Financial Data and Key Metrics Changes - The company reported consolidated net sales for fiscal 2024 decreased by 3% to $1.52 billion, with a notable impact from a 53rd week in 2023 contributing approximately $16 million to sales [16][17] - Adjusted EPS for the fourth quarter was $6.68, at the top end of guidance [20] - Adjusted gross margin contracted by 80 basis points to 63.2%, primarily due to a higher proportion of sales during promotional events [17][23] Business Line Data and Key Metrics Changes - Sales in full-price brick-and-mortar locations decreased by 2%, while e-commerce sales fell by 4% [16][17] - Food and beverage and outlet locations saw a 13% sales increase, driven by new locations [17] - The wholesale channel experienced a 10% decline, with a $31 million decrease attributed to struggles in the specialty store business [17] Market Data and Key Metrics Changes - Comparable store sales (comps) increased by 2% in December but fell by 3% in January and further declined by 9% in February [6][16] - The company anticipates a cautious consumer environment, with expectations of hesitance in spending between major shopping events [7][22] Company Strategy and Development Direction - The company focuses on maximizing long-term shareholder value, owning a portfolio of lifestyle brands, evoking happiness in consumers, and generating cash for reinvestment [8][10] - Plans for fiscal 2025 include enhancing the omni-channel platform, opening approximately 20 new stores, and completing a new distribution center [14][15][29] - The company aims to protect brand integrity and avoid short-term fixes that could harm long-term prospects [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term opportunities despite current headwinds, emphasizing the importance of controlling controllables [7][10] - The outlook for fiscal 2025 includes projected net sales between $1.49 billion and $1.53 billion, with expectations of a decline in comps [22][23] - Management noted that the first half of fiscal 2025 may see strong sales due to upcoming holidays, but overall consumer spending is expected to remain cautious [6][7] Other Important Information - The company has initiated a $100 million share repurchase program and increased its quarterly dividend by 3% [15][29] - Inventory at the end of fiscal 2024 was up 5%, primarily due to early shipments from Asia ahead of new tariffs [20][21] Q&A Session Summary Question: Insights on first quarter guidance and headwinds - Management noted Lilly is performing well, while other brands are experiencing some challenges, particularly with the Easter shift affecting March comps [32][33] Question: Observations on wholesale partners' order books - Management acknowledged concerns about major retailers pulling back orders but highlighted strong performance on retail floors [36][37] Question: Details on Johnny Was brand performance and plans - Management indicated a focus on improving retail performance and rebuilding the wholesale business, with an emphasis on classic collection products [38][39] Question: Customer response to new product assortments - Management confirmed that newness in product assortments is driving business, particularly in major brands like Tommy Bahama and Lilly Pulitzer [43][46] Question: Tariff impacts and mitigation strategies - Management discussed the anticipated tariff impact of $9 million to $10 million and ongoing efforts to mitigate these costs through various strategies [68][70]

Financial Data and Key Metrics Changes - The company reported consolidated net sales for fiscal 2024 decreased by 3% to $1.52 billion, with a notable impact from a 53rd week in 2023 contributing approximately $16 million in sales [26] - Adjusted EPS for the fourth quarter was $6.68, at the top end of guidance [33] - Adjusted gross margin contracted by 80 basis points to 63.2%, primarily due to a higher proportion of sales occurring during promotional events [28] Business Line Data and Key Metrics Changes - Sales in full-price brick-and-mortar locations decreased by 2%, driven by mid-single-digit negative comps, partially offset by new store openings [26] - E-commerce sales decreased by 4%, while food and beverage and outlet locations saw sales increases of 1% and 3%, respectively [27] - The wholesale channel experienced a significant decline, decreasing by $31 million or 10% due to challenges in the specialty store business [27] Market Data and Key Metrics Changes - Comp sales for December increased by 2%, but January saw a decline of 3%, with February experiencing a further drop of 9% [7][9] - The company anticipates a continued cautious consumer sentiment impacting spending in the near term [11] Company Strategy and Development Direction - The company focuses on maximizing long-term shareholder value, owning a portfolio of lifestyle brands, evoking happiness in consumers, and generating cash for reinvestment [12][13][15][16] - Plans for fiscal 2025 include opening approximately 20 new stores and enhancing the omnichannel platform [22][39] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the uncertainty in the marketplace and expects consumer hesitance to continue, particularly in the first half of fiscal 2025 [11] - The company remains optimistic about long-term opportunities despite short-term challenges, emphasizing the importance of brand integrity and customer focus [14][16] Other Important Information - The company plans to invest approximately $125 million in capital expenditures for fiscal 2025, primarily for the completion of a new distribution center and new store openings [44] - A 3% increase in the quarterly dividend was approved, raising it from $0.67 to $0.69 [23] Q&A Session Summary Question: Can you unpack the different headwinds mentioned for the first quarter? - Management noted that Lilly is currently the strongest performer, while Tommy Bahama and Johnny Was are expected to have negative comps [52][53] Question: Are you observing any changes in wholesale order books? - Management indicated that there is caution among wholesale partners, but performance on retail floors remains strong [56][94] Question: What initiatives are being taken to improve conversion rates? - The company is focusing on better product knowledge among associates, improving website functionality, and enhancing marketing efficiency [73] Question: What is the outlook for March sales? - Management expressed that March feels better than February, with expectations for a positive comp in April due to the Easter shift [81] Question: How is the company managing SG&A growth? - Management is actively looking at marketing efficiency, vendor negotiations, and has made some personnel reductions to control SG&A [87]

