onurdongel I last covered Oxford Industries, Inc. (NYSE:OXM) in February; I put out a Buy rating at the time based on discounted-earnings undervaluation and reasonably strong growth, including notes on a potential target market opportunity in upper-class luxury, a slight shift from management's current focus on middle-class consumers. Now, the company has had its Q2 2024 results, and the stock is down about 10% in pre-market hours as I write this due to a weak Q2 report. The total return since my last analy ...

Key Takeaways Tommy Bahama parent Oxford Industries missed second-quarter profit and sales estimates and slashed its outlook amid a "challenging consumer environment." CEO Tom Chubb said market conditions were weaker than expected. Shares of Oxford Industries tumbled to a more than two-year low. Shares of Oxford Industries (OXM) sank to their lowest level in more than two years after the clothing retailer posted worse-than-expected results and slashed its guidance as it faced what Chief Executive Officer (C ...

U.S. stock futures were higher this morning, with the Dow futures gaining around 0.2% on Thursday. Shares of Oxford Industries, Inc. OXM shares declined 10.3% to $75.02 in pre-market trading after the company reported weaker-than-expected earnings and sales results for the second quarter. Oxford Industries reported quarterly earnings of $2.77 per share which missed the analyst consensus estimate of $3.00 per share. Quarterly sales of $419.886 million missed the analyst consensus estimate of $438.176 million ...

Oxford Industries (OXM) came out with quarterly earnings of $2.77 per share, missing the Zacks Consensus Estimate of $3.05 per share. This compares to earnings of $3.45 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -9.18%. A quarter ago, it was expected that this owner of the Tommy Bahama, Lilly Pulitzer and Southern Tide clothing lines would post earnings of $2.70 per share when it actually produced earnings of $2.66, deli ...

