Oxford Industries (NYSE: OXM) reported Q3 EPS of $0.10, $0.02 better than the analyst estimate of $0.08. Revenue for the quarter came in at $241.2 million versus the consensus estimate of $240.16 million.

Thomas C. Chubb III, Chairman and CEO, commented, “We delivered another quarter of solid results highlighted by a 6% comparable sales gain on top of a 7% increase a year ago. The strength of our brands and product offerings, combined with the work we’ve done enhancing our direct to consumer capabilities, fueled our top-line performance. At the same time, our commitment to operational excellence throughout the organization allowed us to achieve third quarter earnings at the high end of our guidance range.”

Mr. Chubb continued, “This is a dynamic time of year as we are in the midst of the holiday selling season. With the remaining holiday shopping days and the all-important resort season still ahead of us, we have the opportunity to do a lot of business in the quarter. That said, our fourth quarter sales to date are tracking a bit behind our previous plan and we have modestly trimmed the top end of our earnings outlook. With our powerful brands and brand messaging, our differentiated product, and the incredible shopping experience delivered both online and in-store by our amazing people, we are confident that we can deliver a solid fourth quarter and continue to build shareholder value over the near and long term.”

GUIDANCE:

Oxford Industries sees Q4 2019 EPS of $1.01-$1.16, versus the consensus of $1.14. Oxford Industries sees Q4 2019 revenue of $300-310 million, versus the consensus of $315.26 million.

Oxford Industries sees FY2019 EPS of $4.25-$4.40, versus the consensus of $4.36. Oxford Industries sees FY2019 revenue of $1.125-1.315 billion, versus the consensus of $1.14 billion.

• For the full year fiscal 2019, ending on February 1, 2020, the Company has narrowed its earnings guidance ranges and now expects GAAP earnings per share to be between $4.15 and $4.30. Adjusted earnings per share are expected to be between $4.25 and $4.40. This compares to fiscal 2018 earnings on a GAAP basis of $3.94 per share and, on an adjusted basis, $4.32 per share. The Company expects net sales to grow to between $1.125 billion to $1.135 billion as compared to fiscal 2018 net sales of $1.107 billion.
• For the fourth quarter of fiscal 2019, the Company expects net sales in a range from $300 million to $310 million compared to net sales of $298.5 million in the fourth quarter of fiscal 2018. Earnings per share on a GAAP basis are expected to be in a range of $1.00 to $1.15 in the fourth quarter. On an adjusted basis, earnings per share for the fourth quarter of fiscal 2019 are expected to be in a range of $1.01 to $1.16. This compares with fourth quarter fiscal 2018 GAAP earnings per share of $0.99 and adjusted earnings per share of $1.08.
• The Company’s effective tax rate for fiscal 2019 is expected to be approximately 26%.
• Capital expenditures in fiscal 2019, including $27 million in the first nine months of fiscal 2019, are expected to be approximately $40 million, primarily consisting of investments in information technology initiatives, new retail stores and Marlin Bars, and investments to remodel existing retail stores and restaurants.

For earnings history and earnings-related data on Oxford Industries (OXM) click here.