August 31 - Men's apparel and accessories retailer JoS A Bank Clothiers Inc's quarterly results topped market estimates as timely discounting helped drive sales of its high-end clothes, sending its shares up as much as 12 percent.

Josbank.com

Retailers are struggling with high costs of raw materials like cotton and most have signalled caution over the near future as Americans deal with an uncertain economy, but chains catering to well-heeled clients have not been hurt as much.

Earlier in the month, luxury department store operator Saks Inc too saw second-quarter sales jump 13 percent and customers were buying more designer suits at full price.

Many retailers, like JoS A Bank, have also offered discounts to lure bargain-hungry shoppers.

The company, which is discounting on some shirts and suits for the fall season, said same-store sales in August rose slightly despite the impact of hurricane Irene that hit the U.S. East Coast.

Sales at stores open for at least a year, or same-store sales -- a key metric of retail strength -- rose 14.7 percent in JoS A Bank's latest reported quarter.

JoS A Bank, established in 1905, has seen profits grow for 21 straight quarters and sells its products, that range from men's tailored suits to shoes and belts, in about 529 stores in 42 states and the District of Columbia.

For the second quarter, Hampstead, Maryland-based JoS A Bank reported a profit of $20.6 million, or 74 cents a share, compared with $16.5 million, or 59 cents a share, a year ago.

Sales rose 22.4 percent to $230.7 million, while margins stayed more-or-less flat at 62.4 percent.

Analysts, on average, had expected earnings of 68 cents a share, on sales of $209.7 million, according to Thomson Reuters I/B/E/S.

The company's shares touched a high of $52.86 in Wednesday morning trading on Nasdaq.

(Reporting by Ranjita Ganesan; Editing by Gopakumar Warrier)