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

L-R: Smriti Irani, Vanathi Srinivasan and M Senthilkumar

Textiles | On 30th Sep 2016

Textile industry appeals for cotton fibre security

A pan-India textile industry delegation has urged Union textiles...

Courtesy: Kelheim Fibre

Textiles | On 30th Sep 2016

Kelheim Fibres develops static dissipative viscose fibre

Germany based specialty fibre producer Kelheim Fibres has developed a ...

Apparel/Garments | On 30th Sep 2016

Cambodian workers to get $153 minimum wage from Jan

Garment workers in Cambodia would get a minimum wage of $153 per...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Victor Chao
Esmetex

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search