Jos. A. Bank 1Q profit jumps 18 percent

Retailer Jos. A. Bank Clothiers Inc. said Wednesday its first-quarter profit jumped 18 percent, helped by a big boost in sales at established stores.

For the quarter ended May 3, net income climbed to $9.8 million, or 53 cents per share, from $8.4 million, or 45 cents per share in the prior-year quarter.

Analysts polled by Thomson Financial expected profit of 46 cents per share.

Revenue rose 12 percent to $145.4 million from $129.5 million in the first quarter of 2007. Analysts predicted revenue of $142.3 million.

Same-store sales, or sales at stores open at least a year, rose 6.4 percent.

Same-store sales is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.

Shares rose $2.79, or 10.3 percent, to $30 in afternoon trading.