| --- | --- | |-------|---------------------------| | | | | | | | | | | | | | | Investor | | | Highlights March 23, 2022 | | --- | --- | --- | |-----------------------------------------|-------|-------| | | | | | We own brands that make people happy | | | | | | | | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | Investment | | | | | | Highl ...

Financial Data and Key Metrics Changes - In fiscal 2021, consolidated net sales reached $1.142 billion, with a 9% increase over fiscal 2019 when excluding Lanier Apparel [26][28] - Adjusted gross margin was 63%, up from 57.6% in fiscal 2019, reflecting a 540 basis point improvement [28] - Operating margin increased by 650 basis points on an adjusted basis to 15% of net sales [28][29] - Adjusted earnings per share (EPS) for fiscal 2021 were $7.99, with projections for fiscal 2022 EPS ranging from $8.75 to $9.15 [35] Business Line Data and Key Metrics Changes - Tommy Bahama, the largest brand, achieved record sales of $724 million, growing 7% compared to 2019 [9] - All five brands, including Lilly Pulitzer and Southern Tide, reported strong growth, with net sales increasing by 9% for the full fiscal year compared to 2019 [8][9] - The full-price e-commerce business grew significantly, up 58% versus fiscal 2019 [27] Market Data and Key Metrics Changes - Retail stores and restaurants showed particular strength in Florida, the Southeast, and Texas compared to fiscal 2019 [27] - The company reported a customer count of over 2 million active brand customers, up from approximately 1.8 million at the end of fiscal 2019 [17][86] Company Strategy and Development Direction - The company plans to focus on four strategic pillars for growth: long-term brand growth, enhancing digital and omnichannel capabilities, driving operational excellence, and managing the portfolio for sustained profitable growth [18][19][20][22] - Emphasis on direct-to-consumer channels, which represent 80% of the business, is expected to enhance execution amid supply chain disruptions [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for fiscal 2022, projecting double-digit top and bottom line growth [18][33] - The company is navigating supply chain challenges effectively, with a focus on agility and early purchasing to mitigate delays [56][57][59] - Management does not anticipate significant impacts from last year's stimulus actions on current business performance [66][68] Other Important Information - The Board of Directors increased the quarterly dividend from $0.42 to $0.55 per share, a 31% increase [39] - Capital expenditures are expected to rise to approximately $50 million in fiscal 2022, with a focus on technology initiatives and new store openings [38][77] Q&A Session Summary Question: Pricing expectations for this year versus last year - Management indicated that price increases are being implemented strategically, with both pricing and unit growth contributing to projected double-digit growth [41][44] Question: Growth expectations by brand and performance of Tommy Bahama - All brands are expected to have a strong year, with women's business in Tommy Bahama showing particularly robust growth [46][49] Question: Current supply chain situation and future expectations - Management acknowledged supply chain challenges but expressed confidence in their ability to manage them effectively [56][60] Question: Impact of stimulus actions on margins - Management does not believe stimulus actions significantly fueled business last year and does not expect much impact this year [66][68] Question: Regional performance and sales growth opportunities - Strong performance continues in traditional markets like Florida and Texas, with signs of improvement in the Northeast and Midwest [76] Question: Customer count growth since 2019 - Active customer count increased from 1.8 million to 2 million across all brands from 2019 to 2021 [86][87]

OXFORD Investor Highlights December 8, 2021 NYSE: OXM | --- | --- | --- | |-----------------------------------------|-------|-------| | | | | | We own brands that make people happy | | | | | | | | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | Investment | | | | | | Highlights | | | | | | | | | | | | | | | | | | Portfolio of high-margin lifestyle brands Significant opportunity for profita ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 30, 2021 or (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-4365 OX ...

