Oxford Industries, Inc. Provides Earnings Guidance for the Second Quarter Ending July 31, 2021 and Third Quarter of Fiscal Year 2021
June 09, 2021 at 04:05 pm EDT
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Oxford Industries, Inc. provided earnings guidance for the second quarter ending July 31, 2021 and third quarter of fiscal year 2021. For the second quarter, the company expects net sales to be between $300 million and $310 million. Earnings per share on a GAAP basis are expected to be in a range of $2.11 to $2.31 in the second quarter.
The Company’s third quarter is historically its smallest sales and earnings quarter due to the seasonality of its direct to consumer operations. Additionally, high sell-throughs in the first quarter and planned sales levels in the second quarter are expected to reduce the size of third quarter clearance events. As a result of lower planned revenue from clearance events and the impact of the Lanier Apparel exit, the Company expects a loss of $0.24 to $0.39 per share on a GAAP basis and a loss of $0.20 to $0.35 per share on an adjusted basis in the third quarter of fiscal 2021.
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. 
