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Branded apparel marketer Oxford issues guidance for 2008
07 Feb '08
3 min read
The three month period ended May 4, 2007, which was not a reported quarter, had net sales of approximately $292 million and diluted earnings per common share of approximately $0.95.
The Company attributed the expected decline in first quarter net sales primarily to a planned sales decline in Oxford Apparel, a decline in Ben Sherman wholesale sales due to the exit of certain accounts as Ben Sherman elevates to a more aspirational channel of distribution in the U.K., and the discontinuation of its Evisu business in the U.S.
The expected first quarter decline in diluted earnings per common share was attributed primarily to higher expenses at Tommy Bahama due to increased marketing spend, costs associated with the opening of two additional retail-restaurant compounds and additional investment in the e-commerce website, as well as lower Ben Sherman and Oxford Apparel sales.
The Company's diluted earnings per share projections incorporate the anticipated results of the Company's ongoing accelerated share repurchase program.
The Company will hold a conference call with senior management to discuss guidance at 8:30 AM ET today. A live webcast of the conference call will be available on the Company's website.
Please visit the website at least 15 minutes before the call to register for the teleconference webcast and download any necessary software. A replay of the call will be available through February 20, 2008.
The Company attributed the expected decline in first quarter net sales primarily to a planned sales decline in Oxford Apparel, a decline in Ben Sherman wholesale sales due to the exit of certain accounts as Ben Sherman elevates to a more aspirational channel of distribution in the U.K., and the discontinuation of its Evisu business in the U.S.
The expected first quarter decline in diluted earnings per common share was attributed primarily to higher expenses at Tommy Bahama due to increased marketing spend, costs associated with the opening of two additional retail-restaurant compounds and additional investment in the e-commerce website, as well as lower Ben Sherman and Oxford Apparel sales.
The Company's diluted earnings per share projections incorporate the anticipated results of the Company's ongoing accelerated share repurchase program.
The Company will hold a conference call with senior management to discuss guidance at 8:30 AM ET today. A live webcast of the conference call will be available on the Company's website.
Please visit the website at least 15 minutes before the call to register for the teleconference webcast and download any necessary software. A replay of the call will be available through February 20, 2008.
Oxford Industries Inc
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