first
two months of the quarter but then slowed after Easter resulting in a strong
8.4% increase for the quarter. As we begin the second quarter, we had solid
sales again in fiscal May 2014 as we generated an estimated total sales gain
of approximately 7.7%. However, our gross profit margin rate declined in May
as we aggressively sold clearance goods left over from spring 2013 and our
sales and marketing expenses increased. We are therefore cautious as we
approach the critical Father's Day selling period as we attempt to balance
strong sales with the appropriate amount of clearance markdowns and
advertising expenses."

The adjusted earnings per diluted share and adjusted net income for the first
quarter of fiscal year 2014 exclude expenses of approximately $75.4 million,
or $1.65 per diluted share, of "Strategic Activity Costs," namely fees and
expenses related to the Company's strategic activities, including a) a $48.5
million termination fee and expense reimbursement paid to the owner of Eddie
Bauer, b) legal and professional fees and expenses incurred in connection with
various merger and acquisition activities and c) incremental incentive
compensation related to the merger transaction with Men's Wearhouse. After
deducting the $75.4 million of Strategic Activity Costs, GAAP net (loss) was
($37.1) million or ($1.33) per diluted share for the first quarter of fiscal
year 2014. GAAP net income in the first quarter of fiscal 2013 was $8.1
million or $.29 per diluted share as there were no adjustments to income in
this period.

The first quarter of fiscal 2014 ended on May 3, 2014. The first quarter of
fiscal 2013 ended on May 4, 2013. Fiscal May 2014 ended on May 31, 2014. The
estimated financial results for fiscal May 2014 presented above are
preliminary and are still subject to the internal completion of financial
closing and review procedures.

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 639 stores in 44 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."

Non-GAAP Measurements

This press release includes non-GAAP financial measures. Jos. A. Bank is
presenting adjusted earnings per diluted share and adjusted net income, which
are non-GAAP financial measures. Jos. A. Bank believes presentation of these
non-GAAP financial measures are useful to investors in connection with their
financial analysis as it is more indicative of the Company's operations.
Non-GAAP financial measures should be viewed in addition to, and not as an
alternative for, Jos. A. Bank's results prepared in accordance with GAAP. For
a description of how Jos. A. Bank reconciles these non-GAAP financial measures
to GAAP earnings, please see the third paragraph of this press release.

ADDITIONAL INFORMATION

On January 6, 2014, Java Corp. ("Purchaser"), a wholly owned subsidiary of The
Men's Wearhouse, Inc. ("Men's Wearhouse"), commenced a cash tender offer for
all outstanding shares of common stock of Jos. A. Bank not already owned by
Men's Wearhouse or any of its subsidiaries, subject to the terms and
conditions set forth in the Second Amended and Restated Offer to Purchase
dated as of March 20, 2014 (the "Offer to Purchase"). The purchase price to be
paid upon the successful closing of the cash tender offer is $65.00 net per
share in cash, without interest and less any required withholding tax, subject
to the terms and conditions in the Offer to Purchase and the related letter of
transmittal that accompanies the Offer to Purchase. The tender offer is
scheduled to expire at 5:00 p.m. New York City time, on June 19, 2014, unless
extended.

This communication does not constitute an offer to buy or solicitation of an
offer to sell any securities. This communication is for informational purposes
only.The tender offer is not being made to, nor will tenders be accepted
from, or on behalf of, holders of shares in any jurisdiction in which the
making of the tender offer or the acceptance thereof would not comply with the
laws of that jurisdiction.The tender offer is being made pursuant to a tender
offer statement on Schedule TO (including the Offer to Purchase, a related
letter of transmittal and other offer materials) filed by Men's Wearhouse and
the Purchaser with the U.S. Securities and Exchange Commission ("SEC") on
January 6, 2014, as amended from time to time. INVESTORS AND SECURITY HOLDERS
OF JOS. A. BANK ARE URGED TO READ THESE AND OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT
THE TENDER OFFER. Investors and security holders can obtain free copies of
these documents and other documents filed with the SEC by Jos. A. Bank through
the web site maintained by the SEC at http://www.sec.gov.The Offer to
Purchase, related letter of transmittal and other offering documents may also
be obtained for free by contacting the Information Agent for the tender offer,
MacKenzie Partners, Inc., at 212-929-5500 or toll-free at 800-322-2885.

