Core Viewpoint - Oxford Industries experienced a significant decline in stock price, falling over 21% following a disappointing quarterly earnings report and reduced future guidance [1][6]. Financial Performance - The company reported net sales of just over $307 million for the third quarter, which represents a slight year-over-year decline [2]. - Oxford's net loss deepened to nearly $14 million ($0.92 per share) from a loss of $1.7 million in the same quarter of the previous year, slightly better than the consensus estimate of $0.96 per share [4]. - Sales at the Tommy Bahama brand, the company's top revenue generator, fell by more than 4% to $154 million, while the Johnny Was brand also saw a decline; however, Lilly Pulitzer and emerging brands reported year-over-year gains [5]. Future Guidance - Management has lowered its guidance for 2025, projecting net sales between $1.47 billion and $1.49 billion, down from a previous forecast of approximately $1.52 billion [7]. - The adjusted per-share profitability guidance has also been reduced to a range of $2.20 to $2.40, compared to the earlier estimate of $2.80 to $3.20 [7].

Financial Performance - Consolidated net sales for the first nine months of Fiscal 2025 were $1,103,348, a decrease of 2.0% from $1,126,095 in Fiscal 2024[83]. - Operating loss for the first nine months of Fiscal 2025 was $23,481 compared to an operating income of $98,721 in Fiscal 2024[83]. - Net loss for the first nine months of Fiscal 2025 was $20,810, down from net earnings of $75,078 in Fiscal 2024, resulting in a net loss per diluted share of $1.39 compared to earnings of $4.74[83]. - Comparable sales for the third quarter of Fiscal 2025 decreased slightly by 0.2% to $307,344 from $308,025 in the third quarter of Fiscal 2024[95]. - Consolidated net sales for Q3 Fiscal 2025 were $307 million, a decrease of $681,000 or 0.2% compared to $308 million in Q3 Fiscal 2024[96]. - Consolidated net sales for the first nine months of Fiscal 2025 were $1,103 million, a decrease of $22.7 million or 2.0% compared to $1,126 million in Fiscal 2024[134]. - Tommy Bahama net sales decreased by $33 million or 5%, while Lilly Pulitzer net sales increased by $14 million or 6% in the same period[135]. - The overall net sales for the company in Q3 Fiscal 2025 were $307.3 million, slightly down from $308.0 million in Q3 Fiscal 2024[130]. Cost and Expenses - Cost of goods sold increased by 7.5% to $122,073 in the third quarter of Fiscal 2025, impacting gross profit which fell by 4.8% to $185,271[95]. - SG&A expenses rose by 3.8% to $212,554 in the third quarter of Fiscal 2025, contributing to an operating loss of $85,098 compared to a loss of $6,240 in the same period last year[95]. - Gross profit for the first nine months of Fiscal 2025 was $685 million, down $32.7 million or 4.6% from $718 million in Fiscal 2024, with a gross margin of 62.1% compared to 63.8%[143]. - SG&A expenses increased to $661 million, up $26.2 million or 4.1% from $635 million in Fiscal 2024, representing 59.9% of net sales[149]. - Interest expense increased significantly to $4.9 million, up $3.3 million or 212.4% compared to $1.6 million in Fiscal 2024[134]. Impairment and Losses - The company recognized noncash impairment charges of $61 million primarily related to Johnny Was in the third quarter of Fiscal 2025[83]. - Noncash impairment charges totaled $61 million in Q3 Fiscal 2025, including $57 million related to Johnny Was intangible assets[115]. - Johnny Was experienced a substantial operating loss of $61.7 million in Q3 Fiscal 2025, compared to a loss of $4.1 million in Q3 Fiscal 2024, marking a 1412.7% decline[122]. - Net earnings loss was $20.8 million, down $95.9 million or 127.7% from net earnings of $75.1 million in Fiscal 2024[134]. Sales Channels and Growth - Direct to consumer channels accounted for 81% of consolidated net sales in Fiscal 2024, with the remaining 19% from wholesale distribution[76]. - The total number of direct to consumer locations increased to 358 as of November 1, 2025, up from 345 in the previous quarter[90]. - Emerging Brands net sales increased by $5 million, or 17%, driven by a 29% increase in e-commerce sales[104]. - E-commerce sales increased by $5 million, or 5%, with Lilly Pulitzer and Emerging Brands showing significant growth[101]. - Lilly Pulitzer saw a 7% increase in e-commerce sales, contributing to its overall sales growth[139]. - Emerging Brands saw a 12.5% increase in net sales to $108.9 million, but operating income fell to $2, a decrease of 100%[160]. Tax and Interest - The income tax benefit for Q3 Fiscal 2025 was $(23.1) million, a significant increase from $(2.9) million in Q3 Fiscal 2024, reflecting a 691.5% change[127]. - The effective tax rate for Q3 Fiscal 2025 was 26.6%, a decrease from 42.5% in Q3 Fiscal 2024, influenced by various factors including geographic mix of earnings[128]. - The effective tax rate for the first nine months of Fiscal 2025 was 26.7%, up from 22.7% in Fiscal 2024, influenced by various tax factors[164]. Capital and Investments - The company plans to continue investing in direct-to-consumer initiatives and information technology projects, supported by anticipated future cash flows[191]. - Capital expenditures for the First Nine Months of Fiscal 2025 were $93 million, slightly up from $92 million in the same period of Fiscal 2024[206]. - The company is building a new distribution center in Lyons, Georgia, as part of its capital expenditures[207]. - A cash dividend of $0.69 per share was approved, payable on January 30, 2026, to shareholders of record as of January 16, 2026[201]. Debt and Liquidity - Long-term debt increased to $140,436 as of November 1, 2025, compared to $29,304 as of November 2, 2024, indicating a significant rise in leverage[182]. - As of November 1, 2025, outstanding borrowings under the U.S. Revolving Credit Agreement totaled $140 million, with unused availability of $179 million[194]. - The company has maintained compliance with all applicable covenants related to the U.S. Revolving Credit Agreement as of November 1, 2025[199]. - The company is exposed to increased interest rate risks due to higher borrowings compared to February 1, 2025[215].