Financial Performance - Consolidated net sales for Q2 fiscal 2024 were $420 million, unchanged from Q2 fiscal 2023, with GAAP EPS at $2.57 compared to $3.22 in the prior year[1][6] - Net sales for the second quarter of fiscal 2024 were $419,886,000, slightly down from $420,319,000 in the same quarter of fiscal 2023, a decrease of 0.1%[23] - Operating income fell to $53 million (12.5% of net sales) from $68 million (16.1% of net sales) in the prior year[8] - Net earnings for the second quarter of fiscal 2024 were $40,642,000, down from $51,453,000 in the same quarter of fiscal 2023, a decrease of 21.0%[23] - Operating income decreased to $52,510,000 in the second quarter of fiscal 2024 from $67,674,000 in the same quarter of fiscal 2023, a drop of 22.4%[23] - Net earnings for the first fiscal quarter of 2024 were $79.0 million, a decrease of 28.2% compared to $109.99 million in the first half of fiscal 2023[24] Sales and Revenue - Full-price direct-to-consumer sales increased by 1% to $305 million, while outlet sales rose by 4% to $21 million[6] - Johnny Was net sales were $50.3 million, a decrease of 3.4% from $52.0 million in the previous quarter[26] - Net sales for Tommy Bahama were $245.1 million, a slight decrease of 0.1% compared to $245.4 million in the previous quarter[26] - Consolidated net sales reached $419.9 million, down 0.1% from $420.3 million in the prior quarter[26] Expenses and Margins - Gross margin decreased to 63.1% from 63.9% in Q2 fiscal 2023, primarily due to a higher proportion of sales occurring during promotional events[7] - SG&A expenses increased to $217 million from $205 million, driven by costs related to 30 new store openings[8] - SG&A expenses as a percentage of net sales rose to 51.6% in the second quarter of fiscal 2024, compared to 48.8% in the same quarter of fiscal 2023[25] - Gross profit margin for Tommy Bahama was 61.5% in fiscal 2024, down from 63.3% in fiscal 2023, reflecting a 3.0% decline[25] - Gross profit for the consolidated segment was $265.0 million in the second quarter of fiscal 2024, down 1.4% from $268.7 million in the same quarter of fiscal 2023[25] Guidance and Projections - The company revised its fiscal 2024 sales guidance to a range of $1.51 billion to $1.54 billion, down from $1.57 billion in fiscal 2023[13] - GAAP EPS for fiscal 2024 is now expected to be between $6.28 and $6.58, compared to $3.82 in fiscal 2023[13] - The company expects net earnings per diluted share for Fiscal 2024 to be between $6.28 and $6.58, compared to $3.82 in Fiscal 2023[29] Capital Expenditures and Investments - Capital expenditures for fiscal 2024 are projected to be approximately $150 million, including $75 million for a new distribution center project[15] - Cash used in investing activities increased to $54.1 million in the first fiscal quarter of 2024, compared to $32.6 million in the first half of fiscal 2023[24] Dividends - A quarterly cash dividend of $0.67 per share was declared, payable on November 1, 2024[12] - The company declared dividends of $0.67 per share, up from $0.65 per share in the previous quarter[22] Store Openings and Locations - The company plans to open approximately 30 new full-price stores by the end of fiscal 2024, with 15 expected to open in the second half of the year[15] - The total number of direct-to-consumer locations for Oxford increased from 295 at the end of Q1 Fiscal 2023 to 315 at the end of Q4 Fiscal 2023, representing a growth of approximately 6.8%[31] - The total number of Tommy Bahama full-price retail stores remained stable at 102 by the end of Q1 Fiscal 2024, with a slight increase to 103 by the end of Q2 Fiscal 2024[32] - Johnny Was full-price retail stores increased from 71 at the end of Q3 Fiscal 2023 to 72 by the end of Q4 Fiscal 2023[31] - Southern Tide full-price retail stores grew from 15 at the end of Q3 Fiscal 2023 to 19 by the end of Q4 Fiscal 2023, marking a growth of 26.7%[31] Corporate Developments - The company is focusing on integrating the acquisition of Johnny Was to realize anticipated synergies and minimize disruptions[20] - The company reported a transition of Johnny Was distribution center operations from Los Angeles to Lyons, Georgia, incurring various related costs[1] - Johnny Was experienced impairment charges impacting net earnings per share in Fiscal 2023[1] Assets and Liabilities - Total current assets increased to $287,196,000 from $282,380,000 year-over-year, representing a growth of 2.9%[21] - Total assets rose to $1,172,522,000 from $1,149,858,000, marking an increase of 2.0%[21] - Total liabilities decreased slightly to $550,966,000 from $552,000,000, a reduction of 0.2%[21]

ATLANTA, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Oxford Industries, Inc. (NYSE:OXM) today announced financial results for its second quarter of fiscal 2024 ended August 3, 2024. Consolidated net sales in the second quarter of fiscal 2024 of $420 million were comparable to sales in the second quarter of fiscal 2023. EPS on a GAAP basis was $2.57 compared to $3.22 in the second quarter of fiscal 2023. On an adjusted basis, EPS was $2.77 compared to $3.45 in the second quarter of fiscal 2023. Tom Chubb, Chairman an ...

ATLANTA, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Oxford Industries, Inc. (NYSE: OXM) today announced that it plans to release its second quarter fiscal 2024 financial results after the market close on Wednesday, September 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 ...

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 999 Peachtree Street, N.E., Suite 688, Atlanta, Georgia 30309 (Address of principal executive offices) (Zip Code) For the quarterly period ended May 4, 2024 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 ...

felixmizioznikov/iStock Editorial via Getty Images Investment Thesis: I take a bullish view on Oxford Industries. In a previous article back in January 2023, I made the argument that Oxford Industries (NYSE:OXM) has the potential for a rebound going forward, on the basis of continued growth in sales. Since then, the stock is up by just over 10%: TradingView.com The purpose of this article is to assess whether Oxford Industries has the capacity for further upside from here, taking recent earnings results int ...

Over the last four quarters, the company has surpassed consensus EPS estimates just once. Oxford Industries shares have added about 2% since the beginning of the year versus the S&P 500's gain of 12.7%. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings e ...