Home / Knowledge / News / Apparel/Garments / Lanier Clothes reports breakeven operating results
Lanier Clothes reports breakeven operating results
11
Jun '08
Oxford Industries Inc announced financial results for its fiscal 2008 first quarter ended May 3, 2008. Consolidated net sales were $272.9 million in the first quarter compared to $292.4 million in the same period of the prior year, which was the three months ended May 4, 2007.

Diluted net earnings per common share were $0.59 in the first quarter compared to $0.95 in the same period of the prior year and were in line with the Company's previously issued guidance range of $0.55 to $0.60.

J. Hicks Lanier, Chairman and Chief Executive Officer of Oxford Industries Inc, commented, "Our first quarter results were consistent with our expectations and, importantly, we were able to exert careful control over our inventory levels during the quarter.

In the quarter, we had strong cash flow from operating activities, inventories were down 17% from last year and we experienced a slight uptick in our overall gross margins. As a result, total debt was reduced by $33 million during the quarter."

Mr. Lanier continued, "Unfortunately, as our guidance revision reflects, the external environment has become increasingly challenging. We believe that it is prudent to assume that we will see continued deterioration in sales in our company-owned retail stores as well as in our wholesale business. We will continue to manage our business conservatively with regard to inventory and are reducing expenses across the organization."

Tommy Bahama reported net sales of $129.3 million for the first quarter compared to $131.8 million in the same period of the prior year. The slight sales decrease was driven by softness in both wholesale sales and company-owned retail stores.

Tommy Bahama's operating income for the first quarter was $19.5 million compared to $26.5 million in the same period of the prior year. While gross margins remained strong, the impact of lower sales and increased marketing expenses were the primary factors in the reduction in operating income.

Click here to view more:

Oxford Industries Inc


Must ReadView All

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Kerem Durdag
Biovation II LLC

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

Johan Berlin
InvestKonsult Sweden AB

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Rupa Sood and Sharan Apparao
Nayaab

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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 2017

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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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