Financial Data and Key Metrics Changes - The company reported record sales and earnings for Q3 2021, with sales increasing by 41% compared to the same quarter last year and a 15% increase over Q3 2019, excluding Lanier Apparel [9][12][22] - Adjusted earnings per share reached $1.19, compared to an adjusted loss of $0.44 per share last year and $0.10 during Q3 2019 [12][32] - Adjusted gross margin increased by 710 basis points to 62% compared to fiscal 2019 [12][23] Business Line Data and Key Metrics Changes - The direct-to-consumer business grew by 40%, with a 13% increase in full-price retail and a 100% gain in full-price e-commerce compared to fiscal 2019 [10][12] - Restaurant sales grew by 14% compared to Q3 2019, supported by strong performance at existing locations and the addition of new Marlin Bar locations [11][12] Market Data and Key Metrics Changes - Consolidated sales increased by 15% to $243 million, with improvements across all regions, particularly in Florida, the Southeast, and Texas [22] - FIFO inventory decreased by 17% compared to fiscal 2020, indicating effective inventory management [26] Company Strategy and Development Direction - The company aims to deliver long-term shareholder value by owning a portfolio of powerful lifestyle brands focused on consumer happiness [7][13] - The exit of Lanier Apparel marks a strategic shift towards a focused brand portfolio consisting of five lifestyle brands [13] - The company is enhancing its digital marketing capabilities to better understand and engage customers [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting sales objectives despite supply chain challenges, emphasizing agility in inventory management [40] - The company expects continued strength in full-price direct-to-consumer sales and gross margin expansion over 2019 [28][32] - For Q4, sales are projected to be between $285 million and $295 million, with adjusted earnings expected to be between $1.20 and $1.35 per share [30][31] Other Important Information - The company declared a dividend of $0.42 per share and approved a new share repurchase authorization of $150 million [35][66] - Capital expenditures are expected to be between $35 million and $40 million, focusing on IT initiatives and new store openings [33] Q&A Session Summary Question: Inventory management and store rollout potential - Management highlighted effective inventory management and plans for more Southern Tide stores, with a focus on Marlin Bars for Tommy Bahama [38][42] Question: Holiday sales trends and wholesale partner orders - Management noted robust holiday sales trends and strong performance from wholesale partners, with no anticipated cancellations [50][52] Question: Pricing strategy and capital allocation - Management indicated a 1-point increase in IMUs and proactive pricing strategies to offset inflationary pressures, alongside a strong capital allocation strategy focused on investments and shareholder returns [63][64]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-4365 OXFORD INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Georgia 58-0831862 (State or other juri ...

Financial Performance - The company projects FY21 revenue between $1085 billion and $1105 billion[5] - GAAP EPS is projected between $603 and $628 for FY21[5] - Adjusted EPS is projected between $645 and $670 for FY21[5] - In H1 21, the company reported revenue of $594 million compared to $352 million in H1 20 and $584 million in H1 19[5] - H1 21 GAAP EPS was $475 compared to ($440) in H1 20 and $305 in H1 19[5] - H1 21 Adjusted EPS was $513 compared to ($150) in H1 20 and $313 in H1 19[5] Revenue Breakdown (Projected FY21) - Tommy Bahama is projected to account for 64% of FY21 revenue[5] - Lilly Pulitzer is projected to account for 26% of FY21 revenue[5] - Southern Tide is projected to account for 5% of FY21 revenue[5] - Lanier Apparel is projected to account for 2% and Other for 3% of FY21 revenue[5] Revenue by Distribution Channel (Projected FY21) - Retail is projected to account for 38% of FY21 revenue[5] - E-Commerce is projected to account for 32% of FY21 revenue[5] - Wholesale is projected to account for 21% of FY21 revenue[5] - Restaurant is projected to account for 9% of FY21 revenue[5]

Oxford Industries, Inc. (NYSE:OXM) Q2 2021 Earnings Conference Call September 2, 2021 4:30 PM ET Company Participants Anne Shoemaker - Investor Relations Tom Chubb - Chairman and Chief Executive Officer Scott Grassmyer - Chief Financial Officer Conference Call Participants Tracy Kogan - Citigroup Susan Anderson - B. Riley Ed Yruma - KeyBanc Steve Marotta - CL King & Associates Dana Telsey - Telsey Advisory Group Operator Greetings. Welcome to the Oxford Industries, Inc. Second Quarter Fiscal 2021 Earnings C ...

