Oxford Q4 Profit Beats Expectations, Shares Jump

Shares of

jumped over 10 percent in after-hours trading after the company reported stronger-than-expected earnings for its fourth quarter. The Atlanta, Georgia-based company posted quarterly GAAP earnings of $0.96 per share, versus $0.91 per share, in the year-ago period. Adjusted earnings surged 21 percent to $1.08 per share from $0.89 per share. Its consolidated net sales climbed 10 percent to $274.5 million from $250.4 million. However, analysts, on average, were expecting earnings of $1.03 per share on revenue of $274.80 million. Tommy Bahama's net sales climbed 11 percent year-over-year to $186.0 million, versus $167.8 million. Lilly Pulitzer's sales rose to $34.8 million from $30.0 million, while Lanier Clothes net sales in the quarter slipped to $27.0 million from $29.8 million. Ben Sherman net sales for the fourth quarter jumped to $25.4 million versus $20.1 million. Adjusted gross margin widened to 55.2 percent from 55.0 percent in the previous year. Operating income surged to $28.8 million from $25.4 million. At January 31, 2015, total inventories were $148.2 million, versus $143.7 million at February 1, 2014. Thomas C. Chubb III, CEO and President commented, "Fiscal 2014 was another good year for Oxford capped by a strong fourth quarter performance driven by solid comparable store sales increases and improved gross margin. We have continued to leverage and reinforce the market leadership positions of each of our key lifestyle brands and were pleased to see solid full-year performances from both Tommy Bahama and Lilly Pulitzer. These are foundational brands for Oxford that generate strong returns and have powerful, long-term growth opportunities." For Oxford, the Estimize Consensus EPS is $1.13, the Estimize Consensus revenue is $279.01 million and the number of estimates included in this consensus is 7. Oxford shares climbed 10.07 percent to $65.50 in the after-hours trading session.