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Apparel, Accessories and Luxury Goods Stocks Q1 Teardown: Columbia Sportswear (NASDAQ:COLM) Vs The Rest


Kayode Omotosho /
2024/06/19 6:13 am EDT

Wrapping up Q1 earnings, we look at the numbers and key takeaways for the apparel, accessories and luxury goods stocks, including Columbia Sportswear (NASDAQ:COLM) and its peers.

Within apparel and accessories, not only do styles change more frequently today than decades past as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel, accessories, and luxury goods companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 17 apparel, accessories and luxury goods stocks we track reported a mixed Q1; on average, revenues beat analyst consensus estimates by 0.5%. while next quarter's revenue guidance was 2.2% below consensus. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, and apparel, accessories and luxury goods stocks have held roughly steady amidst all this, with share prices up 3.4% on average since the previous earnings results.

Columbia Sportswear (NASDAQ:COLM)

Originally founded as a hat store in 1938, Columbia Sportswear (NASDAQ:COLM) is a manufacturer of outerwear, sportswear, and footwear designed for outdoor enthusiasts.

Columbia Sportswear reported revenues of $770 million, down 6.2% year on year, topping analysts' expectations by 3.6%. It was a solid quarter for the company, with an impressive beat of analysts' constant currency revenue and earnings estimates.

Chairman, President and Chief Executive Officer Tim Boyle commented, “2024 has started out broadly in line with our expectations. We are making good progress against our top priorities. Inventory exiting the quarter was down 37 percent year-over-year, and our Profit Improvement Plan is on track to achieve our savings targets. Based on year-to-date results, we are reiterating our net sales outlook while modestly increasing our diluted EPS range.

Columbia Sportswear Total Revenue

The stock is up 3.8% since the results and currently trades at $82.

Is now the time to buy Columbia Sportswear? Access our full analysis of the earnings results here, it's free.

Best Q1: Figs (NYSE:FIGS)

Rising to fame via TikTok and founded in 2013 by Heather Hasson and Trina Spear, Figs (NYSE:FIGS) is a healthcare apparel company known for its stylish approach to medical attire and uniforms.

Figs reported revenues of $119.3 million, down 0.8% year on year, outperforming analysts' expectations by 1.6%. It was a very good quarter for the company, with an impressive beat of analysts' earnings and operating margin estimates.

Figs Total Revenue

The stock is down 13.7% since the results and currently trades at $4.86.

Is now the time to buy Figs? Access our full analysis of the earnings results here, it's free.

ThredUp (NASDAQ:TDUP)

Founded to revolutionize thrifting, ThredUp (NASDAQ:TDUP) is a leading online fashion resale marketplace that offers a wide selection of gently-used clothing and accessories.

ThredUp reported revenues of $79.59 million, up 4.8% year on year, falling short of analysts' expectations by 0.9%. It was a weak quarter for the company: Its full-year revenue guidance missed Wall Street's estimates along with its operating margin and EPS.

ThredUp pulled off the fastest revenue growth but had the weakest full-year guidance update in the group. The stock is down 7.5% since the results and currently trades at $1.73.

Read our full analysis of ThredUp's results here.

Tapestry (NYSE:TPR)

Originally founded as Coach, Tapestry (NYSE:TPR) is an American fashion conglomerate with a portfolio of luxury brands offering high-quality accessories and fashion products.

Tapestry reported revenues of $1.48 billion, down 1.8% year on year, falling short of analysts' expectations by 1.1%. It was a slower quarter for the company, with full-year revenue guidance missing analysts' expectations and a miss of analysts' earnings estimates.

The stock is up 6.3% since the results and currently trades at $41.45.

Read our full, actionable report on Tapestry here, it's free.

Oxford Industries (NYSE:OXM)

The parent company of Tommy Bahama, Oxford Industries (NYSE:OXM) is a lifestyle fashion conglomerate with brands that embody outdoor happiness.

Oxford Industries reported revenues of $398.2 million, down 5.2% year on year, falling short of analysts' expectations by 1.6%. It was a weak quarter for the company, with underwhelming earnings guidance for the full year and a miss of analysts' operating margin estimates.

The stock is down 0.3% since the results and currently trades at $100.7.

Read our full, actionable report on Oxford Industries here, it's free.

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