What is the revenue and EPS growth rate for Oxford Industries year over year?

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What were the key takeaways from Oxford Industries’s earnings call?

What does Oxford Industries do and what are its main business segments?

What factors drove the changes in Oxford Industries's revenue and profit?

- **Mixed Brand Performance**: Emerging brands (+17%) offset declines at Tommy Bahama (-low single-digit) and Johnny Was (-high single-digit). 
- **Tariff Headwinds**: $25-30M annual tariff impact, limiting holiday sweater assortment (-30%).
- **Revised Guidance**: FY25 adj. EPS $2.20-2.40 vs. $6.68 prior year; Q4 comps -mid-single-digit.
- **Strategic Moves**: 
  - Johnny Was restructuring with new leadership.
  - 4-8% price increases for spring 2026 to offset tariffs.
  - Shifting focus to direct-to-consumer growth.
- **Key Risk**: Promotional intensity and consumer caution weighing on margins.

**【CEO Opening Remarks】**
- **Q3 Performance**: Total revenue was $307 million, slightly below prior year's $308 million. Direct-to-consumer channels grew 2% (e-commerce +5%, restaurants +3%), offset by 11% decline in wholesale sales. 
- **Brand Highlights**: 
  - **Lilly Pulitzer**: Strong double-digit retail growth driven by successful product innovation and brand loyalty.
  - **Emerging Brands**: Southern Tide, Beaufort Bonnet, Duck Head delivered 17% growth, outpacing legacy brands.
  - **Tommy Bahama**: Sequential improvement in comps (low single-digit down vs. high single-digit earlier), with Boracay pants outperforming at $158 price point.
  - **Johnny Was**: Negative comps due to assortment gaps, but leadership changes (Lisa Caser promoted to President) and restructuring underway.
- **Tariff Impact**: $8 million COGS increase from tariffs, limiting holiday assortment completeness (e.g., sweaters down 30%).
- **Initiatives**: New restaurant openings, Key West fashion show, and Lyon, GA fulfillment center nearing completion.

**【CFO Financial Commentary】**
- **Q3 Results**: 
  - Adjusted EBIT loss of $18 million (-5.8% margin) vs. $3 million loss last year.
  - Gross margin contracted 200bps to 61% due to tariffs and promotional activity.
  - SG&A rose 4% to $209 million due to new store openings and pre-opening costs.
- **Revised FY25 Guidance**: 
  - Net sales: $1.47-1.49B (-2-3% vs. $1.52B prior year)
  - Adj. EPS: $2.20-2.40 vs. $6.68 prior year
  - Tariff impact: $25-30M ($1.25-1.50 EPS)
  - Q4 comps: Mid-single-digit negative vs. prior flat guidance
- **Liquidity**: $140M debt (up from $31M prior year) due to distribution center and share buybacks.

**【Q&A Highlights】**
1. **Tariff & Sourcing Strategy**: 
   - Sweater assortment reduced 30% due to 145% tariff threat; spring 2026 assortment normalized.
   - Diversifying suppliers but limited alternatives for certain categories.
2. **Johnny Was Turnaround**: 
   - New leadership (Lisa Caser) implementing merchandising efficiency plan.
   - Focus on creative direction, marketing ROI, and retail execution.
3. **Wholesale Channel**: 
   - Off-price sales down due to inventory management; specialty retailers cautious.
   - FY26 strategy: Shift to full-price channels and direct-to-consumer.
4. **Price Increases**: 
   - Spring 2026: 4-8% price hikes to offset tariffs; full tariff impact mitigated by Q4 2026.
5. **Holiday Outlook**: 
   - Slow start due to promotional intensity; 27-day selling period may limit recovery.
   - Emerging brands (+17% Q3) outperforming legacy brands.


Oxford Industries, Inc. (OXM) Q3 2026 Earnings Call Transcript

- **Q2 2025 Results**: Adjusted EPS of $1.26, net sales $403M, and 61.7% gross margin despite 160bps YoY contraction. Tariffs added $9M to COGS.
- **Brand Performance**: Lilly Pulitzer DTC comp positive, Tommy Bahama Q3 comp improving, Johnny Was implementing turnaround plan.
- **Tariff Impact**: $25M-$35M net impact (vs. $80M pre-mitigation), contributing to 200bps gross margin decline.
- **Outlook**: 2025 EPS $2.80-$3.20, Q3 loss $1.05-$0.85, and 15 net new stores by year-end.
- **Strategic Moves**: Selective price increases (+14.5% on Boracay chino), capex shift to high-margin formats, and Vintage Vault success (+Lilly loyalty engagement).

