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Oxford Industries, Inc. reports developments tied to its portfolio of lifestyle apparel brands, including Tommy Bahama, Lilly Pulitzer, Johnny Was, Southern Tide, The Beaufort Bonnet Company, Duck Head and Jack Rogers. The company designs, sources, markets and distributes branded apparel and related products through reportable businesses that include Tommy Bahama, Lilly Pulitzer, Johnny Was and Emerging Brands.
Recurring news focuses on quarterly and full-year results, fiscal guidance, comparable sales trends, brand performance, tariff and supply-chain conditions, store openings, distribution capacity, dividends and share repurchases. Company updates also address investor conference presentations, retail traffic and conversion trends, impairment charges, borrowings and capital expenditures within Oxford's branded consumer portfolio.
Oxford Industries (NYSE:OXM) reported its Q1 fiscal 2024 results, revealing a 5% decline in net sales to $398 million compared to Q1 2023. GAAP EPS dropped to $2.42 from $3.64 in the previous year, while adjusted EPS decreased to $2.66 from $3.78. Segmented sales saw mixed results with Tommy Bahama down 5.8%, Lilly Pulitzer down 9.3%, and Johnny Was up 3.5%. The gross margin dipped slightly to 64.9%, and SG&A expenses increased to $213 million due to new store openings and pre-opening expenses. Operating income fell to $52 million from $80 million. Despite these challenges, Oxford Industries maintains a positive outlook, forecasting net sales between $1.59 billion and $1.63 billion and GAAP EPS between $7.99 and $8.39 for fiscal 2024.
Oxford Industries (NYSE: OXM) announced it will release its first quarter fiscal 2024 financial results after the market closes on June 12, 2024.
The company will hold a conference call at 4:30 p.m. ET hosted by key executives, including Chairman and CEO Thomas C. Chubb III and EVP, CFO, and COO K. Scott Grassmyer, to discuss the results.
A live webcast will be available on the company's website, with a replay accessible until June 26, 2024 via their website or by phone.
Oxford Industries, Inc. (NYSE: OXM) will participate in the 19th Annual Needham Technology, Media, & Consumer Conference in New York on May 14, 2024.
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