Oxford Industries: Owner Of Tommy Bahama Reports Mixed Q2 Earnings; Slashes Outlook
Portfolio Pulse from Shivani Kumaresan
Oxford Industries Inc reported Q2 FY23 sales growth of 16% to $420.32 million, missing the analyst consensus of $424.27 million. The company's brands saw varied growth, with Tommy Bahama increasing 1%, Lilly Pulitzer rising 3%, and Emerging Brands gaining 6%. The company also reported a decrease in operating margin from 20.7% to 16.1% and a 10.2% fall in operating income to $67.7 million. Oxford lowered its FY23 sales outlook to $1.57 billion - $1.60 billion and adjusted EPS forecast to $10.30 - $10.60.
September 01, 2023 | 9:57 am
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Oxford Industries reported lower than expected Q2 sales and a decrease in operating margin and income. The company also lowered its FY23 sales outlook and EPS forecast.
Oxford Industries reported lower than expected Q2 sales, which could negatively impact investor sentiment. The decrease in operating margin and income indicates potential profitability issues, which could further drive down the stock price. The company's lowered FY23 sales outlook and EPS forecast could also negatively impact future stock performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100