Analyst Russell Hoss says stock weakness is due to concerns over higher-than-expected inventory and debt levels. Also he cites, to a lesser extent, management's reiteration of the $1.86 to $1.91 fiscal 2004 (Jan.) earnings per share guidance, noting the Street's consensus was higher.
Hoss says some investors must have been assuming Jos. A Bank would raise its forecast. But he notes management has historically been conservative in its guidance. Hoss also says he had a 35 cents third-quarter earnings per share estimate.