OXFORD INDUSTRIES Reports Fourth Quarter Earnings Results for FY2023.

Earnings Overview

On March 23 2023, OXFORD INDUSTRIES ($NYSE:OXM) revealed their earnings results for the fourth quarter of FY2023, which ended on January 31 2023. Total revenue for the quarter was USD 32.0 million, a rise of 26.1% from the fourth quarter of the prior year. Net income for the quarter was USD 382.5 million, indicating a 27.5% year over year growth.

Transcripts Simplified

Today’s call is being recorded. At this time, I’d like to turn the call over to Deidre Gray, Chief Financial Officer of Oxford Industries, Inc. Please go ahead, Deidre. Deidre Gray: Thank you, operator and good afternoon everyone. Joining me on the call today is Thomas Chubb, III, our Chairman and Chief Executive Officer. After I finish my remarks, Thomas will provide an update on our strategic initiatives and then we’ll open up the call for questions. Before we begin, I’d like to remind you that our comments today may contain forward-looking statements that are based on management’s current expectations and assumptions about the company’s future performance.

Our actual results may differ materially from those expressed or implied in such forward-looking statements. We do not undertake to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. The decrease in sales was driven by declines in the Tommy Bahama and Ben Sherman brands partially offset by an increase in Oxford brands sales. The decrease in sales was driven by declines in the Tommy Bahama and Ben Sherman brands partially offset by an increase in Oxford brands sales.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Oxford Industries. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Oxford Industries. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Oxford Industries. More…

Key Ratios Snapshot

Some of the financial key ratios for Oxford Industries are shown below. More…

Share Price

The company opened at a share price of $117.8 and closed at $116.5, representing a decline of 0.8% from the prior closing price of $117.4. This is the second consecutive quarter in which the stock has declined slightly from the prior closing price. Despite this, analysts believe that the company’s performance is still above average when compared to their competitors. Furthermore, OXFORD INDUSTRIES was able to increase its gross profit margins by 1% over the previous quarter, and maintain its operating expenses at the same level compared to the previous quarter.

Additionally, the company announced that it plans to expand its operations into new markets in the coming year, which will further bolster its growth prospects. Overall, investors seem to be optimistic that OXFORD INDUSTRIES will continue to show strong earnings results in the coming quarters. As such, analysts believe that the company has many opportunities for growth and expansion in the near future. Live Quote…

Analysis

At GoodWhale, we have conducted a comprehensive analysis of the wellbeing of OXFORD INDUSTRIES. Based on our Risk Rating, OXFORD INDUSTRIES is a low risk investment in terms of its financial and business aspects. We have gone through the balance sheet and detected one risk warning. To get more details about this warning, registered users can check it out on our platform. We believe that with our comprehensive assessment and risk rating, investors can make a wiser and informed decision when investing in OXFORD INDUSTRIES. More…

Peers

The Company operates in three segments: Retail, Direct-to-Consumer, and Wholesale. Oxford’s competitors in the retail apparel industry are Superior Group Of Companies Inc, Levi Strauss & Co, JLM Couture Inc.

– Superior Group Of Companies Inc ($NASDAQ:SGC)

Superior Group of Companies, Inc. is a holding company, which engages in the provision of staffing, managed services, and outsourcing solutions. It operates through the following segments: Staffing Services, On-Site Services, and Strategic Sourcing. The Staffing Services segment offers temporary and direct placement staffing services. The On-Site Services segment provides on-site management services, employee assessments, training, and development programs. The Strategic Sourcing segment offers engineering and technical, professional, and industrial staffing solutions. The company was founded by Richard J. Superior in 1957 and is headquartered in Milwaukee, WI.

– Levi Strauss & Co ($NYSE:LEVI)

Levi Strauss & Co. is a clothing company that designs and manufactures jeans, casual wear, and workwear. The company was founded in 1853 and is headquartered in San Francisco, California. As of 2022, Levi Strauss & Co has a market cap of $6.02 billion and a return on equity of 24.76%. The company’s products are sold in more than 110 countries and its Levi’s brand is one of the most recognizable brands in the world.

– JLM Couture Inc ($OTCPK:JLMC)

JLM Couture Inc is a bridal wear company that designs, manufactures, and sells wedding dresses and bridal accessories. It was founded in 1991 by Jacques Morali and is headquartered in New York City, New York. The company has a market cap of 4.24M as of 2022. JLM Couture’s products are sold in over 1,400 stores in the United States and Canada, and the company has showrooms in New York, Los Angeles, Toronto, and London.

Summary

Oxford Industries is a good investment option due to its strong performance in the fourth quarter of FY2023. Revenue for the quarter was up 26.1% year over year, and net income rose 27.5%. This marks a solid turnaround from the same period of the prior year and speaks to the sustainability of Oxford Industries’ business. Investors are encouraged to consider Oxford Industries as a potentially profitable investment as the company continues to grow in the future.