Home / Knowledge / News / Apparel/Garments / Q2 FY'13 sales surge 14% at Oxford Industries
Q2 FY'13 sales surge 14% at Oxford Industries
11
Sep '13
Oxford Industries, Inc. announced financial results for its fiscal 2013 second quarter, which ended August 3, 2013.
 
For the quarter, consolidated net sales increased 14% to $235.0 million compared to $206.9 million in the second quarter of fiscal 2012, which ended July 28, 2012. On an adjusted basis, earnings per share rose 55% to $1.01 compared to $0.65 in the second quarter of fiscal 2012.
 
On a GAAP basis, earnings per share were $0.96 in the second quarter of fiscal 2013 compared to $0.30 in the same period of the prior year.  Adjusted earnings per share for the second quarter of fiscal 2012 exclude $9.1 million of charges related to the redemption of the Company's senior notes.  
 
Adjusted earnings per share for the second quarter of fiscal 2013 exclude $0.6 million of charges resulting from the acquisition of the Tommy Bahama licensed business in Canada. Adjusted earnings per share for both periods exclude charges related to a change in the fair value of contingent consideration and the impact of LIFO accounting. For reference, tables reconciling GAAP to adjusted measures are included at the end of this release. 
 
Thomas C. Chubb III, CEO and President, commented, "We are quite pleased with our first half performance, which included strong top and bottom line growth at both Tommy Bahama and Lilly Pulitzer. We were particularly pleased with how our direct to consumer channels performed with comparable store sales increases of 13% at Tommy Bahama and 19% at Lilly Pulitzer in the second quarter."
 
Mr. Chubb concluded, "Following a strong first half, we believe we have an excellent game plan for the all-important holiday and resort selling seasons and are expecting a good second half as well. Our direct to consumer business continues to perform well, but we have seen some erosion in our wholesale business.
 
"Our second half order books came in slightly below our expectation and we've seen some choppiness in our in-season re-order business. We have factored this into our forecast for the balance of the year and have made a modest downward revision to our guidance. Even with this revision, we believe fiscal 2013 will deliver strong top and bottom line results for our shareholders."
 

Oxford Industries


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Jun 2021

Half of all cotton-growing regions face severe climate risks by 2040

Climate change could expose half of cotton-growing regions globally...

Pic: Shutterstock

E-commerce | On 25th Jun 2021

UK shoppers struggle to be understood by chatbots: survey

Though chatbots are mainly used for customer service, more than half...

Pic: Shutterstock

Textiles | On 24th Jun 2021

Canada, Indonesia discuss Comprehensive Economic Partnership Agreement

Canada and Indonesia recently began negotiations over a Comprehensive ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under our own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Chini Chouhan,

Chini Chouhan

Founded by Chini Chouhan, her eponymous brand specialises in women's...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Zayed Moyeen,

Zayed Moyeen

Far East Knitting and Dyeing Industries LTD (FEKDIL) was established in...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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

Leave your Comments


June 2021

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


Advanced Search