Oxford Industries Q1 2024 Financial Update

TL;DR

OXFORD INDUSTRIES Q1 2024: Financials updated, showing shifts in equity accounts. Check the details.

AI Summary

Oxford Industries Inc. reported its first quarter results for the period ending May 4, 2024. The company's financial statements show changes in retained earnings, common stock, additional paid-in capital, and accumulated other comprehensive income compared to the previous year. Specific dollar amounts and dates for these changes are detailed within the filing.

Why It Matters

This filing provides insight into Oxford Industries' financial health and performance for the first quarter of 2024, which can influence investor decisions and market perception.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• Q1 2024 — Reporting Period (First quarter financial results)
• 2024-05-04 — End Date (End of the reporting period)
• 2024-06-13 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• OXFORD INDUSTRIES INC (company) — Filer
• 20240504 (date) — End of reporting period
• 20240613 (date) — Filing date
• 404-659-2424 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $1 — nge on which registered Common Stock , $1 par value OXM New York Stock Exchang

Filing Documents

• oxm-20240504x10q.htm (10-Q) — 1516KB
• oxm-20240504xex31d1.htm (EX-31.1) — 16KB
• oxm-20240504xex31d2.htm (EX-31.2) — 16KB
• oxm-20240504xex32.htm (EX-32) — 9KB
• 0000075288-24-000009.txt ( ) — 4472KB
• oxm-20240504.xsd (EX-101.SCH) — 21KB
• oxm-20240504_cal.xml (EX-101.CAL) — 40KB
• oxm-20240504_def.xml (EX-101.DEF) — 90KB
• oxm-20240504_lab.xml (EX-101.LAB) — 211KB
• oxm-20240504_pre.xml (EX-101.PRE) — 166KB
• oxm-20240504x10q_htm.xml (XML) — 649KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets (Unaudited) 5 Condensed Consolidated Statements of Operations (Unaudited) 6 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 7 Condensed Consolidated Statements of Cash Flows (Unaudited) 8 Condensed Consolidated Statements of Changes in Equity (Unaudited) 9 Notes to Condensed Consolidated Financial Statements (Unaudited) 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 31

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Other Information

Item 5. Other Information 32

Exhibits

Item 6. Exhibits 32

SIGNATURES

SIGNATURES 33 2 Table of Contents CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS Our SEC filings and public announcements may include forward-looking statements about future events. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. We intend for all forward-looking statements contained herein, in our press releases or on our website, and all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf, to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Such statements are subject to a number of risks, uncertainties and assumptions including, without limitation, demand for our products, which may be impacted by macroeconomic factors that may impact consumer discretionary spending and pricing levels for apparel and related products, many of which may be impacted by inflationary pressures, elevated interest rates, concerns about the stability of the banking industry or general economic uncertainty, and the effectiveness of measures to mitigate the impact of these factors; competitive conditions and/or evolving consumer shopping patterns; acquisition activities (such as the acquisition of Johnny Was), including our ability to integrate key functions, recognize anticipated synergies and minimize related disruptions or distractions to our business as a result of these activities; supply chain disruptions; costs and availability of labor and freight deliveries, including our ability to appropriately staff our retail stores and food and beverage location

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS OXFORD INDUSTRIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par amounts) (unaudited) May 4, February 3, April 29, 2024 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 7,657 $ 7,604 $ 9,712 Receivables, net 87,918 63,362 81,483 Inventories, net 144,373 159,565 179,608 Income tax receivable 19,437 19,549 19,442 Prepaid expenses and other current assets 38,978 43,035 37,459 Total Current Assets $ 298,363 $ 293,115 $ 327,704 Property and equipment, net 193,702 195,137 181,601 Intangible assets, net 259,147 262,101 280,785 Goodwill 27,185 27,190 122,056 Operating lease assets 319,308 263,934 245,099 Other assets, net 41,183 32,188 33,637 Deferred income taxes 18,088 24,179 3,348 Total Assets $ 1,156,976 $ 1,097,844 $ 1,194,230 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable $ 73,755 $ 85,545 $ 69,609 Accrued compensation 19,340 23,660 24,318 Current portion of operating lease liabilities 65,366 64,576 67,265 Accrued expenses and other liabilities 67,124 66,863 80,854 Total Current Liabilities $ 225,585 $ 240,644 $ 242,046 Long-term debt 18,630 29,304 94,306 Non-current portion of operating lease liabilities 296,080 243,703 223,167 Other non-current liabilities 23,806 23,279 19,561 Deferred income taxes — — 7,725 Shareholders' Equity Common stock, $ 1.00 par value per share 15,634 15,629 15,780 Additional paid-in capital 183,126 178,567 176,030 Retained earnings 396,933 369,453 418,043 Accumulated other comprehensive loss ( 2,818 ) ( 2,735 ) ( 2,428 ) Total Shareholders' Equity $ 592,875 $ 560,914 $ 607,425 Total Liabilities and Shareholders' Equity $ 1,156,976 $ 1,097,844 $ 1,194,230 See accompanying notes. 5 Table of Contents OXFORD IND

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View this 10-Q filing on SEC EDGAR