Oxford Industries Q3 2024 Filing Released

TL;DR

OXM Q3 2024 results are in. Check the 10-Q for details.

AI Summary

Oxford Industries Inc. reported its third-quarter results for the period ending November 2, 2024. The company's fiscal year ends on February 2nd. Key financial data points and balance sheet information are detailed within this filing.

Why It Matters

This filing provides investors with the latest financial performance and position of Oxford Industries, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediately apparent negative news.

Key Numbers

• 2024-11-02 — End of Fiscal Quarter (The period covered by the report.)
• 20241212 — Filing Date (When the report was submitted to the SEC.)

Key Players & Entities

• OXFORD INDUSTRIES INC (company) — Filer
• 2024-11-02 (date) — End of reporting period
• 20241212 (date) — Filing date
• ATLANTA (location) — Company headquarters city
• GA (location) — Company headquarters state

FAQ

Key Financial Figures

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

Filing Documents

• oxm-20241102.htm (10-Q) — 1398KB
• oxm-20241212xex311.htm (EX-31.1) — 10KB
• oxm-20241212xex312.htm (EX-31.2) — 10KB
• oxm-20241212xex32.htm (EX-32) — 6KB
• 0000075288-24-000082.txt ( ) — 4755KB
• oxm-20241102.xsd (EX-101.SCH) — 19KB
• oxm-20241102_cal.xml (EX-101.CAL) — 48KB
• oxm-20241102_def.xml (EX-101.DEF) — 97KB
• oxm-20241102_lab.xml (EX-101.LAB) — 355KB
• oxm-20241102_pre.xml (EX-101.PRE) — 257KB
• oxm-20241102_htm.xml (XML) — 666KB

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 16

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 40

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 40

Risk Factors

Item 1A. Risk Factors 40

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Other Information

Item 5. Other Information 41

Exhibits

Item 6. Exhibits 41

SIGNATURES

SIGNATURES 42 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; possible changes in governmental monetary and fiscal policies, including, but not limited to, Federal Reserve policies in connection with continued inflationary pressures and the impact of the recent elections in the United States; competitive conditions and/or evolving consumer shopping patterns, particularly in a highly promotional retail environment; acquisition activities (such as the acquisition of Johnny Was), including our ability to integrate key functions, recognize antic

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) November 2, 2024 February 3, 2024 October 28, 2023 ASSETS Current Assets Cash and cash equivalents $ 7,027 $ 7,604 $ 7,879 Receivables, net 75,991 63,362 60,101 Inventories, net 154,263 159,565 157,524 Income tax receivable 19,377 19,549 19,454 Prepaid expenses and other current assets 50,445 43,035 46,421 Total Current Assets $ 307,103 $ 293,115 $ 291,379 Property and equipment, net 244,987 195,137 188,686 Intangible assets, net 253,237 262,101 273,444 Goodwill 27,416 27,190 124,230 Operating lease assets 327,896 263,934 246,399 Other assets, net 46,725 32,188 34,864 Deferred income taxes 15,769 24,179 3,154 Total Assets $ 1,223,133 $ 1,097,844 $ 1,162,156 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable $ 77,597 $ 85,545 $ 68,565 Accrued compensation 17,502 23,660 20,219 Current portion of operating lease liabilities 66,270 64,576 65,224 Accrued expenses and other liabilities 55,218 66,863 58,504 Total Current Liabilities $ 216,587 $ 240,644 $ 212,512 Long-term debt 57,816 29,304 66,219 Non-current portion of operating lease liabilities 310,391 243,703 226,238 Other non-current liabilities 26,171 23,279 20,675 Deferred income taxes — — 9,399 Shareholders' Equity Common stock, $ 1.00 par value per share 15,701 15,629 15,625 Additional paid-in capital 186,590 178,567 174,730 Retained earnings 412,741 369,453 439,755 Accumulated other comprehensive loss ( 2,864 ) ( 2,735 ) ( 2,997 ) Total Shareholders' Equity $ 612,168 $ 560,914 $ 627,113 Total Liabilities and Shareholders' Equity $ 1,223,133 $ 1,097,844 $ 1,162,156 See accompanying notes. 5 Table of Contents OXFORD INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) Third Quarter First Nine Months Fiscal 2024 Fiscal 2023 Fiscal 2024 Fisca

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View this 10-Q filing on SEC EDGAR