[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The company reported a significant turnaround in Q1 2021, with net earnings of **$28.5 million** compared to a net loss of **$66.8 million** in Q1 2020, driven by a **66% increase** in net sales as operations recovered from the COVID-19 pandemic Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | May 1, 2021 | May 2, 2020 | | :--- | :--- | :--- | | **Total Current Assets** | $308,739 | $423,692 | | Property and equipment, net | $157,553 | $188,568 | | **Total Assets** | **$900,982** | **$1,097,470** | | **Total Current Liabilities** | $225,090 | $153,127 | | Long-term debt | $0 | $207,618 | | **Total Liabilities** | **$473,081** | **$658,775** | | **Total Shareholders' Equity** | $427,901 | $438,695 | Condensed Consolidated Statement of Operations Highlights (in thousands, except per share data) | Account | Q1 Fiscal 2021 | Q1 Fiscal 2020 | | :--- | :--- | :--- | | Net sales | $265,762 | $160,343 | | Gross profit | $166,585 | $94,074 | | Operating income (loss) | $34,893 | $(85,489) | | Net earnings (loss) | $28,468 | $(66,784) | | Diluted earnings (loss) per share | $1.70 | $(4.02) | Condensed Consolidated Statement of Cash Flows Highlights (in thousands) | Activity | Q1 Fiscal 2021 | Q1 Fiscal 2020 | | :--- | :--- | :--- | | Cash provided by (used in) operating activities | $41,005 | $(45,849) | | Cash used in investing activities | $(5,425) | $(8,591) | | Cash (used in) provided by financing activities | $(9,662) | $183,908 | | **Net change in cash and cash equivalents** | **$25,918** | **$129,468** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The financial statements are prepared under GAAP for interim reporting, detailing the significant impact of the COVID-19 pandemic, the ongoing exit from the Lanier Apparel business, and a favorable effective tax rate in Q1 2021 - The COVID-19 pandemic led to temporary closures of all retail and restaurant locations for about half of Q1 2020, though e-commerce saw strong growth, and while most locations have reopened, they continue to face reduced traffic and capacity limitations[22](index=22&type=chunk)[23](index=23&type=chunk) - The company is exiting its Lanier Apparel business, with the process expected to be completed in the second half of Fiscal 2021, and an additional **$1 million** in charges, primarily for severance and employee retention, were recognized in Q1 2021[47](index=47&type=chunk) - The effective income tax rate for Q1 2021 was **17.8%**, compared to a **22.5%** benefit in Q1 2020, favorably impacted by a **$2 million** reduction in uncertain tax positions and other items[39](index=39&type=chunk) Operating Income (Loss) by Segment (in thousands) | Operating Group | Q1 Fiscal 2021 | Q1 Fiscal 2020 | | :--- | :--- | :--- | | Tommy Bahama | $20,660 | $(23,362) | | Lilly Pulitzer | $19,945 | $4,146 | | Southern Tide | $3,253 | $(63,366) | | Lanier Apparel | $855 | $(2,637) | | Corporate and Other | $(9,820) | $(270) | | **Consolidated** | **$34,893** | **$(85,489)** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the strong Q1 2021 performance, with net sales up **65.7%** to **$265.8 million** and diluted EPS of **$1.70**, to the recovery from the COVID-19 pandemic, resulting in improved gross margin and a strong liquidity position with **$92 million** in cash and no debt Key Operating Results (in thousands, except per share data) | Metric | Q1 Fiscal 2021 | Q1 Fiscal 2020 | | :--- | :--- | :--- | | Net sales | $265,762 | $160,343 | | Operating income (loss) | $34,893 | $(85,489) | | Net earnings (loss) | $28,468 | $(66,784) | | Net earnings (loss) per diluted share | $1.70 | $(4.02) | - The improved Q1 2021 results were primarily due to the absence of the **$60 million** impairment charge seen in Q1 2020, higher sales and gross margin in all operating groups, and a favorable effective tax rate[69](index=69&type=chunk) - As of May 1, 2021, the company had **$92 million** in cash and cash equivalents with no borrowings outstanding and **$322 million** of unused availability under its U.S. Revolving Credit Agreement[119](index=119&type=chunk) [Results of Operations](index=24&type=section&id=RESULTS%20OF%20OPERATIONS) Q1 2021 net sales surged **65.7%** to **$265.8 million**, driven by recovery from pandemic-related closures, leading to a **400 basis point** expansion in gross margin to **62.7%** and a swing to a **$34.9 million** operating profit from an **$85.5 million** loss Consolidated Results of Operations (in thousands) | Line Item | Fiscal 2021 | % of Sales | Fiscal 2020 | % of Sales | $ Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Net sales | $265,762 | 100.0% | $160,343 | 100.0% | $105,419 | | Gross profit | $166,585 | 62.7% | $94,074 | 58.7% | $72,511 | | SG&A | $137,125 | 51.6% | $123,001 | 76.7% | $14,124 | | Operating income (loss) | $34,893 | 13.1% | $(85,489) | (53.3)% | $120,382 | Net Sales by Operating Group (in thousands) | Operating Group | Q1 Fiscal 2021 | Q1 Fiscal 2020 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Tommy Bahama | $156,698 | $86,984 | $69,714 | 80.1% | | Lilly Pulitzer | $73,576 | $49,149 | $24,427 | 49.7% | | Southern Tide | $15,466 | $8,301 | $7,165 | 86.3% | | Lanier Apparel | $12,019 | $10,725 | $1,294 | 12.1% | | **Consolidated** | **$265,762** | **$160,343** | **$105,419** | **65.7%** | [Financial Condition, Liquidity and Capital Resources](index=39&type=section&id=FINANCIAL%20CONDITION,%20LIQUIDITY%20AND%20CAPITAL%20RESOURCES) The company's financial condition strengthened significantly, ending Q1 2021 with **$92 million** in cash and no debt, compared to **$182 million** in cash and **$208 million** in debt a year prior, supported by **$41.0 million** in operating cash flow and **$322 million** in available credit Key Liquidity Measures (in thousands) | Metric | May 1, 2021 | May 2, 2020 | | :--- | :--- | :--- | | Working capital | $83,649 | $270,565 | | Working capital ratio | 1.37 | 2.77 | | Debt to total capital ratio | 0% | 32% | - The decrease in debt since May 2, 2020 was due to the repayment of all outstanding borrowings using cash on hand and cash flow from operations, as the company had previously borrowed funds as a precautionary measure during the COVID-19 pandemic[123](index=123&type=chunk) - Cash from operating activities was **$41.0 million** in Q1 2021, a significant improvement from a **$45.8 million** use of cash in Q1 2020, primarily driven by the swing from a net loss to net earnings[134](index=134&type=chunk) - Anticipated capital expenditures for Fiscal 2021 are expected to be approximately **$35 million**[148](index=148&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes in its exposure to market risks, including interest rate, foreign currency, commodity, and inflation risks, during the first quarter of Fiscal 2021 - There have not been any material changes in the company's exposure to interest rate, foreign currency, commodity, and inflation risks during the First Quarter of Fiscal 2021[156](index=156&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on an evaluation conducted by management, including the principal executive officer and principal financial officer, the company concluded that its disclosure controls and procedures were effective as of the end of the first quarter of Fiscal 2021, with no material changes in internal control over financial reporting during the quarter - Management, including the CEO and CFO, evaluated disclosure controls and procedures and concluded they were effective as of the end of the reporting period (May 1, 2021)[157](index=157&type=chunk) - There were no changes in internal control over financial reporting during the first quarter of Fiscal 2021 that materially affected, or are reasonably likely to materially affect, internal controls[159](index=159&type=chunk) [PART II. OTHER INFORMATION](index=34&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal and regulatory actions in the ordinary course of business but is not currently a party to any proceedings expected to have a material impact on its financial position, results of operations, or cash flows - The company is not currently a party to any litigation or regulatory action that it believes could reasonably be expected to have a material impact on its financial position, results of operations or cash flows[160](index=160&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) The company states that its business is subject to numerous risks and directs investors to the detailed discussion of these risks in its Fiscal 2020 Form 10-K, with no new or materially changed risk factors presented in this quarterly report - Investors are advised to consider the risk factors discussed in the Fiscal 2020 Form 10-K, as they could materially affect the business, financial condition, or operating results[161](index=161&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=34&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not make any unregistered sales of equity securities during Q1 2021, but repurchased **33,787 shares** at an average price of **$88.30** per share from employees to cover tax liabilities related to stock award vesting, with **$32 million** remaining available under the public stock repurchase program - During Q1 Fiscal 2021, the company did not make any unregistered sales of equity securities[163](index=163&type=chunk) Share Repurchases in Q1 Fiscal 2021 | Fiscal Month | Total Number of Shares Purchased | Average Price Paid per Share (in USD) | | :--- | :--- | :--- | | February | - | $ - | | March | 33,787 | $88.30 | | April | - | $ - | | **Total** | **33,787** | **$88.30** | - As of May 1, 2021, **$32 million** remained available for future repurchases under the company's stock repurchase authorization[163](index=163&type=chunk) [Defaults Upon Senior Securities](index=35&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) None reported - None[164](index=164&type=chunk) [Mine Safety Disclosures](index=35&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) None reported - None[164](index=164&type=chunk) [Other Information](index=35&type=section&id=Item%205.