Oxford Industries, a leader in the apparel industry, reported its net sales grew 1.4 per cent to $1.12 billion in fiscal 2019 ended on February 1, 2020 compared to $1.10 billion in prior year. Sales in Q4 FY19 was $297.59 million compared to $298.53 million in same period prior year. Net earnings in FY19 rose to $68.49 million (FY18: $66.29 million).
Oxford Industries, a leader in the apparel industry, reported its net sales grew 1.4 per cent to $1.12 billion in fiscal 2019 ended on February 1, 2020 compared to $1.10 billion in prior year. Sales in Q4 FY19 was $297.59 million compared to $298.53 million in same period prior year. Net earnings in FY19 rose to $68.49 million (FY18: $66.29 million).#
“Looking back on fiscal 2019, our consolidated results somewhat mask the important progress that was made in our critically important direct to consumer businesses. Fourth quarter comparable sales increased 4 per cent, marking our 12th consecutive quarter of positive gains," Thomas C Chubb III, chairman and chief executive officer, said in a press release.
Oxford Industries, a leader in the apparel industry, reported its net sales grew 1.4 per cent to $1.12 billion in fiscal 2019 ended on February 1, 2020 compared to $1.10 billion in prior year. Sales in Q4 FY19 was $297.59 million compared to $298.53 million in same period prior year. Net earnings in FY19 rose to $68.49 million (FY18: $66.29 million).#
“For the year, comps also increased 4 per cent, our fastest growing channel, which grew 10 per cent and represented 23 per cent of our total sales. In fiscal 2019, our wholesale sales declined as those retailers continued to face strategic challenges, with sales to department stores representing only 11 per cent of our consolidated revenue,” Chubb said.
Oxford Industries, a leader in the apparel industry, reported its net sales grew 1.4 per cent to $1.12 billion in fiscal 2019 ended on February 1, 2020 compared to $1.10 billion in prior year. Sales in Q4 FY19 was $297.59 million compared to $298.53 million in same period prior year. Net earnings in FY19 rose to $68.49 million (FY18: $66.29 million).#
Gross profit in the fiscal was $644.96 million (FY18: $637.12 million). Selling, general & administrative (SG&A) expenses in FY19 was $566.14 million (FY18: $560.50 million). Operating income in the year were $93.67 million (FY18: $90.59 million).
Oxford Industries, a leader in the apparel industry, reported its net sales grew 1.4 per cent to $1.12 billion in fiscal 2019 ended on February 1, 2020 compared to $1.10 billion in prior year. Sales in Q4 FY19 was $297.59 million compared to $298.53 million in same period prior year. Net earnings in FY19 rose to $68.49 million (FY18: $66.29 million).#
Sales of
Tommy Bahama segment in the year were $676.7 million. Lilly Pulitzer sales grew 4.6 per cent to $284.7 million (FY18: $272.3 million). Lanier Apparel segment sales fell 3.2 per cent to $97.3 million (FY18: $100.5 million). Southern Tide sales grew 2.6 per cent to $46.4 million.
Oxford Industries, a leader in the apparel industry, reported its net sales grew 1.4 per cent to $1.12 billion in fiscal 2019 ended on February 1, 2020 compared to $1.10 billion in prior year. Sales in Q4 FY19 was $297.59 million compared to $298.53 million in same period prior year. Net earnings in FY19 rose to $68.49 million (FY18: $66.29 million).#
“While
Covid-19 has created a great deal of near-term uncertainty, we are well-positioned to handle the challenges ahead thanks to our strong balance sheet and liquidity and our advanced digital capabilities that keep us closely connected to the consumer,” Chubb said.
Oxford Industries, a leader in the apparel industry, reported its net sales grew 1.4 per cent to $1.12 billion in fiscal 2019 ended on February 1, 2020 compared to $1.10 billion in prior year. Sales in Q4 FY19 was $297.59 million compared to $298.53 million in same period prior year. Net earnings in FY19 rose to $68.49 million (FY18: $66.29 million).#
The company temporarily closed all of its North American retail stores and restaurants on March 17, is furloughing a significant number of employees, and has broadly implemented a strategy for associates in its corporate and brand offices to work remotely, as reported.
Fibre2Fashion News Desk (JL)
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