Oxford Industries, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of 2021
December 08, 2021 at 04:10 pm EST
Share
Oxford Industries, Inc. provided earnings guidance for the fourth quarter and full year of 2021. For the quarter, the Company expects net sales to be between $285 million and $295 million compared to net sales of $221 million in the fourth quarter of fiscal 2020 and $298 million in the fourth quarter of fiscal 2019. Lanier Apparel had sales of $9 million and $20 million during the fourth quarter of fiscal 2020 and 2019, respectively, with no sales expected during the fourth quarter of fiscal 2021. The Company expects earnings per share on a GAAP and adjusted basis in a range of $1.20 to $1.35 in the fourth quarter of fiscal 2021. This compares with a loss of $0.74 per share on a GAAP basis and an adjusted earnings per share of $0.13 in the fourth quarter of fiscal 2020, and earnings of $0.90 per share on a GAAP basis and an adjusted earnings per share of $1.09 in the fourth quarter of fiscal 2019.
For the full fiscal year, the Company now expects net sales in a range of $1.127 billion to $1.137 billion as compared to net sales of $749 million in fiscal 2020 and $1.123 billion in fiscal 2019. Lanier Apparel is expected to have sales of $25 million for fiscal 2021 and had sales of $39 million and $95 million during fiscal 2020 and 2019, respectively. In fiscal 2021, GAAP earnings per share are expected to be between $7.49 and $7.64. Adjusted earnings per share are expected to be between $7.52 and $7.67. This compares to a loss on a GAAP basis of $5.77 per share and an adjusted loss of $1.81 per share in fiscal 2020, and earnings of $4.05 per share on a GAAP basis and $4.32 per share on an adjusted basis in fiscal 2019.
Oxford Industries, Inc. operates in the apparel industry, which owns and markets Tommy Bahama, Lilly Pulitzer, Johnny Was, Southern Tide, The Beaufort Bonnet Company and Duck Head lifestyle brands. The Company distributes its products through its direct-to-consumer channels, consisting of its brand specific full-price retail stores, e-commerce Websites and outlet stores, and its wholesale distribution channel, which includes sales to various specialty stores, signature stores, department stores, multi-branded e-commerce Websites and other retailers. Additionally, it operates Tommy Bahama food and beverage locations, including Marlin Bars and full-service restaurants, generally adjacent to a Tommy Bahama full-price retail store. Tommy Bahama designs, sources, markets, and distributes menâs and womenâs sportswear and related products. Lilly Pulitzer designs, sources, markets, and distributes upscale collections of womenâs and girlâs dresses, sportswear, and related products.
OXFORD INDUSTRIES, INC. 
