Home / Knowledge / News / Apparel/Garments / Oxford Industries lowers Q4 FY'14 EPS guidance
Oxford Industries lowers Q4 FY'14 EPS guidance
14
Feb '14
Oxford Industries, Inc. provided updated net sales and earnings per share guidance for the fourth quarter and fiscal year 2013, which ended February 1, 2014, and also provided its initial net sales and earnings per share outlook for fiscal year 2014, ending January 31, 2015.

The Company now expects adjusted earnings per share for the fourth quarter of fiscal 2013 to be in a range of $0.83 - $0.88 on net sales of approximately $250 million. This compares to its previously issued guidance of adjusted earnings per share of $0.98 - $1.13 on net sales of $255 - $265 million and to the prior year's fourth quarter adjusted earnings per share of $0.65 on net sales of $236.2 million.

For fiscal year 2013, the Company now expects adjusted earnings per share to be in a range of $2.75 - $2.80 on net sales of approximately $917 million. This compares to its previously issued guidance of adjusted earnings per share of $2.90 - $3.05 on net sales of $922 - $932 million and to the prior year's adjusted earnings per share of $2.61 on net sales of $855.5 million.

On a GAAP basis, earnings per share for the fourth quarter of fiscal 2013 are now expected to be in a range of $0.84 - $0.89 compared to its previously issued guidance of $1.01 - $1.16 and earnings per share of $0.32 in the fourth quarter of fiscal 2012. On a GAAP basis, earnings per share for fiscal 2013 are now expected to be in a range of $2.68 - $2.73 compared to its previously issued guidance of $2.85 - $3.00 and earnings per share of $1.89 in fiscal 2012. For reference, tables reconciling GAAP to adjusted measures are included at the end of the release.

For fiscal 2014, the Company currently expects full year net sales to grow between 7% and 9%. The Company believes it will continue to see improved profitability and, on that rate of revenue growth, expects adjusted earnings per share to increase between 9% and 14%. The Company expects to provide a more detailed update on its fourth quarter earnings conference call.

Thomas C. Chubb III, Oxford's Chief Executive Officer and President, commented, "While we were able to generate strong top and bottom line year over year growth during the fourth quarter, results ultimately fell short of our expectations. That said, our lifestyle brands performed well during the quarter, with comparable store sales increases in the mid-single digits for Tommy Bahama and over 20% for Lilly Pulitzer.

These results reflect a very solid Holiday selling season, which was moderated by a difficult January. Tommy Bahama experienced a significant decrease in comparable store sales in the month of January driven by markedly lower traffic, which has continued into early February.  Additionally, Ben Sherman's January results were weaker than expected."

Mr. Chubb concluded, "Although we are disappointed to end fiscal 2013 on this note, it was a year of good sales and earnings growth for Oxford. We look forward to continuing this growth during fiscal 2014. As we head into the spring season, which is traditionally our strongest season, we are very happy with the way our stores and the spring merchandise look and are optimistic that, with better weather, consumer traffic will improve." 

Oxford Industries

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search