Fashion conglomerate Oxford Industries (NYSE:OXM) will be reporting earnings tomorrow after market close. Here’s what to look for.
Oxford Industries met analysts’ revenue expectations last quarter, reporting revenues of $404.4 million, up 5.7% year on year. It was a weaker quarter for the company, with a miss of analysts’ operating margin estimates and underwhelming earnings guidance for the full year.
Is Oxford Industries a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Oxford Industries’s revenue to decline 3.6% year on year to $404.8 million, a reversal from the 19.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.68 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Oxford Industries has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Oxford Industries’s peers in the apparel, accessories and luxury goods segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Figs posted flat year-on-year revenue, beating analysts’ expectations by 1.6%, and Kontoor Brands reported a revenue decline of 5.4%, topping estimates by 3.8%. Figs traded down 4.4% following the results while Kontoor Brands was up 5.7%.
Read our full analysis of Figs’s results here and Kontoor Brands’s results here.
Growth stocks have been quite volatile since the start of 2024, and while some of the apparel, accessories and luxury goods stocks have fared somewhat better, they have not been spared, with share prices down 2.8% on average over the last month. Oxford Industries is down 6.6% during the same time and is heading into earnings with an average analyst price target of $107 (compared to the current share price of $101.8).
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