Fashion conglomerate Oxford Industries (NYSE: OXM) will be announcing earnings results this Wednesday after the bell. Here’s what to look for.
Oxford Industries beat analysts’ revenue expectations last quarter, reporting revenues of $374.5 million, down 4.1% year on year. It was a softer quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ adjusted operating income estimates.
Is Oxford Industries a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Oxford Industries’s revenue to be flat year on year, improving from the 1.3% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Oxford Industries has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Oxford Industries’s peers in the consumer discretionary - apparel and accessories segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Movado delivered year-on-year revenue growth of 8.1%, beating analysts’ expectations by 5.4%, and Figs reported revenues up 28%, topping estimates by 4.7%. Movado traded up 19.3% following the results while Figs was down 24.3%.
Read our full analysis of Movado’s results here and Figs’s results here.
There has been positive sentiment among investors in the consumer discretionary - apparel and accessories segment, with share prices up 2% on average over the last month. Oxford Industries is up 1.9% during the same time and is heading into earnings with an average analyst price target of $39.75 (compared to the current share price of $44.54).
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