This press release contains forward-looking information.Forward-looking
statements are not guarantees of future performance and a variety of factors
could cause actual results to differ materially from the anticipated or
expected results expressed in or suggested by these forward-looking
statements.These forward-looking statements may be significantly impacted by
various factors, including, but not limited to: actions by governmental
entities; domestic and international economic activity and inflation; success,
or lack thereof, in executing our internal operating plans and new store and
new market expansion plans, including successful integration of acquisitions;
performance issues with key suppliers; disruption in buying trends due to
homeland security concerns; severe weather; foreign currency fluctuations;
government export and import policies; aggressive advertising or marketing
activities of competitors; and legal proceedings. Future results will also be
dependent upon our ability to continue to identify and complete successful
expansions and penetrations into existing and new markets and our ability to
integrate such expansions with our existing operations.Additionally, interim
period sales are not necessarily indicative of sales expected for the full
quarter. Furthermore, sales are just one component of earnings and no
projection of earnings should be inferred from any discussion of interim
period sales or other information in this release.

These forward-looking statements are based upon management's current beliefs
or expectations and are inherently subject to significant business, economic
and competitive uncertainties and contingencies and third-party approvals,
many of which are beyond our control.The following factors, among others,
could cause actual results to differ materially from those expressed or
implied in the forward-looking statements:(1) the occurrence of any event,
change or other circumstances that could give rise to the termination of the
Agreement and Plan of Merger by and among Men's Wearhouse,the Purchaser and
Jos. A. Bank; (2) the failure to consummate the acquisition of Jos. A. Bank
for reasons including that the conditions to Men's Wearhouse's offer to
purchase all outstanding shares of Jos. A. Bank's common stock, including the
condition that a minimum number of shares be tendered and not withdrawn, are
not satisfied or waived by Men's Wearhouse; (3) the possibility that the
expected benefits from the proposed transaction will not be realized within
the anticipated time period; (4) the risks related to the costs and
difficulties related to the integration of Jos. A. Bank's business and
operations with Men's Wearhouse's business and operations; (5) the inability
to obtain, or delays in obtaining, cost savings and synergies from the
transaction; (6) unexpected costs, charges or expenses resulting from the
transaction; (7) litigation relating to the transaction; (8) the inability to
retain key personnel; and (9) the possible disruption that may be caused by
the transaction to the business and operations of Men's Wearhouse and its
relationships with customers, employees and other third parties.

The forward-looking statements in this press release speak only as of the date
hereof. Except for the ongoing obligations of Jos. A. Bank to disclose
material information under the federal securities laws, Jos. A. Bank
undertakes no obligation to revise or update publicly any forward-looking
statement, except as required by law.Other factors that may impact the
forward-looking statements are described in Jos. A. Bank's Annual Report on
Form 10-K for the fiscal year ended February 1, 2014, as amended, and
Quarterly Report on Form 10-Q for the first quarter of fiscal year 2014.For
additional information on Jos. A. Bank, please visit www.josabank.com.

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

MEDIA CONTACT:
Thomas Davies/Molly Morse
Kekst and Company
212-521-4873/212-521-4826
thomas-davies@kekst.com
molly-morse@kekst.com

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

                                                       
JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(Unaudited)
                                                       
                                Three Months Ended
                                May4, 2013             May3, 2014
                                (In thousands, except per share information)
Net sales                        $196,055              $217,422
Cost of goods sold               76,869                  85,552
Gross profit                     119,186                 131,870
Operating expenses:                                     
Sales and marketing, including   88,701                  96,921
occupancy costs
General and administrative       17,532                  20,264
Strategic activity costs         —                       75,390
Total operating expenses         106,233                 192,575
Operating income                 12,953                  (60,705)
Other income (expense):                                 
Interest income                  171                     61
Interest expense                 (5)                     (11)
Total other income (expense)     166                     50
Income before provision for      13,119                  (60,655)
income taxes
Provision (benefit) for income   5,031                   (23,518)
taxes
Net income                       $8,088                $ (37,137)
Per share information:                                  
Earnings per share:                                     
Basic                            $0.29                 $ (1.33)
Diluted                          $0.29                 $ (1.33)
Weighted average shares                                 
outstanding:
Basic                            27,965                  27,992
Diluted                          28,047                  27,992
                                                       
