Home / Knowledge / News / Apparel/Garments / Oxford Chief pleased with outstanding performance of D2C biz
Oxford Chief pleased with outstanding performance of D2C biz
08
Jun '11
Oxford Industries Inc announced financial results for its fiscal 2011 first quarter ended April 30, 2011. Consolidated net sales were $208.3 million compared to $163.6 million in the first quarter of fiscal 2010.

On an adjusted basis, earnings from continuing operations per diluted share were $1.07 compared to $0.54 in the first quarter of fiscal 2010. Because Oxford acquired Lilly Pulitzer on December 21, 2010, operating activities for Lilly Pulitzer were not included in the Company's consolidated first quarter fiscal 2010 results.

The adjusted earnings per share exclude the impact of purchase accounting charges and LIFO accounting adjustments. 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 from continuing operations per diluted share were $1.03 in the first quarter of fiscal 2011 compared to $0.52 in the same period of the prior year.

"We are very happy with our results for the quarter, which were exceptionally strong at Tommy Bahama, Lilly Pulitzer and Lanier Clothes. We are particularly pleased with the outstanding performance of our direct to consumer businesses as both comp store and e-commerce sales remained strong throughout the first quarter. The Tommy Bahama team continues to do a superb job of expanding its full price, direct to consumer business," commented J. Hicks Lanier, Chairman and Chief Executive Officer of Oxford Industries, Inc.

"With Lilly Pulitzer's resort chic positioning, the first quarter is the biggest and most important for the brand and the results exceeded our expectations in all channels of distribution. The Spring/Summer product is clearly resonating with an expanding base of consumers to yield outstanding profitability. The integration of Lilly Pulitzer onto our corporate support platform is going very well and we continue to be impressed with the quality and talent of the people."

Mr. Lanier continued, “We finished the first quarter with a great deal of momentum, but are certainly cognizant of the macro-economic deterioration in recent weeks and have factored that into our outlook for the balance of the year. We believe that our focus on strengthening our brands by further developing the direct to consumer businesses and being selective in wholesale distribution will serve our shareholders well.”

Operating Results

Tommy Bahama reported net sales of $122.9 million for the first quarter of fiscal 2011 compared to $109.1 million in the first quarter of fiscal 2010. The increase in sales was primarily due to strong comparable store sales increases, higher e-commerce sales and sales from additional stores.

Tommy Bahama's operating income for the first quarter was $23.8 million compared to $17.9 million in the first quarter of 2010. The increase in operating income resulted from increased sales and improved gross margins due to direct to consumersales representing a greater proportion of Tommy Bahama sales. As of April 30, 2011, Tommy Bahama operated 89 retail stores compared to 84 stores at the end of the first quarter of fiscal 2010.


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Giorgio Mantovani
Corman S.p.A

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sanjukta Dutta
Sanjukta's Studio

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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