Bay Street News

Oxford: Owner of Tommy Bahama, Lilly Pulitzer and Johnny Was Reports First-Quarter Results

ATLANTA, June 12, 2024 (GLOBE NEWSWIRE) — Oxford Industries, Inc. (NYSE:OXM) today announced financial results for its fiscal 2024 first quarter ended May 4, 2024.

Consolidated net sales in the first quarter of fiscal 2024 decreased 5% to $398 million compared to $420 million in the first quarter of fiscal 2023. EPS on a GAAP basis was $2.42 compared to $3.64 in the first quarter of fiscal 2023. On an adjusted basis, EPS was $2.66 compared to $3.78 in the first quarter of fiscal 2023.

Tom Chubb, Chairman and CEO, commented, “Our strong brands and excellent team focused on executing our strategy allowed us to deliver sales and adjusted EPS within our guidance ranges for the first quarter despite continued macroeconomic headwinds and lower levels of consumer sentiment. While most economic indicators remain fairly positive, consumer sentiment has dropped meaningfully from levels at the start of this year and has driven the consumer to become more cautious than originally anticipated in her discretionary spending across our channels of distribution. Encouragingly, our comparable sales trend has improved sequentially and is positive in the second quarter to-date. However, given the continued choppiness in the market and lack of sustained positive momentum, coupled with the drop in consumer sentiment, we believe it is prudent to adopt a more conservative outlook for the balance of the year and therefore are lowering our fiscal 2024 sales and EPS guidance.

Despite these near-term challenges, we still expect topline growth in all our brands, growth in all direct to consumer channels of distribution, and positive comps for the full year. We also expect a strong 2024 from a cash flow perspective and will continue investing in the future of our business. These investments will provide the ability to continue to deliver profitable growth and strong cash flow on a sustained basis.”

Mr. Chubb concluded, “All of this is achieved through the efforts of our remarkable people to whom we are grateful as always.”

First Quarter of Fiscal 2024 versus Fiscal 2023

Net Sales by Operating Group First Quarter
($ in millions)   2024   2023   % Change
Tommy Bahama $225.6   $239.4   (5.8%)
Lilly Pulitzer   88.4   97.5   (9.3%)
Johnny Was   51.2   49.5   3.5%
Emerging Brands   33.0   34.0   (2.9%)
Other   (0.1 ) (0.3 ) nm
Total Company $398.2   $420.1   (5.2%)

Balance Sheet and Liquidity

Inventory decreased $35 million on a LIFO basis and $26 million, or 10%, on a FIFO basis compared to the end of the first quarter of fiscal 2023. Inventory decreased in all operating groups except Johnny Was primarily due to the continued initiatives to closely manage inventory purchases and reduce on-hand inventory levels.

During the first quarter of fiscal 2024 cash flow from operations was $33 million compared to $53 million in the first quarter of fiscal 2023. The cash flow from operations in the first quarter of fiscal 2024 provided sufficient cash to fund $12 million of capital expenditures, $11 million of dividends and $11 million of debt repayment.

As of May 4, 2024, the Company had $19 million of borrowings outstanding, compared to $94 million at the end of the first quarter of last year. Also, the Company had $8 million of cash and cash equivalents versus $10 million of cash and cash equivalents at the end of the first quarter of fiscal 2023. The cash and cash equivalents balance as of May 4, 2024 represents typical cash amounts maintained on an ongoing basis in our operations, which typically is approximately $10 million at any given time.

Dividend

The Board of Directors declared a quarterly cash dividend of $0.67 per share. The dividend is payable on August 2, 2024 to shareholders of record as of the close of business on July 19, 2024. The Company has paid dividends every quarter since it became publicly owned in 1960.

Outlook

For fiscal 2024 ending on February 1, 2025, the Company revised its sales and EPS guidance. The Company now expects net sales in a range of $1.59 billion to $1.63 billion as compared to net sales of $1.57 billion in fiscal 2023. In fiscal 2024, GAAP EPS is expected to be between $7.99 and $8.39 compared to fiscal 2023 GAAP EPS of $3.82. Adjusted EPS is expected to be between $8.60 and $9.00, compared to fiscal 2023 adjusted EPS of $10.15.

For the second quarter of fiscal 2024, the Company expects net sales to be between $430 million and $450 million compared to net sales of $420 million in the second quarter of fiscal 2023. GAAP EPS is expected to be in a range of $2.82 to $3.02 in the second quarter compared to GAAP EPS of $3.22 in the second quarter of fiscal 2023. Adjusted EPS is expected to be between $2.95 and $3.15 compared to adjusted EPS of $3.45 in the second quarter of fiscal 2023.

