- Oxford Industries Inc (NYSE:OXM) reported first-quarter FY22 sales growth of 33% year-on-year to $352.6 million, beating the consensus of $329.02 million.
- Net sales from Tommy Bahama increased 46% Y/Y, Lilly Pulitzer rose 25%, and Emerging Brands gained 42%.
- Full price e-commerce sales grew 20% compared to Q1 FY21. Restaurant sales climbed 23%, and Wholesale sales rose 42%.
- Gross margin on an adjusted basis increased 50 basis points to 64.5%.
- The operating margin was 21.5% versus 13.1% a year ago, and operating income for the quarter jumped 117% to $76 million.
- The company held $166 million in cash and equivalents as of April 30, 2022.
- Inventories at the end of the quarter rose 12.8% Y/Y to $122.7 million.
- Adjusted EPS of $3.50 beat the analyst consensus of $2.75.
- The company's cash dividend of $0.55 per share is payable on July 29, 2022, to shareholders of record on July 15, 2022.
- Outlook: Oxford raised the FY22 sales outlook to $1.285 billion - $1.325 billion (prior view $1.245 billion - $1.285 billion), above the consensus of $1.240 billion.
- The company raised the FY22 adjusted EPS forecast to $9.60 - $10.00 (prior view $8.75 - $9.15), above the consensus of $8.86.
- For Q2, the company expects net sales of $350 million - $370 million, above the consensus of $346.97 million.
- Q2 adjusted EPS of $3.30 - $3.50 versus the consensus of $3.29.
- Price Action: OXM shares closed lower by 0.36% at $91.88 on Wednesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Tommy Bahama & Lilly Pulitzer Owner Posts Solid Q1 Earnings; Lifts FY22 Outlook
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks