Oxford Industries Earnings: Here’s Why Investors Don’t Like These Results
Oxford Industries Inc. (NYSE:OXM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 6.52%.
Oxford Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 55.38% to $1.01 in the quarter versus EPS of $0.65 in the year-earlier quarter.
Revenue: Rose 13.56% to $235 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Oxford Industries Inc. reported adjusted EPS income of $1.01 per share. By that measure, the company beat the mean analyst estimate of $0.98. It missed the average revenue estimate of $243.48 million.
Quoting Management: 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. Our results demonstrate the strength of these brands and the power of our direct to consumer strategy. We believe there are many more opportunities ahead for us to drive sustained, profitable growth in these businesses.”
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