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• Revenue: $308 million for Q3 FY2024, down from $327 million in Q3 FY2023.

• Adjusted Net Loss Per Share: $0.11 for the quarter.

• Sales Impact from Hurricanes: Estimated $4 million loss in sales due to hurricanes.

• Store Count: 342 total stores, up from 309 at the end of Q3 FY2023.

• Adjusted Gross Margin: 63%, a contraction of 100 basis points.

• Adjusted SG&A Expenses: Increased 5% to $201 million from $191 million last year.

• Adjusted Operating Loss: $3 million, or a negative 1.1% operating margin.

• Inventory: Slight increase of $2 million or 1% on a FIFO basis.

• Long-term Debt: $58 million at the end of the quarter.

• Capital Expenditures: $92 million in the first nine months of FY2024.

• Fourth Quarter Sales Forecast: $375 million to $395 million.

• Full Year Sales Forecast: $1.5 billion to $1.52 billion, a decline of 3% to 4% from FY2023.

• Fiscal 2024 Adjusted EPS Forecast: $6.50 to $6.70, down from $10.15 last year.

• Warning! GuruFocus has detected 4 Warning Signs with MIND.

Release Date: December 11, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Oxford Industries Inc (NYSE:OXM) is experiencing a resurgence in consumer confidence, leading to improved discretionary spending.

• The company has successfully launched new products, such as Tommy Bahama's Indigo Palms denim collection and Luxe Sweater offerings, which are performing well.

• Despite short-term challenges, Oxford Industries Inc (NYSE:OXM) continues to invest in strategic initiatives, including new stores and technology, to strengthen long-term growth.

• The company has maintained a strong balance sheet and liquidity, allowing for continued investment and shareholder returns through dividends.

• Oxford Industries Inc (NYSE:OXM) is seeing positive trends in wholesale bookings and improving sales in direct channels, indicating potential for future growth.

Negative Points

• Oxford Industries Inc (NYSE:OXM) faced significant disruptions in the third quarter due to hurricanes, resulting in a $4 million sales loss and additional expenses.

• The company reported a decline in sales and an adjusted net loss per share, falling below guidance expectations.

• There is increased promotional activity, which has pressured margins and shifted sales towards promotional events rather than full-price sales.

• The wholesale channel remains challenging, with sales down 2% compared to the previous year, particularly affecting specialty store business.

• Oxford Industries Inc (NYSE:OXM) anticipates continued macroeconomic headwinds, including potential tariff impacts and a cautious consumer environment.