Home / Knowledge / News / Apparel/Garments / Oxford Industries FY'13 net sales grow 7%
Oxford Industries FY'13 net sales grow 7%
28
Mar '14
Oxford Industries, Inc. announced financial results for its fourth quarter and 2013 fiscal year ended February 1, 2014. 
 
For fiscal 2013, a 52-week year, consolidated net sales rose 7% to $917.1 million from $855.5 million in fiscal 2012, a 53-week year. Adjusted earnings per share rose 8% to $2.81 for the 2013 fiscal year compared to $2.61 in the prior year. For the full year, GAAP earnings per share increased to $2.75 from $1.89 in the prior year.
 
In the fourth quarter of fiscal 2013, consolidated net sales rose 6% to $250.4 million compared to $236.2 million in the fourteen-week fourth quarter of fiscal 2012. Adjusted earnings per share for the quarter rose 37% to $0.89 compared to $0.65 in the same period last year. Fourth quarter GAAP earnings per share were $0.91 compared to $0.32 in the same period of the prior year. For reference, tables reconciling GAAP to adjusted measures are included at the end of this release.
 
Thomas C. Chubb III, CEO and President commented, "Fiscal 2013 was a very good year for Oxford. Against a backdrop that included a sluggish economy and a still cautious consumer, we were able to achieve net sales growth of 7%, adjusted operating income growth of 8% and adjusted EPS growth of 8%. This year over year growth was driven primarily by solid performances at Tommy Bahama and Lilly Pulitzer, including strong comparable store sales results fueled by our e-commerce businesses. 
 
“Lanier Clothes also achieved slight growth in net sales and continued to deliver to the bottom line. Ben Sherman took a step backwards in both sales and operating income during fiscal 2013, although there were signs of improvement in the second half of the year." 
 
Mr. Chubb continued, "Looking forward to fiscal 2014, we are excited by the remarkable strength we are seeing at Lilly Pulitzer.  This business is off to a fantastic start with an exceptional product offering and outstanding communication with our consumers.   As we mentioned in our February 13th press release, Tommy Bahama had an unexpected, weather-related slowdown in traffic beginning in January which has continued into March.  Our plans for the first quarter take into account the softness we are seeing, but we remain confident that we have the right product and marketing strategy to take advantage of more normalized traffic patterns."
 
Click here to view full details.
 

Oxford Industries


Must ReadView All

Textiles | On 29th Jun 2017

Nan Ya files trade petition in US against Korea & Taiwan

Nan Ya Plastics Corporation, America, a US synthetic fibre producer,...

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Apparel/Garments | On 29th Jun 2017

Amazon intends to keep investing and growing in India

American online retail giant Amazon intends to keep investing and...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X