Core Insights - The apparel company is facing challenges due to tariffs and a decline in discretionary spending [1] Group 1 - The company has been impacted by the effects of tariffs [1] - There is a noted softness in discretionary spending affecting the company's performance [1]

Core Insights - U.S. stock futures are lower, with Nasdaq 100 futures down approximately 150 points [1] Group 1: Oxford Industries, Inc. - Oxford Industries reported a quarterly loss of 92 cents per share, which was better than the analyst consensus estimate of a loss of 95 cents per share [2] - The company reported quarterly sales of $307.344 million, exceeding the analyst consensus estimate of $304.642 million [2] - Shares of Oxford Industries fell 25.6% to $30.17 in pre-market trading following the earnings report and lowered guidance [2] Group 2: Other Stocks - CapsoVision Inc shares dropped 16.6% to $9.86 in pre-market trading after a previous gain of 33% [3] - Ur-Energy Inc fell 12.1% to $1.20 after announcing a $100 million offering of 4.75% convertible senior notes due 2031 [3] - Oracle Corporation shares dipped 11.3% to $197.70 after posting mixed second-quarter financial results for fiscal 2026 [3] - T1 Energy Inc. fell 10.8% to $5.50 after announcing proposed offerings of $120 million in convertible senior notes and $140 million in common stock [3] - Rezolute Inc dropped 5.8% to $10.30 after announcing Phase 3 study results [3] - NovaBay Pharmaceuticals Inc declined 5.8% to $2.28 after a previous jump of 34% [3] - Constellium SE fell 3% to $17.62 after gaining 4% [3]

Group 1 - U.S. stock futures are lower, with Nasdaq 100 futures down approximately 150 points [1] - Oxford Industries, Inc. reported a quarterly loss of 92 cents per share, which was better than the analyst consensus estimate of 95 cents per share [2] - The company reported quarterly sales of $307.344 million, exceeding the analyst consensus estimate of $304.642 million [2] - Oxford Industries shares fell 25.6% to $30.17 in pre-market trading following the earnings report and lowered guidance [2] Group 2 - CapsoVision Inc shares dropped 16.6% to $9.86 in pre-market trading after a previous gain of 33% [3] - Ur-Energy Inc shares fell 12.1% to $1.20 after announcing a $100 million offering of 4.75% convertible senior notes due 2031 [3] - Oracle Corporation shares dipped 11.3% to $197.70 after posting mixed second-quarter financial results for fiscal 2026 [3] - T1 Energy Inc shares fell 10.8% to $5.50 following the announcement of proposed offerings of $120 million in convertible senior notes and $140 million in common stock [3] - Rezolute Inc shares dropped 5.8% to $10.30 after announcing Phase 3 sunRIZE study results in Congenital Hyperinsulinism [3] - NovaBay Pharmaceuticals Inc shares declined 5.8% to $2.28 after a previous jump of 34% [3] - Constellium SE shares fell 3% to $17.62 after gaining 4% previously [3]

