Tommy Bahama Parent Oxford Industries' Results Hurt by Inflation, Hurricanes

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]