Jos. A. Banks to open 10 outlet stores in 2011

Jos. A. Bank opened five factory outlet stores last year, selling apparel made expressly for outlets as opposed to clearance items. The company said it expected to open 10 to 12 outlet stores this year, but did not specify locations, and said it would convert some of its clearance stores to outlets.

"The outlets should be very profitable for them," though the company has yet to build up the necessary critical mass of stores, Whitfield said. "Outlet traffic is something you can count on, and the store payroll is lower. The idea is to go after prime real estate in prime outlet centers."

For the full report "Jos. A. Bank earnings rose in fourth quarter" in the Baltimore Sun follow the link.