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ATLANTA - Oxford Industries, Inc. (NYSE:OXM) reported fourth quarter earnings that missed estimates and provided weaker-than-expected guidance for fiscal 2025, sending shares down 8.4% in after-hours trading Thursday.
The apparel company posted adjusted earnings per share of $1.37 for the fourth quarter, below the analyst consensus of $1.26. Revenue came in at $390.5 million, topping estimates of $383.94 million but down 3.4% YoY.
For the full fiscal year 2024, Oxford Industries reported adjusted EPS of $6.68 on revenue of $1.52 billion, down from $10.15 and $1.57 billion respectively in fiscal 2023.
Looking ahead, the company provided disappointing guidance for fiscal 2025. Oxford Industries expects adjusted EPS of $4.60 to $5.00, well below the $6.81 analyst consensus. Revenue is projected between $1.49 billion and $1.53 billion, also short of the $1.54 billion estimate.
"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," said CEO Tom Chubb (NYSE:CB).
The weak outlook overshadowed Oxford’s fourth quarter revenue beat. The company said results were driven by a successful holiday season, though trends moderated in January as consumer sentiment deteriorated.
Oxford Industries operates several apparel brands including Tommy Bahama, Lilly Pulitzer and Johnny Was.
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