**【CEO Summary Section】**
- **Lilly Pulitzer**: Q2 total comparable sales growth driven by casual products (e.g., Linen Seaspray jacket) and the launch of the Vintage Vault capsule, which exceeded expectations. Focus on heritage storytelling and brand authenticity.
- **Tommy Bahama**: Q2 underperformance due to color assortment gaps, but success with the Boracay Island chino ($158 price point, high sell-through) and late summer assortment adjustments. Q3 comp sales improving, with positive momentum in the West.
- **Johnny Was**: Challenged by headwinds, but implementing a comprehensive plan to enhance merchandising, brand storytelling, and customer segmentation. Long-term confidence in the brand's potential.
- **Emerging Brands Group**: Solid growth in Southern Tide, Beaufort Bonnet, Duck Head, and Jack Rogers, with positive comp store sales and new store openings. Encouraged by consumer appeal and brand momentum.
- **Tariff Mitigation**: Progress in shifting supply chains and accelerating inventory receipts to avoid tariffs. Gross margins under pressure but disciplined in inventory management and pricing integrity.
- **Capital Projects**: On track for 3 new Marlin Bar openings and ~15 full-price store net additions by year-end. Lyons, GA distribution center nearing completion.

**【CFO Financial Commentary】 **Q2 2025 Results 
**
-**:  - Net sales: $403M (down 4% YoY), within guidance range of $395M-$415M.
  - Adjusted EPS: $1.26 (vs. $6.68 YoY), slightly above guidance.
  - Gross margin: 61.7% (down 160bps YoY), impacted by $9M incremental tariffs.
  - SG&A: $224M (up 5% YoY), driven by new store openings and pre-opening expenses.
- **Tariff Impact**: 
  - Estimated $80M incremental tariff exposure pre-mitigation; $25M-$35M net impact after mitigation efforts (price increases, vendor concessions).
  - ~$1.25-$1.75 per share after tax, contributing to 200bps gross margin contraction.
- **Outlook 2025**: 
  - Net sales: $1.475B-$1.515B (3% YoY decline).
  - Gross margin: ~200bps contraction due to tariffs and promotions.
  - EPS: $2.80-$3.20 (vs. $6.68 YoY), reflecting tariff, tax, and interest impacts.
  - Q3 2025: Sales $295M-$310M (7% YoY decline), adjusted loss per share $1.05-$0.85.
- **Liquidity**: 
  - Cash flow from operations: $80M (H1 2025 vs. $122M H1 2024).
  - Long-term debt: $81M (up from $31M YoY) due to capex and share buybacks.

**【Q&A Highlights】**
- **Sales Trends**: Q3-to-date comp sales +low single-digit, driven by traffic recovery and improved assortment. Lilly Pulitzer positive, Tommy Bahama flattish but improved vs. Q2.
- **Promotional Strategy**: Maintaining price integrity while balancing inventory needs. Selective price increases (low-mid single-digit) for spring 2026, with ~14.5% increase on Boracay Island chino.
- **Tariff Mitigation**: Accelerated receipts and supply chain shifts reduced exposure. ~$25M-$35M net impact vs. $80M pre-mitigation.
- **Inventory Management**: Expecting inventory levels to decrease post-Q3 as tariff acceleration subsides.
- **Store Growth**: 2026 capex ~$75M (vs. $121M 2025), with ~15 net new stores (slower pace than 2024's 30 openings). Focus on high-margin formats like Marlin Bars.
- **Johnny Was**: Comprehensive turnaround plan includes merchandising, marketing, and customer segmentation improvements.


Oxford Industries, Inc. (OXM) Q2 2025 Earnings Call Transcript

- **Lilly Pulitzer outperforms**: Double-digit sales growth with 50%+ newness, driven by core customer focus and differentiated products.
- **Tariff impact materializing**: Q1 $1M tariffs, FY2025 $40M costs ($2/share dilution). 2026 Spring collections to fully offset costs via price increases.
- **Brand divergences**: Lilly and Emerging Brands up, Tommy Bahama and Johnny Was down. Johnny Was turnaround efforts to yield results in 2026+.
- **Consumer caution persists**: 5% negative comps in Q1, with similar trend in Q2. FY2025 sales expected to decline 3% YoY.
- **Supply chain transformation**: China sourcing to drop from 40% (2024) to <10% (2026), despite short-term costs.

**【CEO Opening Remarks】**
- Q1 FY2025 revenue was $393M, within guidance range, despite a 5% negative comp driven by cautious consumer sentiment.
- **Lilly Pulitzer success**: Double-digit sales growth, positive comps in e-commerce and retail, 50%+ newness quotient, and high sell-through on differentiated products like sportswear and collaborations.
- **Tariff response**: On track to reduce China sourcing from 40% in 2024 to <10% by 2026. Spring 2026 Tommy Bahama AUR +<3%, fully offsetting tariff costs while maintaining gross margin stability.
- **Long-term focus**: Delighting core customers with 'happy brands' (70%+ of sales from top 20% customers) and expanding immersive experiences like Marlin Bars.

