Earnings Preview: Oxford Industries to Report Q1 Earnings after the Bell
Oxford Industries (NYSE: OXM), an apparel company that produces brands including Tommy Bahama, Lilly Pulitzer and Ben Sherman, is expected to report first quarter 2012 earnings today after market close. Analysts expect the company to report quarterly adjusted earnings per share of $1.07 on revenues of approximately $230.2 million.
For fiscal 2011, approximately 59.6% of the company's sales came from its Tommy Bahama segment, 14.3% from Lanier Clothes segment, 12.5% from its Lilly Pulitzer segment, 12.1% from its Ben Sherman segment and the remainder from the corporate and other category.
Oxford has outshined consensus analyst earnings per share estimates for each of the previous four quarters by 7% or more.
For the second quarter, analysts are expecting adjusted earnings per share of $0.61 and revenues of $202.7 million. For full year fiscal 2012, analysts are expecting Oxford to report adjusted earnings per share of $2.76 on revenues of $847.4 million. After the company's last earnings release, management released guidance for fiscal 2012 adjusted earnings per share of $2.70-$2.80 and sales of $840-$855 million.
Oxford Industries has a price-to-earnings ratio of around 24.8, while Perry Ellis (NASDAQ: PERY), another small cap clothing company, has a price-to-earnings ratio closer to 13.8. The two companies have similar capital structures.
This difference in price-to-earnings ratios might be attributable to higher growth expectations for Oxford Apparel. Analysts now expect Oxford to grow its adjusted earnings per share by approximately 21.4% from fiscal 2012 to fiscal 2013, while analysts expect Perry Ellis to grow its adjusted earnings per share by approximately 12.9% during a similar period.
Shares of Oxford Industries were trading close to 62 cents, or 1.4% lower for the day. Perry Ellis was trading approximately 5 cents or 0.3% lower for the day.
Disclosure: At the time of this writing, I did not own shares of any companies mentioned in this post.
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