Core Insights - The company anticipates that the recent event will continue to drive creative content and commercial success into 2026, alongside significant investments in flagship locations and fulfillment centers that will support future growth [1][2][3] Financial Performance - In Q3, consolidated net sales were $307 million, slightly down from $308 million in the previous year, aligning with guidance expectations [23] - Direct-to-consumer sales increased by 2%, driven by a 5% rise in e-commerce and a 31% increase in food and beverage sales [24] - Adjusted gross margin contracted by 200 basis points to 61%, primarily due to increased costs from tariffs and a shift in sales mix towards promotional events [27] - The company reported an adjusted operating loss of $18 million, reflecting a negative operating margin of 5.8% compared to a 3% loss in the prior year [28] Brand Performance - Lilly Pulitzer showed strong growth with double-digit increases in retail and high single-digit growth in e-commerce, despite a decline in the wholesale channel [25][26] - The Emerging Brands Group also reported strong year-over-year sales gains, contributing positively to overall performance [17] - Tommy Bahama and Johnny Was experienced declines, with Tommy Bahama's comps improving sequentially but still down in low single digits [5][6] Strategic Initiatives - The company has made significant leadership changes at Johnny Was to enhance brand performance, including the promotion of Lisa Kayser to President [8][9] - A comprehensive assessment of Johnny Was has led to actionable plans focusing on merchandising effectiveness, marketing efficiency, and improved go-to-market processes [9][57][59] - The company is investing in long-term growth through capital expenditures, including a new fulfillment center expected to reduce debt levels [21][32] Market Environment - The competitive landscape remains challenging, with heightened promotional activity impacting sales, particularly during the holiday season [4][13] - Tariff-related sourcing decisions have affected product assortments, particularly in categories like sweaters, which are heavily reliant on China [12][50] - The company expects to navigate these challenges by adjusting pricing strategies and enhancing product offerings to meet consumer demand [36][39]

Core Insights - Oxford Industries reported a quarterly loss of $0.92 per share, slightly better than the Zacks Consensus Estimate of a loss of $0.95, compared to a loss of $0.11 per share a year ago [1] - The company achieved an earnings surprise of +3.16% and has surpassed consensus EPS estimates three times over the last four quarters [2] - Revenues for the quarter were $307.34 million, exceeding the Zacks Consensus Estimate by 1.07%, but down from $308.02 million year-over-year [3] Financial Performance - The company has shown a mixed trend in estimate revisions ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) [7] - Current consensus EPS estimate for the upcoming quarter is $0.79 on revenues of $397.85 million, and for the current fiscal year, it is $2.95 on revenues of $1.5 billion [8] Industry Context - The Textile - Apparel industry, to which Oxford Industries belongs, is currently in the top 25% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [9] - The performance of Oxford Industries' stock may be influenced by the overall industry outlook and trends in earnings estimate revisions [6][9]

Financial Data and Key Metrics Changes - In Q3 fiscal 2025, consolidated net sales were $307 million, slightly down from $308 million in Q3 fiscal 2024, within the guidance range of $295 million to $310 million [22] - Adjusted gross margin contracted by 200 basis points to 61%, primarily due to increased cost of goods sold from tariffs and a change in sales mix [24] - Adjusted SG&A expenses increased by 4% to $209 million compared to $201 million last year, leading to an adjusted operating loss of $18 million, or a negative 5.8% operating margin [25][26] - The company ended with an adjusted net loss per share of $0.92, influenced by non-cash impairment charges totaling $61 million related to the Johnny Was trademark [26] Business Line Data and Key Metrics Changes - Lilly Pulitzer experienced strong growth with total sales increasing year-over-year, driven by double-digit growth in retail and high single-digit growth in e-commerce [23] - The Emerging Brands Group also posted strong year-over-year sales gains, while Tommy Bahama and Johnny Was saw low single-digit negative comps [23][24] - Tommy Bahama's comps improved sequentially to down low single digits from down high single digits earlier in the year, indicating progress in addressing earlier weaknesses [8] Market Data and Key Metrics Changes - The overall retail environment remained highly competitive and promotional, with consumers showing heightened sensitivity to value [4][12] - The holiday selling period has been more promotional than the previous year, contributing to a slower start for the company [12][14] - The Emerging Brands Group, including Southern Tide and Duck Head, showed strong momentum, benefiting from loyal customer bases and focused product stories [17] Company Strategy and Development Direction - The company is focused on improving profitability and has begun implementing cost reduction initiatives, including efforts around indirect spend and SG&A efficiencies [19][20] - A new state-of-the-art fulfillment center is under construction, expected to enhance direct-to-consumer capabilities [7] - The company aims to refine its sourcing strategies to mitigate tariff impacts and improve product assortments for future seasons [20][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by tariffs and a competitive promotional environment, but expressed confidence in the long-term potential of the brands [18][19] - The company expects fourth-quarter performance to land below previous guidance due to a slower start to the holiday season [18] - Management remains focused on delivering fresh, differentiated products that align with brand heritage to meet consumer expectations [17][19] Other Important Information - The company anticipates a net tariff impact of approximately $25 million to $30 million for fiscal 2025, significantly affecting margins [30] - Capital expenditures are expected to decline significantly as the new fulfillment center is completed, allowing for reduced debt levels [20][28] Q&A Session Summary Question: How meaningful would the assortment gap be for the upcoming season? - Management indicated that the assortment issues were primarily related to current inventory and that future assortments would not face the same challenges due to improved tariff conditions [41][43] Question: What is the current promotional intensity in the marketplace? - Management noted that promotional intensity remains high but is expected to be responsive to market conditions while maintaining brand integrity [45][46] Question: Can you elaborate on the wholesale situation? - Management acknowledged cautious behavior from wholesale partners and indicated a strategic plan to manage inventory levels effectively [54][56] Question: What are the plans for price increases in spring 2026? - Management indicated that price increases would range from 4% to 8% to offset tariff impacts, with a focus on mitigating dollar impacts rather than percentage impacts [82]

