Group 1 - Oxford Industries (OXM) shares increased by 7.5% to close at $60.98, following a notable trading volume, despite a 22.9% loss over the past four weeks [1] - The company is experiencing optimism due to improving consumer sentiment and new product launches, while focusing on expense control and operational improvements to stabilize margins [1] - The upcoming quarterly earnings are expected to be $1.28 per share, reflecting a year-over-year decline of 32.6%, with revenues projected at $385.7 million, down 4.6% from the previous year [2] Group 2 - The consensus EPS estimate for Oxford Industries has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] - Oxford Industries holds a Zacks Rank of 3 (Hold), similar to PVH, which closed 2.4% higher at $65.37 but has seen a -17.9% return in the past month [4] - PVH's consensus EPS estimate is $3.19, unchanged over the past month, representing a year-over-year change of -14.3% [5]

Group 1: Company Overview - Oxford Industries, Inc. is a leader in the apparel industry, owning brands such as Tommy Bahama®, Lilly Pulitzer®, and Johnny Was® [5] - The company has been publicly traded on the New York Stock Exchange since 1964 under the symbol OXM [5] Group 2: New Distribution Center - Oxford Industries has selected Exotec to automate a new 560,000+-square-foot distribution center in Lyons, Georgia [1][3] - The facility is designed to process over 20 million units annually, making it Exotec's largest and most intricate robotic deployment to date [2] - The new center will enhance productivity and support the ongoing business growth of Oxford Industries [1][3] Group 3: Automation Technology - The Next Generation Skypod system will consist of over 450,000 storage locations and more than 450 robots, serving as the picking engine for the warehouse [2] - Exotec's system will integrate hardware and software with third-party machinery to provide end-to-end warehouse automation, including receiving, sorting, and packing [2] - The automation will streamline the returns process, significantly reducing time and labor for inspecting, sorting, and storing returned items [2] Group 4: Strategic Importance - The new facility is expected to open in late 2025 and will play a critical role in supporting Oxford Industries' future operations [3] - The location offers convenient access to Southeastern U.S. ports, enhancing direct-to-consumer throughput capabilities for the brands [3]

Company Announcement - Oxford Industries, Inc. plans to release its fourth quarter fiscal 2024 financial results after the market close on March 27, 2025 [1] - A conference call will be held at 4:30 p.m. ET on the same day, hosted by the CEO and CFO to discuss the financial results [1] Webcast Information - A live webcast of the conference call will be available on the company's website [2] - A replay of the webcast will be accessible through April 10, 2025, both on the website and via phone [2] Company Overview - Oxford is a leader in the apparel industry, owning brands such as Tommy Bahama, Lilly Pulitzer, and Johnny Was [3] - The company's stock has been traded on the New York Stock Exchange since 1964 under the symbol OXM [3]

Group 1 - Oxford Industries, Inc. will present at the ICR Conference 2025 on January 14, 2025, at 8:30 a.m. Eastern Time [1] - The presentation will be accessible via webcast on the Oxford website [1] - Oxford Industries is a leader in the apparel industry, owning several lifestyle brands including Tommy Bahama®, Lilly Pulitzer®, and others [2] Group 2 - Oxford's stock has been traded on the New York Stock Exchange since 1964 under the symbol OXM [2] - For further information, the company can be contacted through their investor relations email [3]

Company Performance - Oxford Industries (OXM) reported a worsening comparable sales downtrend in 3Q24, affecting its three major brands: Tommy Bahama, Lilly Pulitzer, and Johnny Was [2] - The company has reduced its guidance again, despite expecting a sequential improvement [2] Investment Strategy - The analysis focuses on long-only investment, evaluating companies from an operational, buy-and-hold perspective [2] - The approach emphasizes understanding long-term earnings power and competitive dynamics rather than market-driven price actions [2] - Most recommendations are holds, with only a small fraction of companies considered buys at any given time [2]

Group 1 - Oxford Industries, Inc. reported a challenging quarter with a Non-GAAP EPS of -$0.11, missing expectations by $0.20 [1] - The company's revenue for the quarter was $308 million, which fell short of estimates by $8.83 million [1]

Core Insights - Oxford Industries reported a surprising loss in the third quarter, with revenue declining due to inflation and the impact of hurricanes on consumer demand [1][2] - The company has cut its full-year guidance, anticipating lower sales and adjusted profit compared to previous estimates [1][3] Financial Performance - Oxford posted a third-quarter adjusted loss of $0.11 per share, while analysts expected a profit of $0.09 per share [2] - Revenue fell nearly 6% year-over-year to $308.0 million, which was below forecasts [2] - Sales at Tommy Bahama dropped 5.2% to $161.3 million, Lilly Pulitzer sank 8.5% to $69.8 million, and Johnny Was fell 6.1% to $46.1 million [2] Management Commentary - CEO Tom Chubb attributed the results to high inflation and distractions from U.S. elections, leading to tentative consumer spending [3] - Hurricanes Helene and Milton caused an estimated $4 million in lost sales, contributing to a $0.14-per-share profit decline [3] Revised Outlook - The company now expects full-year sales of $1.50 billion to $1.52 billion, down from a previous estimate of $1.51 billion to $1.54 billion [3] - Adjusted profit is anticipated to be between $6.50 and $6.70 per share, compared to the earlier outlook of $7.00 to $7.30 [3]

