Fashion conglomerate Oxford Industries (NYSE:OXM) will be announcing earnings results tomorrow afternoon. Here’s what investors should know.
Oxford Industries missed analysts’ revenue expectations by 1.6% last quarter, reporting revenues of $398.2 million, down 5.2% year on year. It was a weak quarter for the company, with 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 grow 4.2% year on year to $438.2 million, slowing from the 15.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.00 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 four 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 Q2 results, giving us a hint as to what we can expect. VF Corp’s revenues decreased 10.1% year on year, missing analysts’ expectations by 4.1%, and Figs reported revenues up 4.4%, topping estimates by 1.4%. VF Corp traded up 7.1% following the results while Figs was down 13.9%.
Read our full analysis of VF Corp’s results here and Figs’s results here.
There has been positive sentiment among investors in the apparel, accessories and luxury goods segment, with share prices up 4.2% on average over the last month. Oxford Industries is down 9.5% during the same time and is heading into earnings with an average analyst price target of $103.3 (compared to the current share price of $81.88).
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