Financial Data and Key Metrics Changes - In Q3 of fiscal 2025, consolidated net sales were $307 million, slightly down from $308 million in Q3 of fiscal 2024, within the guidance range of $295 million to $310 million [23] - Adjusted gross margin contracted by 200 basis points to 61%, primarily due to increased cost of goods sold from tariffs and a change in sales mix [25] - Adjusted SG&A expenses increased by 4% to $209 million compared to $201 million last year, driven by higher employment, occupancy, and depreciation costs [26] - The company reported an adjusted net loss per share of $0.92, with non-cash impairment charges totaling $61 million related to the Johnny Was trademark [27] Business Line Data and Key Metrics Changes - Lilly Pulitzer experienced strong growth with total sales increasing year-over-year, driven by double-digit growth in retail and high single-digit growth in e-commerce [24] - Tommy Bahama saw a low single-digit negative comp, although comps improved sequentially from down high single digits earlier in the year [8][24] - Johnny Was faced a high single-digit negative comp, leading to sales decreases, despite efforts to strengthen the brand through leadership changes and business improvement plans [10][24] Market Data and Key Metrics Changes - The overall consumer environment remained highly competitive and promotional, with consumers being selective in discretionary spending [4] - The holiday selling period was more promotional than the previous year, impacting sales performance [12] - The Emerging Brands Group showed strong momentum, with year-over-year sales gains, reflecting growing recognition and customer engagement [18] Company Strategy and Development Direction - The company is focused on improving profitability and has begun implementing cost reduction initiatives, including efforts around indirect spend and SG&A efficiencies [20] - There is a clear emphasis on enhancing merchandising effectiveness, marketing efficiency, and improving the go-to-market process, particularly for Johnny Was [46] - The company plans to continue investing in long-term brand strength while managing tariff impacts and promotional pressures [21][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by tariff-related product limitations and a highly promotional environment affecting holiday sales [12][19] - The company expects fourth-quarter performance to land below previous guidance due to a slower start to the holiday season [19] - Looking ahead to fiscal 2026, the company is optimistic about realizing benefits from cost reduction initiatives and improved merchandising strategies [20] Other Important Information - The company is in the final stages of constructing a new fulfillment center, which is expected to enhance direct-to-consumer capabilities [6] - Capital expenditures are expected to decline significantly as the new fulfillment center is completed [21] - The company anticipates a net tariff impact of approximately $25 million to $30 million for fiscal 2025, contributing to margin contraction [31] Q&A Session Summary Question: How meaningful would the assortment gap be for the upcoming season? - Management indicated that the assortment gap was primarily due to sourcing decisions made under tariff uncertainty, but they expect to have a more complete assortment for spring [38][40] Question: What is the current promotional intensity in the marketplace? - Management noted that promotional intensity remains high, but they are adapting their promotional strategies to remain competitive [42] Question: Can you elaborate on the wholesale situation? - Management acknowledged cautious behavior from wholesale partners, with less inventory needing liquidation through off-price channels [47][48] Question: What are the plans for price increases to offset tariffs? - Management indicated that price increases are planned for spring, ranging from 4% to 8%, to help mitigate tariff impacts [59] Question: How are the brands performing quarter to date? - Management reported broad-based weakness in the larger brands, while smaller brands continue to perform well [54]

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