Oxford Industries Tops Q1 Earnings Guidance, Maintains Full-Year Outlook (OXM)


Oxford Industries Inc. (NYSE: OXM) reported on Tuesday that fiscal first quarter net income fell 24% as the bottom line felt the pressure due to higher taxes and rise in expenses while weak sales in some of the less popular product categories also hurt the top line growth.

The high end clothing retailer, which is based in Atlanta, is known for brands such as Lilly Pulitzer, Lanier Clothes, Ben Sherman Clothing line and Tommy Bahama.

For the fiscal first quarter, Oxford Industries reported a net income of $13.6 million or 82 cents a share compared to a profit of $18 million or $1.09 a share, in the year-earlier quarter.

Revenue rose to $234.2 million from $231 million. Analysts’ consensus estimate was for earnings of 77 cents a share on revenue of $237.6 million, according to data compiled by FactSet.

Revenue edged up to $234.2 million from $231 million, as sales of Tommy Bahama and Lilly Pulitzer helped offsetting weakness in some of the other brands.

Commenting over the results, Oxford Industries’ President and CEO Thomas C. Chubb III said that the Company was satisfied with its performance and continue to invest on its most popular brands in order to drive up its future growth. The CEO added that the company intends to open stores outside the U.S.

For the current fiscal quarter, the Company anticipates earnings to be in the range of 92 cents to $1.02 a share on revenue of $240 million to $250 million. Analysts’ consensus estimate was for 94 cents a share on revenue of $233.8 million.

The Company reaffirmed its full-year earnings guidance, which is expected between $3 and $3.15 a share on revenue of $930 million to $940 million. Analysts’ expectation was for earnings of $3.09 a share on revenue of $939.2 million.

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edliston
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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