**【CFO Financial Highlights】**
- **Top-line**: Q1 sales $393M (-1.3% YoY), with Lilly (+low double digits) offsetting Tommy Bahama and Johnny Was declines. E-commerce (-5%), brick-and-mortar (-1%), and food/beverage (-3%) all under pressure.
- **Gross margin**: 64.3% (-110bps YoY), driven by $1M tariffs, higher freight, and markdowns. Full-year gross margin expected to contract 200bps due to $40M tariff costs.
- **Operating expenses**: SG&A +5% to $221M, driven by 31 new store openings and tariffs. Operating margin 9.8% (-460bps YoY).
- **Earnings**: Adjusted EPS $1.82 vs. $6.68 YoY. FY2025 EPS guidance $2.80-$3.20, reflecting $2/share tariff impact.
- **Balance sheet**: Inventory +12% YoY to $147M (including $3M tariffs). Debt $118M, with $51M share buybacks and $10M dividends.

**【Q&A Key Takeaways】**
- **Lilly Pulitzer strategy**: Focus on core customers with high newness (50%+), balanced color palettes, and limited-edition collaborations. Momentum expected to continue in Q2.
- **Tariff mitigation**: 2026 Spring collections will fully offset tariff costs via price increases and sourcing diversification. 2025 will see <50bps GM% decline despite 30% China tariffs.
- **Johnny Was turnaround**: 2025 focus on profitability through better assortments, marketing efficiency, and store execution. 2026+ rebound expected.
- **Wholesale channel**: Q1 +4% vs. expectations, but specialty stores lagging. FY2025 wholesale flat to down low single digits.
- **Restaurant performance**: Food/beverage sales -3% (-1% comp), with ticket growth offsetting traffic decline.

Oxford Industries, Inc. (OXM) Q1 2025 Earnings Call Transcript

- **Q4 Strong Finish**: Net sales and EPS at top of guidance, driven by holiday strength (Dec comps +2%) despite Q1 softness (-3%)
- **2025 Outlook Cautious**: Sales -2% to +1%, EPS $4.60-5.00 (-25%) due to tariffs ($0.45-0.50 EPS impact), higher interest expense
- **Brand Strategies**: 
  - Tommy Bahama activating top 25 markets 
  - Lilly Pulitzer targeting top 20% customers 
  - Johnny Was reintroducing embroidered products
- **Shareholder Returns**: $50M buyback at $59.38, 3% dividend increase to $0.69/Q, $100M repurchase program
- **Tariff Mitigation**: Full resolution by 2026, but 2025 impact already baked into guidance

**【CEO Summary Section】**
- Fourth quarter net sales and adjusted EPS both near the top of guidance ranges, driven by strong holiday performance in Tommy Bahama and Lilly Pulitzer. December comps up 2%, but January and February comps down 3% and 9% respectively due to consumer hesitation. 
- Fiscal 2025 outlook cautious with net sales expected to decline 2%-up 1% vs 2024, but focus on key events (Easter, Mother's Day) for incremental sales. 
- Key initiatives: 
  - 4-point North Star strategy (maximize shareholder value, brand portfolio, customer happiness, cash generation) 
  - Brand-specific focuses: 
    - Tommy Bahama: Activate top 25 markets 
    - Lilly Pulitzer: Target top 20% of customers 
    - Johnny Was: Reintroduce embroidered products 
  - 20 new store openings planned, including 4 Marlin Bars 
  - $50M share buyback completed at $59.38 avg price, 3% dividend increase to $0.69/Q

**【CFO Financial Commentary】**
- FY24 net sales $1.52B (-3% vs 2023), adj. EPS $6.68 (top of guidance). Key metrics: 
  - E-commerce down 4%, brick-and-mortar down 2% 
  - Gross margin 63.2% (-80bps vs 2023) due to higher promotional sales 
  - SG&A up 4% to $841M due to new store openings 
  - Operating margin 9% vs 13.8% prior year 
- FY25 guidance: 
  - Net sales $1.49-1.53B (-2% to +1%) 
  - Adj. EPS $4.60-5.00 (-25% vs 2024) due to: 
    - 50-100bps gross margin decline from tariffs 
    - $9-10M tariff impact ($0.45-0.50 EPS) 
    - $7M higher interest expense 
    - 24.5% tax rate vs 20.9% prior year 
  - 2025 capex $125M for Lyons, GA distribution center 
  - $100M share repurchase program authorized

**【Q&A Highlights】**
1. **Brand Performance Variance**: 
   - Lilly Pulitzer strongest performer with positive comps 
   - Tommy Bahama and Johnny Was comps negative 
   - Johnny Was wholesale business declining but plans to rebuild
2. **Tariff Mitigation**: 
   - $9-10M unmitigated impact in 2025 
   - Strategies: early inventory receipts, vendor cost sharing, price increases 
   - Full mitigation expected by spring 2026
3. **Consumer Behavior**: 
   - Strong response to new products (e.g. Tommy Bahama Barbados Pro shorts) 
   - March comps improving vs February, April expected to be strong
4. **SG&A Control**: 
   - Focused on marketing efficiency, vendor contract negotiations 
   - 2025 SG&A growth 2-3% despite new store openings

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