Oxford Industries is a leading apparel company that designs, markets, and distributes a diverse range of clothing and accessories
The company is known for its strong portfolio of lifestyle brands that cater to various consumer segments, including both casual and formal wear. With a focus on quality craftsmanship and innovative design, Oxford Industries creates products that appeal to a broad audience, while also emphasizing sustainability and ethical production practices. The company operates through a combination of retail stores, online platforms, and wholesale distribution channels, allowing it to effectively reach consumers and enhance brand visibility in a competitive marketplace.
Fashion conglomerate Oxford Industries (NYSE:OXM) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, but sales fell by 3.4% year on year to $390.5 million. On the other hand, next quarter’s revenue guidance of $385 million was less impressive, coming in 4.9% below analysts’ estimates. Its non-GAAP profit of $1.37 per share was 8.1% above analysts’ consensus estimates.
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As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at apparel and accessories stocks, starting with Levi's (NYSE:LEVI).
Over the past six months, Oxford Industries’s shares (currently trading at $79.78) have posted a disappointing 19.9% loss, well below the S&P 500’s 9.9% gain. This was partly driven by its softer quarterly results and may have investors wondering how to approach the situation.
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Wrapping up Q3 earnings, we look at the numbers and key takeaways for the apparel and accessories stocks, including Oxford Industries (NYSE:OXM) and its peers.
Shares of fashion conglomerate Oxford Industries (NYSE:OXM)
fell 10.3% in the morning session after the company reported weak third-quarter financial results, with revenue and EPS falling below analysts' expectations. Management blamed the weakness on several issues: surging inflation, distractions caused by U.S. elections and global events that weakened transaction volumes, and two major hurricanes in the U.S., which reduced sales by an estimated $4 million and lowered EPS by $0.14. While management acknowledged that some challenges have eased, some of the improvements might take time to show up in the numbers. Therefore, it was no surprise management gave a weak forecast; its full-year guidance for both revenue and EPS fell short of Wall Street's estimates, underscoring a disappointing quarter.
Fashion conglomerate Oxford Industries (NYSE:OXM) missed Wall Street’s revenue expectations in Q3 CY2024, with sales falling 5.7% year on year to $308 million. Next quarter’s revenue guidance of $385 million underwhelmed, coming in 1.1% below analysts’ estimates. Its non-GAAP loss of $0.11 per share was significantly below analysts’ consensus estimates.
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