Financial Data and Key Metrics - Q3 2024 consolidated net sales were $308 million, down from $327 million in Q3 2023, below the guidance range of $310-325 million [30] - Adjusted net loss per share was $0.11, below guidance, with a $0.14 negative impact from hurricanes [11][12] - Adjusted gross margin contracted 100 basis points to 63% due to higher promotional sales [33] - Adjusted SG&A expenses increased 5% to $201 million, driven by new store openings and hurricane-related costs [34][35] - Adjusted operating loss was $3 million (negative 1.1% margin) compared to a $21 million profit (6.6% margin) in Q3 2023 [36] Business Line Performance - Full-price brick-and-mortar sales down 6%, e-commerce down 11%, while food & beverage and outlet sales increased 4% and 3% respectively [32] - Wholesale channel sales down 2%, with specialty stores struggling but department store sales improving [33] - Tommy Bahama's Indigo Palms denim and Luxe sweaters performed well, driving higher gross margins and average order values [21][23] - Lilly Pulitzer's whimsical products like the Ellery sweater and items with bows/sequins saw strong demand [24] Market Performance - Southeastern US, particularly Florida, was heavily impacted by hurricanes, with $4 million in lost sales and significant cleanup costs [9][11][31] - Post-election, consumer sentiment improved, leading to better comp store sales in November and a strong Thanksgiving weekend [18][20] - Outlet stores and food & beverage locations outperformed full-price stores, reflecting consumer preference for value-oriented channels [32][42] Strategy and Industry Competition - Company continues to invest in new stores, Marlin Bars, distribution centers, and technology despite short-term headwinds [17] - Focus on premium, full-price strategy remains a long-term competitive strength, though it poses challenges in the current promotional environment [10][11] - Plans for 2025 include stabilizing and expanding operating margins through better expense control and leverage [25][26] Management Commentary on Environment and Outlook - Management noted a challenging consumer environment due to high inflation, election distractions, and hurricane impacts [7][9][29] - Encouraged by improving sales trends and strong wholesale bookings for 2025 [26][75] - Revised full-year 2024 sales forecast to $1.5-1.52 billion, a 3-4% decline from 2023, with low to mid-single-digit declines in major brands [41][42] - Expects Q4 2024 sales of $375-395 million, with flat gross margins and low single-digit SG&A growth [45][46] Other Important Information - Company opened 12 net new retail locations in Q3, bringing total store count to 342 [17] - Lyons, Georgia distribution center project is a significant capital expenditure, expected to enhance direct-to-consumer capabilities [47] - Jack Rogers brand, acquired in Q4 2023, is expected to generate a $2.5 million operating loss in 2024 [43] Q&A Summary Question: Store comp improvements in Q4 and holiday performance [52] - All brands improved sequentially post-election, with Lilly slightly positive and others in low single-digit negative range [53][54] Question: Wholesale order book for resort season and newness strategy [55] - Resort wholesale selling is strong, with some reorders for at-once delivery, though Q4 wholesale sales are expected to be down [56][57] - Early 2025 bookings are encouraging, with strong performance on wholesale floors [58][59] Question: Tariff uncertainty and sourcing strategy [63] - Company has exposure to China but no exposure to Mexico, with plans to move some production out of China and share tariff costs with vendors if necessary [64][65][66] Question: Promotional activity during holiday season [68] - Promotional activity started earlier this year, with more business done during promotional events, particularly in Lilly [69][70] Question: 2025 operating margin improvement and Marlin Bar economics [74] - Focus for 2025 is on improving operating margins through expense management and leverage [75][76] - Marlin Bars are efficient, with food & beverage locations averaging twice the sales per square foot of standalone stores [78][79] Question: Q4 gross margin improvement drivers [81] - Higher mix of direct-to-consumer sales and better inventory positioning are driving Q4 gross margin improvement [82] Question: Full-price sales percentage and outlet performance [85] - Proportion of sales during promotional events has increased, impacting margins [87] - Outlet stores account for around 20% of business, with strong performance driven by both traffic and conversion [88][89] Question: Promotional sales performance [90] - Higher promotional sales mix is due to both weaker full-price sales and better-than-expected performance during promotional events [91]

ATLANTA, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Oxford Industries, Inc. (NYSE:OXM) today announced financial results for its third quarter of fiscal 2024 ended November 2, 2024. Consolidated net sales in the third quarter of fiscal 2024 were $308 million compared to $327 million in the third quarter of fiscal 2023. Loss per share on a GAAP basis was $0.25 compared to net earnings per share of $0.68 in the third quarter of fiscal 2023. On an adjusted basis, loss per share was $0.11 compared to net earnings per sh ...

ATLANTA, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Oxford Industries, Inc. (NYSE: OXM) today announced that it plans to release its third quarter fiscal 2024 financial results after the market close on Wednesday, December 11, 2024. Following the news release, the company will also hold a conference call starting at 4:30 p.m. ET, hosted by Thomas C. Chubb lll, Chairman, Chief Executive Officer, and President, and K. Scott Grassmyer, Executive Vice President, Chief Financial Officer, and Chief Operating Officer, to d ...