Note: The foregoing unaudited Consolidated Statements of Income are excerpts
from our unaudited Consolidated Financial Statements for thethree months
ended May 4, 2013 and May 3, 2014 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 May 3, 2014, which was filed with
the Securities and Exchange Commission on June 6, 2014.
                                                       
                                                       

JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Unaudited)
                                                           
                                    February1, 2014        May3, 2014
                                    (In thousands)
ASSETS                                                      
CURRENT ASSETS:                                             
Cash and cash equivalents            $305,531              $338,420
Short-term investments               139,969                 —
Accounts receivable, net             13,592                  18,278
Inventories:                                                
Finished goods                       295,889                 319,056
Raw materials                        8,433                   11,194
Total inventories                    304,322                 330,250
Prepaid expenses and other current   23,060                  28,891
assets
Deferred tax asset - current         —                       25,406
Total current assets                 786,474                 741,245
NONCURRENT ASSETS:                                          
Property, plant and equipment, net   148,966                 150,980
Other noncurrent assets              298                     278
Total assets                         $935,738              $892,503
LIABILITIES AND STOCKHOLDERS' EQUITY                        
CURRENT LIABILITIES:                                        
Accounts payable                     $32,946               $47,696
Accrued expenses                     115,023                 98,137
Deferred tax liability — current     1,819                   —
Total current liabilities            149,788                 145,833
NONCURRENT LIABILITIES:                                     
Deferred rent                        41,296                  40,469
Deferred tax liability — noncurrent  11,158                  9,463
Other noncurrent liabilities         1,412                   1,360
Total liabilities                    203,654                 197,125
COMMITMENTS AND CONTINGENCIES                               
STOCKHOLDERS' EQUITY:                                       
Preferred Stock                      —                       —
Common stock                         279                     279
Additional paid-in capital           95,825                  96,256
Retained earnings                    636,044                 598,906
Accumulated other comprehensive      (64)                    (63)
income (loss)
Total stockholders' equity           732,084                 695,378
Total liabilities and stockholders'  $935,738              $892,503
equity
                                                           
Note: The foregoing unaudited Consolidated Balance Sheets are excerpts from
our Consolidated Financial Statements (as of February 1, 2014 and as of May 3,
2014) 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 May 3,
2014 and the Annual Report on Form 10-K for the fiscal year ended February 1,
2014, which were filed with the Securities and Exchange Commission on June 6,
2014 and April 2, 2014, respectively.
                                                           
                                                           

JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(Unaudited)
                                                          
                                        Three Months Ended
                                        May4, 2013        May3, 2014
                                        (In thousands)
Cash flows from operating activities:                      
Net income                               $8,088           $ (37,137)
Adjustments to reconcile net income to                     
net cash (used in) operating activities:
Depreciation and amortization            7,493              7,401
Loss on disposals of property, plant and 28                 45
equipment
Non-cash equity compensation             510                690
Deferred taxes                           (542)              (28,920)
Net (increase)in operating working      (65,860)           (43,075)
capital and other components
Net cash (used in) operating activities  (50,283)           (100,996)
Cash flows from investing activities:                      
Capital expenditures                     (5,895)            (5,825)
Proceeds from maturities of short-term   140,915            139,969
investments
Payments to acquire short-term           (124,934)          —
investments
Net cash provided by investing           10,086             134,144
activities
Cash flows from financing activities:                      
Income tax benefit (detriment) from      (40)               90
equity compensation plans
Net proceeds from issuance of common     —                  —
stock
Tax payments related to equity           (173)              (349)
compensation plans
Net cash (used in) financing activities  (213)              (259)
Net (decrease) in cash and cash          (40,410)           32,889
equivalents
Cash and cash equivalents — beginning of 71,288             305,531
period
Cash and cash equivalents — end of       $30,878          $338,420
period
                                                          
Note: The foregoing unaudited Consolidated Statements of Cash Flows are
excerpts from our unaudited Consolidated Financial Statements for the three
months ended May 4, 2013 and May 3, 2014 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 May 3, 2014, which was filed with
the Securities and Exchange Commission on June 6, 2014.
                                                          
 
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