Oxford Industries, Inc. ( (OXM) ) has released its Q4 earnings. Here is a breakdown of the information Oxford Industries, Inc. presented to its investors.
Oxford Industries, Inc., a prominent player in the apparel industry, owns and markets well-known lifestyle brands such as Tommy Bahama, Lilly Pulitzer, and Johnny Was. The company is listed on the New York Stock Exchange under the symbol OXM.
In its latest earnings report, Oxford Industries announced its financial results for the fourth quarter and full fiscal year 2024. The company reported a slight decline in consolidated net sales for both the quarter and the year, with fourth-quarter sales at $391 million and full-year sales at $1.52 billion. Despite the sales decline, the company achieved a significant improvement in earnings per share (EPS), reporting $1.13 for the fourth quarter compared to a loss in the previous year.
Key financial metrics highlighted in the report include a 3% decrease in net sales for the fiscal year, driven by declines in full-price retail and e-commerce sales. However, the company saw a 5% increase in emerging brands’ sales and a 3% increase in outlet sales. Operating income improved significantly, with a full-year operating income of $119 million compared to $81 million in the prior year. The company also completed a $50 million share repurchase program and increased its quarterly dividend by 3%.
Looking ahead, Oxford Industries anticipates a challenging first half of fiscal 2025 due to moderated consumer demand and economic uncertainties. The company expects net sales to range between $1.49 billion and $1.53 billion for fiscal 2025, with adjusted EPS projected between $4.60 and $5.00. Despite these challenges, the company remains confident in its business model and strategic plans to drive long-term growth and shareholder value.