OXFORD INDUSTRIES Reports Successful First Quarter of Fiscal Year 2024
June 16, 2023
☀️Earnings Overview
On June 7, 2023, OXFORD INDUSTRIES ($NYSE:OXM) announced its earnings results for the first quarter of fiscal year 2024, ending April 30, 2023. Total revenue registered at USD 420.1 million, which represented a 19.2% increase from the same period in the prior year. Net income reported was USD 58.5 million, a 2.0% rise from the previous year.
Stock Price
The company’s stock opened at $104.9 and closed at $107.2, up by 3.7% from its previous closing price of 103.4. This marks a significant success for the company and signals a positive outlook for the rest of the year. OXFORD INDUSTRIES also reported strong growth in revenue and profits during the first quarter. This indicates that the company is continuing to perform well despite the current tough economic climate. The company’s success in the first quarter is largely attributed to strong sales growth in the retail sector.
The company is also expanding in international markets, which has also contributed to its positive performance in the first quarter. Investors have responded positively to the news, as evidenced by the rise in stock prices, and the company is looking forward to the rest of the year with optimism. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Oxford Industries. More…
| Total Revenues | Net Income | Net Margin |
| 1.48k | 166.87 | 11.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Oxford Industries. More…
| Operations | Investing | Financing |
| 155.69 | -188 | 9.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Oxford Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.19k | 586.8 | 38.49 |
Key Ratios Snapshot
Some of the financial key ratios for Oxford Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.9% | 79.0% | 15.1% |
| FCF Margin | ROE | ROA |
| 6.9% | 24.0% | 11.7% |
Analysis
At GoodWhale, we recently conducted an in-depth analysis of the fundamentals of OXFORD INDUSTRIES. Based on our Risk Rating, we have determined that it presents a medium level of risk for investors in terms of both financial and business aspects. During our research, we also identified two warning signs in the OXFORD INDUSTRIES income sheet and balance sheet. If you are interested in more detailed information about these risks and how they might affect your investment decision, please consider signing up for a GoodWhale account. As a registered user, you will be able to access our comprehensive risk analysis toolkit, which includes a full report on the company’s financial position as well as our expert advice. 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 reported strong first quarter fiscal year 2024 results on June 7, 2023, with total revenue increasing to USD 420.1 million, a 19.2% year-over-year increase, and net income increasing to USD 58.5 million, a 2.0% year-over-year increase. This news was met with a positive response on the stock market, causing the stock price to move up the same day. As such, investing in OXFORD INDUSTRIES appears to be a lucrative option for investors looking for short-term gains. Investors should keep an eye on the company’s future performance to make sure that the favourable momentum continues.
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