Photo: smithereen11 | Flickr
Friday night is a classic time for companies and government to take out the trash — release some bad news so that people forget about it over the weekend.Still, 8:05 on a Friday night is a very unusual time to drop a big earnings warning, which is exactly what suits retailers Jos. A Bank did last week.
Sam Ro wrote up the warning, which basically had two main points.
2012 net income was going to be about 20% lower than it was in 2011.
Customers stopped responding as much to the company’s promotions, and it blamed stuff like the election, the fiscal cliff, and the weather.
We’re eager to see how the market reacts to this huge news, as well as the unusual timing of the release.