Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Jos. A Bank Clothiers (NASDAQ: JOSB) fell as much as 10% today after reporting third-quarter earnings.
So what: The company reported an 11% jump in revenue to $232.9 million, which was in line with estimates, but the bottom line disappointed. Earnings per share fell 13% to $0.47 and fell well short of the $0.56 analysts expected.
Now what: Management blamed markdowns and promotions that drove the sales growth but hurt the bottom line in the quarter. They are cautious looking forward because of disruptions from Hurricane Sandy and because of the economy. I don't see any buy signs today and would wait for margins to improve before jumping into this stock.
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