For the first quarter (Q1) of FY25, the company expects net sales to be between $375 million and $395 million. GAAP EPS for the quarter is expected to be in a range of $1.61 to $1.81, and adjusted EPS is expected to be between $1.70 and $1.90.
The company anticipates interest expense of $7 million in FY25, or a $0.20 to $0.25 per share increase, including $2 million in Q1 FY25. It expects higher average debt levels in FY25 due to capital expenditures primarily associated with completing the new Lyons, Georgia distribution centre, opening new stores and the share repurchases executed during Q1 FY25, Oxford said in a press release.
Oxford Industries has forecast fiscal 2025 net sales between $1.49 billion and $1.53 billion, with GAAP EPS of $4.21–$4.61.
Q1 sales are projected at $375–$395 million.
The company anticipates pressure from tariffs and higher interest costs.
FY24 net sales declined 3 per cent to $1.52 billion, with adjusted EPS at $6.68.
Q4 FY24 net sales stood at $391 million, with adjusted EPS of $1.37.
FY25 guidance also includes a $9 million to $10 million, or approximately $0.45 to $0.50 per share negative impact from recently enacted, additional tariffs that are currently in effect.
The capital expenditures (capex) in FY25 are expected to be approximately $125 million. The decrease is due to reductions in expenditures related to the completion of the new distribution centre in Lyons, Georgia along with fewer new store openings.
The company said that it will continue with its investments in various technology systems initiatives, data management and analytics, customer data and insights, cybersecurity, automation (including artificial intelligence) and infrastructure.
“We believe the challenging trends experienced in January that accelerated into February are likely an indicator of what we can expect in the first half of fiscal 2025. We also believe the strong occasion driven performance experienced during the holiday season in the fourth quarter of fiscal 2024 will continue for key events in fiscal 2025 including Easter, Mother’s Day, Father’s Day and the summer holidays,” said Tom Chubb, chairman and chief executive officer (CEO) at Oxford Industries.
“In the times between these major selling periods, we expect the consumer to be more hesitant to shop given the current uncertainty in the marketplace. In response to this backdrop, each of our brands has developed plans with a sharp focus on building on the core of what makes it great. We are confident that our business model will guide us through this period of uncertainty and drive profitable growth and long-term shareholder value well into the future,” added Chubb.
Oxford Industries reported a 3 per cent year-over-year (YoY) decline in consolidated net sales for full fiscal 2024 (FY24) ended February 1, 2025, amounting to $1.52 billion. EPS of the company stood at $5.87 and on an adjusted basis, EPS stood at $6.68.
Brand-wise, Tommy Bahama segment saw a 3 per cent drop to $869.6 million, while Lilly Pulitzer declined by 6 per cent to $323.9 million. Johnny Was recorded a 4 per cent decrease, reaching $195 million. On the other hand, the Emerging Brands segment grew modestly by 1 per cent to $128.4 million.
In FY24, the company’s full-price direct-to-consumer (DTC) sales decreased 3 per cent YoY to $1.0 billion, full-price retail sales decreased 2 per cent to $524 million, and e-commerce sales also decreased 4 per cent to $519 million.
The company’s outlet sales increased 3 per cent to $75 million, and wholesale sales decreased 10 per cent to $281 million. Full fiscal operating income was $119 million and on an adjusted basis, operating income stood at $136 million.
The consolidated net sales in the fourth quarter (Q4) of FY24 was of $391 million. Diluted EPS on a GAAP basis was $1.13 and on an adjusted basis, EPS was $1.37.
In Q4 FY24, DTC sales were down 1 per cent to $282 million. Full-price retail sales and e-commerce sales each declined 1 per cent, to $136 million and $145 million, respectively. Outlet sales remained flat, while wholesale sales dropped sharply by 13 per cent to $61 million. On a GAAP basis, operating income for Q4 stood at $20 million, reversing a prior-year operating loss of $81 million. Adjusted operating income came in at $25 million.
“We are pleased to report fourth quarter net sales and adjusted earnings per share that were near the top end of our guidance ranges. Our results were driven by a successful holiday season as our consumer showed up to buy their loved ones and friends the gifts that they really wanted from the brands that they love. Following a strong finish to calendar year 2024, trends moderated in January as there was less of a reason to shop, a pattern we’ve witnessed for the past several quarters, as well as a deterioration in consumer sentiment that also weighed on demand,” said Chubb.
Fibre2Fashion News Desk (SG)