%20Other%20Information) None reported - None[164](index=164&type=chunk) [Exhibits](index=35&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications by the CEO and CFO under Sections 302 and 906 of the Sarbanes-Oxley Act, and XBRL data files - Exhibits filed with this report include Section 302 and 906 certifications by the Principal Executive Officer and Principal Financial Officer[164](index=164&type=chunk)

Financial Data and Key Metrics Changes - First quarter sales were $266 million, down from $282 million in fiscal 2019, but above the guidance range of $220 million to $240 million [12] - Adjusted earnings per share increased to $1.89 compared to $1.30 in the first quarter of fiscal 2019 [13] - Gross margin expanded 520 basis points over 2019 to 64% [34] - Consolidated adjusted operating margin expanded 410 basis points over 2019 to 15% [36] Business Line Data and Key Metrics Changes - E-commerce sales increased by 55% compared to 2019, significantly contributing to overall sales growth [31] - Tommy Bahama's women's business outperformed the men's business, indicating strong brand loyalty and customer engagement [19] - Lilly Pulitzer's sales exceeded first quarter 2019 levels, with an operating margin of 27% compared to 21% in 2019 [21] Market Data and Key Metrics Changes - Retail sales were 16% lower than in 2019, with significant regional differences in recovery, particularly strong in the Southeast and Southwest [32] - Restaurants experienced a 7% sales increase compared to 2019, benefiting from the addition of new Marlin Bars [33] - Inventory decreased 29% on a FIFO basis compared to the end of the first quarter of 2020, indicating effective inventory management [37] Company Strategy and Development Direction - The company is focused on enhancing digital marketing and omni-channel customer service to drive growth [16] - Plans to open new retail stores and a new Marlin Bar in Las Vegas, indicating a commitment to physical expansion [49] - Continued investment in information technology initiatives and digital marketing to support growth opportunities [48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of regions that were slower to rebound, anticipating continued consumer interest in travel and social events [26] - The company expects strong revenue and earnings in the second quarter, projecting sales between $300 million to $310 million [40] - Management highlighted the importance of brand loyalty and customer engagement as key drivers for future growth [31] Other Important Information - The company is exiting the Lanier Apparel business, which is expected to impact sales negatively in the second quarter [41] - Cash provided by operating activities was $41 million in the first quarter of 2021, compared to cash used in operating activities of $46 million in the first quarter of 2020 [39] - The company has no debt and a strong liquidity position with $92 million in cash at the end of the first quarter [39] Q&A Session Summary Question: Inquiry about gross margin performance and inventory management - Management confirmed that there was no significant cost difference from carried-over inventory, which helped maintain brand health and avoid excess inventory [52][53] Question: Supply chain impact on inventory and clearance sales - Management indicated that higher sell-through rates were the primary cause of reduced inventory, with supply chain issues complicating inventory replenishment [59] Question: Performance of outlet stores versus full-price stores - Outlet sales were down, but gross margins remained healthy, indicating effective inventory management despite lower sales [60] Question: Recovery in Northern states and performance in Hawaii - Management noted improvements in the Mid-Atlantic, Northeast, and Midwest regions, with Hawaii showing mixed recovery based on tourist demographics [63][65] Question: E-commerce growth and margin impact - E-commerce is expected to continue growing as a percentage of total sales, with profitability remaining strong [70][72] Question: Operating margin expectations and efficiency improvements - Management anticipates entering low double-digit operating margins, with ongoing improvements in operational efficiency contributing to margin expansion [81][83]