Financial Performance - Consolidated net sales for Q4 fiscal 2024 were $391 million, a decrease of 3% from $404 million in Q4 fiscal 2023[2]. - For the full fiscal year 2024, consolidated net sales decreased 3% to $1.52 billion compared to $1.57 billion in fiscal 2023[3]. - Net sales for Fiscal 2024 were $1,516.6 million, a decrease of 3.5% compared to $1,571.5 million in Fiscal 2023[31]. - Consolidated net sales for the company decreased by 3.4% to $390.5 million in Q4 2024, compared to $404.4 million in Q4 2023[36]. - Tommy Bahama's net sales decreased by 2.5% to $237.6 million in Q4 2024, compared to $243.8 million in Q4 2023[35]. - Lilly Pulitzer's net sales fell by 5.7% to $74.0 million in Q4 2024, consistent with the previous year's $78.4 million[35]. - Johnny Was reported a 9.3% decline in net sales, totaling $47.4 million in Q4 2024, down from $52.2 million in Q4 2023[35]. Earnings and Profitability - Diluted EPS on a GAAP basis for Q4 fiscal 2024 was $1.13, compared to a loss of $3.85 in Q4 fiscal 2023[2]. - Adjusted EPS for fiscal 2024 was $6.68, down from $10.15 in fiscal 2023[3]. - Operating income for the fourth quarter of Fiscal 2024 was $20.3 million, compared to an operating loss of $81.5 million in the fourth quarter of Fiscal 2023[31]. - Net earnings for Fiscal 2024 were $93.0 million, an increase of 53.2% from $60.7 million in Fiscal 2023[33]. - Basic net earnings per share for Fiscal 2024 were $5.94, up from $3.89 in Fiscal 2023[31]. - Net earnings for the consolidated entity reached $17.9 million in Q4 2024, compared to a loss of $60.1 million in Q4 2023, marking a 129.8% improvement[35]. - Net earnings per diluted share improved to $1.13 in Q4 2024, compared to a loss of $3.85 in Q4 2023, reflecting a 129.3% increase[35]. Margins and Expenses - Gross margin for fiscal 2024 was 62.9% on a GAAP basis, down from 63.4% in the prior year[7]. - Gross profit for Fiscal 2024 was $954.6 million, down from $995.6 million in Fiscal 2023, reflecting a gross margin of 62.9%[31]. - Gross profit for the consolidated entity fell by 3.9% to $236.7 million in Q4 2024, down from $246.3 million in Q4 2023[36]. - The company's SG&A expenses increased by 1.2% to $220.2 million in Q4 2024, compared to $217.5 million in Q4 2023[36]. - The gross margin for the consolidated entity was 60.6% in Q4 2024, slightly down from 60.9% in Q4 2023[36]. Future Guidance - The company expects fiscal 2025 net sales to be between $1.49 billion and $1.53 billion, compared to $1.52 billion in fiscal 2024[15]. - For Q1 fiscal 2025, net sales are expected to be between $375 million and $395 million, compared to $398 million in Q1 fiscal 2024[16]. - For Fiscal 2025, the company provided guidance for net earnings per diluted share of $4.21 - $4.61, compared to actual earnings of $5.87 in Fiscal 2024[37]. Capital and Assets - Capital expenditures for fiscal 2025 are projected to be approximately $125 million, down from $134 million in fiscal 2024[18]. - Total assets increased to $1,289.8 million as of February 1, 2025, compared to $1,097.8 million as of February 3, 2024[29]. - Total current liabilities increased to $248.3 million as of February 1, 2025, compared to $240.6 million as of February 3, 2024[29]. - The company repaid $401.6 million in revolving credit arrangements during Fiscal 2024[33]. Shareholder Actions - The company initiated a $100 million share repurchase authorization, completing a $50 million program in Q1 fiscal 2025[13][14]. Store Locations - The company reported a total of 315 direct-to-consumer locations by the end of Q4 Fiscal 2024, an increase from 309 locations in Q3 Fiscal 2024[39]. - The number of full-price retail stores for Johnny Was increased to 75 by the end of Q4 Fiscal 2024, up from 73 in Q3 Fiscal 2024[39]. - The company reported a total of 166 Tommy Bahama locations by the end of Q4 Fiscal 2024, a slight decrease from 168 in Q3 Fiscal 2024[39]. - The company reported 30 Southern Tide full-price retail stores by the end of Q4 Fiscal 2024, an increase from 28 in Q3 Fiscal 2024[39]. Other Financial Adjustments - The effective tax rate for fiscal 2024 was 20%, compared to 19% for fiscal 2023, with a projected return to a normalized rate of 25% in fiscal 2025[11]. - The company experienced a LIFO adjustment impact of $0.00 in Q4 Fiscal 2024, with an adjustment of $0.11 in Q1 Fiscal 2025[37]. - The company incurred impairment charges of $113.6 million in Fiscal 2023 related to goodwill and intangible assets[31]. - The company incurred Johnny Was distribution center relocation costs of $0.14 in Q4 Fiscal 2024, compared to $0.00 in Q4 Fiscal 2023[37].

