Billion in sales seen for clothier

Billion in sales seen for clothier.
Local menswear retailer JoS. A. Bank Clothiers Inc. can achieve annual sales of $1 billion in the next five years through purely organic growth, the company said last week. 'The organic growth position of the company and the plan can be done primarily with our internal cash resources,' Robert Wildrick, the company"s chief executive officer, told analysts and reporters on a conference call last week. The clothing chain, based in Hampstead, Md., likewise said it can meet goals of $90 million in annual profits and a target of 600 stores — it has 394 currently — by the end of 2012, without significant borrowing or acquisitions. JoS. A. Bank said last week second-quarter earnings climbed 17 percent to $8.2 million (44 cents per diluted share) from $7 million (38 cents) a year ago.