Oxford Opens Increased on Quarterly Numbers
Oxford Industries (NYSE:OXM) rose Thursday, after the maker of the Tommy Bahama and Lily Pulitzer attire manufacturers reported better-than-expected quarterly outcomes and issued an outlook that surpassed analyst predictions.
Consolidated internet gross sales within the third quarter of fiscal 2022 elevated 26% to $313 million in comparison with $248 million within the third quarter of fiscal 2021. Earnings per share (EPS) on a GAAP foundation had been $1.22 in comparison with $1.54 within the third quarter of fiscal 2021. On an adjusted foundation, EPS elevated to $1.46 in comparison with $1.19 within the third quarter of fiscal 2021.
CEO Tom Chubb commented, “We’re very happy to be reporting file gross sales, gross margin and adjusted earnings for the sixth consecutive quarter. Our distinctive third quarter outcomes had been pushed by the continued energy at our largest model, Tommy Bahama, the place we elevated our gross sales 20% year-over-year, mixed with robust high line progress throughout our complete portfolio of manufacturers. Importantly, our efficiency was highlighted by one other interval of sturdy full-price promoting as our merchandise choices proceed to resonate strongly with our core customers. We additionally superior our long-term technique with our acquisition of the Johnny
Was model and the announcement of the primary Tommy Bahama branded resort, the Tommy Bahama Miramonte Resort in Indian Wells, California, which is scheduled to open in late 2023.”
OXM shares jumped $1.69, or 1.6%, to $109.88.