- Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on the shares of Oxford Industries, Inc. (NYSE:OXM), with a price target of $125.
- The company is scheduled to report its first-quarter results on Wednesday, June 7, after the market close.
- The analyst applauds Oxford Industries’ string of solid quarters registering topline growth in the past.
- In the quarter to be reported, the analyst expects the company to benefit from the return to in-store shopping.
- The analyst believes the return to work, social activities, and leisure travel have created a more favorable operating environment for the company.
- Going ahead, Oxford Industries is expected to benefit from a mid-single-digit increase across its existing brands.
- Full-price retail and e-commerce are expected to post positive growth, while wholesale and outlet revenue is expected to be flat Y/Y.
- The analyst forecasts Q1 EPS of $3.75 vs. $3.50 last year. On the top line, the analyst predicts sales growth of 19.1% YoY to $420 million.
- Coming to segments, the analyst expects Tommy Bahama to see 5% growth Y/Y, Lilly Pulitzer to see 6% growth Y/Y and 7% growth in the Emerging Brands.
- The analyst expects gross margin expansion of 30 bps to 64.8%, with SG&A (including royalty and other income) to deleverage 130 bps to 45.9% of sales.
- An operating margin of 19.9% is expected in the quarter to be reported, down 200 bps Y/Y.
- Price Action: OXM shares are trading higher by 3.20% to $99.35 on the last check Friday.
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