Fashion conglomerate Oxford Industries (NYSE:OXM) will be announcing earnings results this Wednesday after the bell. Here’s what investors should know.
Oxford Industries beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $392.9 million, down 1.3% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and EPS guidance for next quarter missing analysts’ expectations significantly.
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 3.3% year on year to $406.1 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.18 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 five times over the last two years.
Looking at Oxford Industries’s peers in the apparel and accessories segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Figs delivered year-on-year revenue growth of 5.8%, beating analysts’ expectations by 5.5%, and Kontoor Brands reported revenues up 8.5%, topping estimates by 3.7%. Figs traded down 5.3% following the results while Kontoor Brands was up 19.1%.
Read our full analysis of Figs’s results here and Kontoor Brands’s results here.
There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 13.8% on average over the last month. Oxford Industries is down 1.1% during the same time and is heading into earnings with an average analyst price target of $47.25 (compared to the current share price of $40.28).
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