Home / Knowledge / News / Apparel/Garments / Oxford Industries consolidated net sales rise 13% in FY'13
Oxford Industries consolidated net sales rise 13% in FY'13
03
Apr '13
Oxford Industries, Inc. announced financial results for its fourth quarter and 2012 fiscal year ended February 2, 2013. For fiscal 2012, a 53-week fiscal year, consolidated net sales rose 13% to $855.5 million from $758.9 million in fiscal 2011, which was a 52-week fiscal year. On an adjusted basis, earnings per share rose to $2.61 for the 2012 fiscal year compared to $2.41 in the prior year.

In the fourteen-week fourth quarter of fiscal 2012, consolidated net sales rose 18% to $236.2 million compared to $199.7 million in the thirteen-week fourth quarter of fiscal 2011.  Adjusted earnings per share for the quarter were $0.65 compared to $0.61 in the same period last year.

For the full year, GAAP earnings per share increased to $1.89 from $1.77 in the prior year.  In the fourth quarter of fiscal 2012, GAAP earnings per share were $0.32 compared to $0.43 in the same period of the prior year. For reference, tables reconciling GAAP to adjusted measures are included at the end of this release.

"We are very pleased with the 2012 performance of our two largest brands, Tommy Bahama and Lilly Pulitzer," commented Thomas C. Chubb III, CEO and President. "We launched Tommy Bahama's international expansion in 2012 and we now operate nine stores in the Asia-Pacific region, including our newest in Yokohama, Japan. 

"We believe this is an excellent long-term investment and the runway it creates for us is substantial.  Tommy Bahama continues a store opening pace that will add approximately 12 stores on the domestic front and approximately four international stores in fiscal 2013.   Our e-commerce business also continues to grow rapidly and, in conjunction with our retail stores, we are well on our way to creating a seamless omni-channel experience for our consumers."

Mr. Chubb continued, "Lilly Pulitzer also had a year of extraordinary growth as our brand continues to reach more and more customers.  A measured pace of four to six new stores each year, a growing e-commerce business that now exceeds 20% of Lilly's sales and the potential for carefully executed product extensions demonstrate the significant growth potential for Lilly Pulitzer.

"Needless to say, Ben Sherman's operating results in fiscal 2012 were extremely disappointing.  Missteps in the execution of our strategy coupled with a difficult consumer market in the UK and Europe have put pressures on both our top line and gross margins.  We are taking specific actions to stabilize and improve this business, but the impact of these challenges is expected to continue into 2013, particularly in the first half.

Mr. Chubb concluded, "Notwithstanding the challenges with Ben Sherman, the overall picture for fiscal 2013 is bright.  Tommy Bahama and Lilly Pulitzer each clearly demonstrate a powerful ability to drive our consolidated revenues and profitability. We expect our continued investment in their direct to consumer initiatives, including people, systems and infrastructure, to deliver long-term, sustainable growth for our shareholders in the years to come."

Oxford Industries


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search