Welcome to our dedicated page for Oxford Industries news (Ticker: OXM), a resource for investors and traders seeking the latest updates and insights on Oxford Industries stock.
Oxford Industries, Inc. (NYSE: OXM) is a premier international apparel design, sourcing, and marketing company. With a rich history dating back to 1942, the company has evolved from its domestic manufacturing origins to focus on the design, sourcing, and marketing of a diversified portfolio of lifestyle brands. These include well-known names such as Tommy Bahama, Lilly Pulitzer, and Southern Tide, along with a collection of tailored clothing and golf apparel under the Lanier Apparel brand.
Tommy Bahama is renowned for its upscale men's and women's sportswear, as well as its unique food and beverage outlets, including restaurants and bars that bring the brand's relaxed, island-inspired lifestyle to life. Lilly Pulitzer offers vibrant, upscale women's dresses and sportswear, while Johnny Was, acquired in 2022, adds a bohemian flair with its luxurious and eclectic collections. The company's product distribution strategy is multifaceted, encompassing department and specialty stores, national chains, specialty catalogs, mass merchants, and internet retailers.
Financially, Oxford Industries has demonstrated robust performance. For the second quarter of fiscal 2023, the company reported a 16% increase in net sales to $420 million. Despite challenging macroeconomic conditions and the impacts of wildfires on Maui, the company remains optimistic about long-term growth, supported by strong cash flow from operations and strategic investments in new retail and food and beverage locations.
Recently, Oxford launched its first Tommy Bahama Miramonte Resort & Spa in Palm Springs, further expanding its brand presence into the luxury travel industry. Additionally, the company has committed to significant capital expenditures, including a multi-year project to enhance its Southeastern United States fulfillment center, aimed at boosting direct-to-consumer capabilities.
Oxford Industries continues to prioritize shareholder value, paying quarterly dividends consistently since 1960 and engaging in strategic share repurchases. As of the end of fiscal 2023, the company had reduced its borrowings significantly, reflecting its strong balance sheet and operational efficiency.
Looking ahead to fiscal 2024, Oxford expects net sales to range between $1.630 billion and $1.670 billion. The company remains committed to its long-term strategy, focusing on brand strength, customer engagement, and operational excellence to drive sustainable growth and profitability.
Oxford Industries, Inc. (NYSE:OXM) has acquired Johnny Was, a California-based modern bohemian lifestyle brand, for $270 million. This acquisition is expected to be accretive to earnings in fiscal 2022, prompting Oxford to raise its guidance for third quarter sales to $295 million to $310 million and adjusted EPS to $1.10 to $1.30. Approximately two-thirds of the EPS increase is attributed to Johnny Was. The deal was primarily financed through cash, with about $100 million from a revolving credit facility, which Oxford plans to repay within a year.
Oxford Industries reported a solid second quarter for fiscal 2022, with net sales reaching $363 million, an 11% increase from last year’s $329 million. The company achieved a record GAAP EPS of $3.49 and adjusted EPS of $3.61, up from $3.05 and $3.24, respectively. Full-year sales guidance has been raised to a range of $1.300 billion to $1.325 billion. Notably, the company repurchased $30 million worth of stock in Q2 and declared a quarterly dividend of $0.55 per share.
Oxford Industries, Inc. (NYSE: OXM) plans to release its second quarter fiscal 2022 financial results on Thursday, September 1, 2022, after market close. Following the release, the company will host a conference call at 4:30 p.m. ET led by Chairman and CEO Thomas C. Chubb III and CFO K. Scott Grassmyer to discuss the results. A live webcast will be available on the company's website, with a replay accessible until September 15, 2022.
Oxford is a leader in the apparel industry, known for brands like Tommy Bahama and Lilly Pulitzer.
Oxford Industries, Inc. (NYSE: OXM) has appointed Carol B. Yancey to its Board of Directors as of August 3, 2022. Ms. Yancey brings over 30 years of experience, having recently retired as Executive Vice President and CFO of Genuine Parts Company. She is a Certified Public Accountant with significant expertise in corporate governance and financial oversight. The CEO, Thomas C. Chubb III, expressed enthusiasm for her strategic leadership and insights, indicating her addition as a valuable asset to the company.
Oxford Industries reported a 33% increase in first-quarter sales, reaching $353 million, compared to $266 million in the previous year. GAAP EPS rose to $3.45, surpassing guidance, while adjusted EPS was $3.50. Operating margins expanded significantly, achieving 21.5% on GAAP and 21.8% adjusted. Full-year EPS guidance has been raised to $9.55 - $9.95 GAAP and $9.60 - $10.00 adjusted. The company experienced notable gains across all brands, prominently Tommy Bahama, which saw a 46% sales increase.
Oxford Industries, Inc. (NYSE: OXM) will release its first quarter fiscal 2022 financial results on June 8, 2022, after market close. A conference call will follow at 4:30 p.m. ET, led by CEO Thomas C. Chubb III and CFO K. Scott Grassmyer to discuss the results. Investors can access a live webcast on the company’s website, with a replay available until June 22, 2022. Oxford is a leader in the apparel sector, owning brands like Tommy Bahama and Lilly Pulitzer, and has been publicly traded since 1964.
Oxford Industries, a prominent apparel firm, announced participation in the 22nd Annual Institutional Investor Conference, hosted by B. Riley Securities at the Beverly Hilton Hotel on May 25, 2022. The company, listed on the NYSE under the symbol OXM, is known for its lifestyle brands including Tommy Bahama, Lilly Pulitzer, Southern Tide, The Beaufort Bonnet Company, and Duck Head. The event represents an opportunity for investors to engage with the company and learn about its future strategies and market positioning.
Oxford Industries, Inc. (NYSE:OXM) has announced the promotion of Scott Grassmyer to Chief Operating Officer, in addition to his existing role as Chief Financial Officer. Grassmyer has been with the company since 2002 and has significantly contributed to its transformation into a leader in lifestyle brands. His extensive experience includes key roles in acquisitions and business integration. The promotion aims to enhance operational efficiencies across Oxford's portfolio, which includes brands like Tommy Bahama and Lilly Pulitzer.
Oxford Industries reported record earnings for fiscal 2021, driven by strong sales across its lifestyle brands. The company achieved consolidated net sales of $1.142 billion, a significant increase from $749 million in 2020. Earnings per share rose to $7.78 (GAAP) compared to a loss of $5.77 the previous year. The Board announced a 31% increase in the quarterly dividend to $0.55 per share. For fiscal 2022, sales are projected to reach between $1.245 billion and $1.285 billion, with EPS expected between $8.75 and $9.15. Strong liquidity was maintained with $210 million in cash and no outstanding debts.
FAQ
What is the current stock price of Oxford Industries (OXM)?
What is the market cap of Oxford Industries (OXM)?
What does Oxford Industries, Inc. specialize in?
How has Oxford Industries performed financially in recent quarters?
What are some of Oxford Industries' key brands?
What recent projects has Oxford Industries undertaken?
How does Oxford Industries distribute its products?
What is Oxford Industries' approach to shareholder value?
What is Oxford Industries' financial outlook for fiscal 2024?
What role do Tommy Bahama restaurants play in Oxford Industries' business model?
What impact did the wildfires on Maui have on Oxford Industries?
When did Oxford Industries become publicly traded?
