Home / Knowledge / News / Apparel/Garments / Fourth quarter profit jumps sharply at Oxford Industries
Fourth quarter profit jumps sharply at Oxford Industries
30
Mar '11
Oxford Industries Inc announced financial results for its fourth quarter and 2010 fiscal year ended January 29, 2011. Consolidated net sales, which represent sales from continuing operations, were $157.7 million in the fourth quarter compared to $143.4 million in the fourth quarter of fiscal 2009, which ended January 30, 2010.

On an adjusted basis, earnings per diluted share from continuing operations were $0.32 compared to $0.04 in the same period last year. For fiscal 2010, consolidated net sales from continuing operations were $603.9 million compared to $585.3 million in fiscal 2009. On an adjusted basis, earnings per diluted share from continuing operations were $1.26 for the 2010 fiscal year compared to $0.48 in the prior year.

The adjusted EPS reflects LIFO accounting adjustments, purchase accounting charges, a reduction in an estimate for an environmental reserve liability and certain restructuring and other charges. For reference, tables reconciling U.S. GAAP to adjusted measures are included at the end of this release.

On a U.S. GAAP basis, earnings per diluted share from continuing operations were $0.10 in the fourth quarter compared to $0.07 in the same period of the prior year. Net earnings per diluted share in the fourth quarter, which includes discontinued operations and the $2.99 per share gain on the sale of the Oxford Apparel operations, were $3.22 compared to $0.24 in the same period of the prior year.

On a U.S. GAAP basis, the Company reported earnings per diluted share from continuing operations of $0.98 in fiscal 2010 compared to $0.09 in the prior year. Net earnings per diluted share were $4.75 in fiscal 2010 compared to $0.90 in the prior year.

J. Hicks Lanier, Chairman and CEO of Oxford Industries, Inc. commented, "We are very pleased with the improved operating results we achieved in fiscal 2010 and we are even more excited about our outlook for 2011. In the coming year, we expect to deliver strong results with increased revenue, expanding gross margins and improved operating margins, while making significant investments in our lifestyle brands."

Mr. Lanier continued, "During the first eight weeks of fiscal 2011, our direct to consumer results across all brands have been stellar. We believe the strategic moves we made last year have positioned us well for 2011 and beyond. The sale of Oxford Apparel and the addition of Lilly Pulitzer have not only left us with a collection of great aspirational lifestyle brands, but also the balance sheet and financial flexibility to support the sustained growth we expect from these businesses."

Click here for more details

Oxford Industries Inc


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Hardik Sanghvi

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

Eric Scholler
Groz-Beckert

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

Kerem Durdag
Biovation II LLC

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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