Core Insights - Oxford Industries, Inc. reported a consolidated net sales of $391 million for the fourth quarter of fiscal 2024, a decrease of 3% compared to $404 million in the fourth quarter of fiscal 2023 [2] - The company achieved diluted earnings per share (EPS) of $1.13 on a GAAP basis, a significant improvement from a loss of $3.85 in the same quarter last year [2] - For the full fiscal year 2024, consolidated net sales decreased by 3% to $1.52 billion, while EPS increased to $5.87 from $3.82 in fiscal 2023 [3] Financial Performance - Fourth quarter consolidated net sales were $391 million, down from $404 million in the prior year, reflecting a 3% decline [2][4] - Full fiscal year 2024 net sales were $1.52 billion, a decrease from $1.57 billion in fiscal 2023, also a 3% decline [3][6] - Adjusted EPS for the fourth quarter was $1.37, down from $1.90 in the previous year [2] - Full-year adjusted EPS was $6.68, compared to $10.15 in fiscal 2023 [3] Segment Performance - Tommy Bahama's fourth quarter sales were $237.6 million, down 3% from $243.8 million in the prior year [4] - Lilly Pulitzer's fourth quarter sales decreased by 6% to $74.0 million [4] - Johnny Was experienced a 9% decline in fourth quarter sales, totaling $47.4 million [4] - Emerging Brands saw a 5% increase in fourth quarter sales, reaching $31.6 million [4] Balance Sheet and Liquidity - Inventory increased by $8 million, or 5%, on a LIFO basis compared to the end of fiscal 2023 [7] - Cash flow from operations was $194 million in fiscal 2024, down from $244 million in fiscal 2023 [8] - Long-term debt rose by $2 million to $31 million at the end of fiscal 2024 [9] Dividend and Share Repurchase - The Board of Directors declared a quarterly cash dividend of $0.69 per share, a 3% increase from the previous dividend [11] - The company completed a $50 million share repurchase program, buying back 842,000 shares at an average price of $59.38 [12][13] Outlook - For fiscal 2025, the company expects net sales between $1.49 billion and $1.53 billion [14] - GAAP EPS for fiscal 2025 is projected to be between $4.21 and $4.61, down from $5.87 in fiscal 2024 [14] - The first quarter of fiscal 2025 is expected to see net sales between $375 million and $395 million [15]

Core Viewpoint - Oxford Industries, Inc. is expected to report a decline in quarterly earnings and revenue in its upcoming financial results, with analysts maintaining a Market Perform rating and adjusting the price target downward [1][2]. Financial Performance - The company will release its fourth-quarter financial results on March 27, with expected earnings of $1.27 per share, down from $1.90 per share in the same period last year [1]. - Projected quarterly revenue is $383.94 million, compared to $404.43 million a year earlier [1]. Analyst Ratings - Telsey Advisory Group analyst Dana Telsey has maintained a Market Perform rating for Oxford Industries and lowered the price target from $86 to $68 [2]. Dividend Information - Oxford Industries currently offers an annual dividend yield of 4.34%, translating to a quarterly dividend of 67 cents per share, or $2.68 annually [2]. - To achieve a monthly income of $500 from dividends, an investment of approximately $138,303 or around 2,239 shares is required [3]. - For a more modest monthly income of $100, an investment of $27,673 or around 448 shares is needed [3]. Dividend Yield Calculation - The dividend yield is calculated by dividing the annual dividend payment by the stock's current price, which can fluctuate based on changes in stock price and dividend payments [4][5]. - For example, if a stock pays an annual dividend of $2 and is priced at $50, the yield is 4%. If the price rises to $60, the yield drops to 3.33% [4]. Stock Performance - Shares of Oxford Industries gained 0.6% to close at $61.77 on Wednesday [5].

Group 1 - The performance of Oxford Industries has been significantly poor over the past year, indicating challenges within the North American branded apparel industry [1] - Other small-cap stocks have also experienced minimal movement, with discretionary stocks showing a decline [1]

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]