The Company anticipates interest expense of $2 million in fiscal 2024, including the $1 million in the first quarter of fiscal 2024, with interest expense expected to be less than $1 million each of the second, third and fourth quarters of fiscal 2024. The Company’s effective tax rate is expected to be approximately 24% for the second quarter of fiscal 2024 and approximately 25% for the full year of fiscal 2024.

Capital expenditures in fiscal 2024, including the $12 million in the first quarter of fiscal 2024, are expected to be approximately $170 million compared to $74 million in fiscal 2023. This is a reduction from the Company’s prior estimate due to the timing of cash flows related to investments for future growth, including the timing of spend associated with a multi-year project to build a new distribution center in Lyons, Georgia to ensure best-in-class direct to consumer throughput capabilities for our brands. The planned year-over-year increase in capital expenditures includes approximately $90 million now budgeted in fiscal 2024 for the distribution center project. Additionally, we will invest in new brick and mortar locations, relocations and remodels of existing locations resulting in a year-over-year net increase of full price stores of approximately 25 by the end of fiscal 2024. We will also continue with our investments in our various technology systems initiatives, including e-commerce and omnichannel capabilities, data management and analytics, customer data and insights, cybersecurity, automation including artificial intelligence and infrastructure.

Conference Call

The Company will hold a conference call with senior management to discuss its financial results at 4:30 p.m. ET today. A live web cast of the conference call will be available on the Company’s website at www.oxfordinc.com. A replay of the call will be available through June 26, 2024 by dialing (412) 317-6671 access code 13746788.

About Oxford

Oxford Industries, Inc., a leader in the apparel industry, owns and markets the distinctive Tommy Bahama®, Lilly Pulitzer®, Johnny Was®, Southern Tide®, The Beaufort Bonnet Company®, Duck Head® and Jack Rogers® lifestyle brands. Oxford’s stock has traded on the New York Stock Exchange since 1964 under the symbol OXM. For more information, please visit Oxford’s website at www.oxfordinc.com.

Basis of Presentation

All per share information is presented on a diluted basis.

Non-GAAP Financial Information

The Company reports its consolidated financial statements in accordance with generally accepted accounting principles (GAAP). To supplement these consolidated financial results, management believes that a presentation and discussion of certain financial measures on an adjusted basis, which exclude certain non-operating or discrete gains, charges or other items, may provide a more meaningful basis on which investors may compare the Company’s ongoing results of operations between periods. These measures include adjusted earnings, adjusted earnings per share, adjusted gross profit, adjusted gross margin, adjusted SG&A, and adjusted operating income, among others.

Management uses these non-GAAP financial measures in making financial, operational, and planning decisions to evaluate the Company’s ongoing performance. Management also uses these adjusted financial measures to discuss its business with investment and other financial institutions, its board of directors and others. Reconciliations of these adjusted measures to the most directly comparable financial measures calculated in accordance with GAAP are presented in tables included at the end of this release.

Safe Harbor

This press release includes statements that constitute forward-looking statements within the meaning of the federal securities laws. 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 locations; costs of products as well as the raw materials used in those products, as well as our ability to pass along price increases to consumers; energy costs; our ability to respond to rapidly changing consumer expectations; unseasonal or extreme weather conditions or natural disasters; the ability of business partners, including suppliers, vendors, wholesale customers, licensees, logistics providers and landlords, to meet their obligations to us and/or continue our business relationship to the same degree as they have historically; retention of and disciplined execution by key management and other critical personnel; cybersecurity breaches and ransomware attacks, as well as our and our third party vendors’ ability to properly collect, use, manage and secure business, consumer and employee data and maintain continuity of our information technology systems; the effectiveness of our advertising initiatives in defining, launching and communicating brand-relevant customer experiences; the level of our indebtedness, including the risks associated with heightened interest rates on the debt and the potential impact on our ability to operate and expand our business; changes in international, federal or state tax, trade and other laws and regulations, including the potential for increases or changes in duties, tariffs or quotas; the timing of shipments requested by our wholesale customers; fluctuations and volatility in global financial and/or real estate markets; the timing and cost of retail store and food and beverage location openings and remodels, technology implementations and other capital expenditures; the timing, cost and successful implementation of changes to our distribution network; pandemics or other public health crises; expected outcomes of pending or potential litigation and regulatory actions; the increased consumer, employee and regulatory focus on corporate responsibility issues; the regulation or prohibition of goods sourced, or containing raw materials or components, from certain regions and our ability to evidence compliance; access to capital and/or credit markets; factors that could affect our consolidated effective tax rate; the risk of impairment to goodwill and other intangible assets such as the recent impairment charges incurred in our Johnny Was segment; risks related to a shutdown of the US government; and geopolitical risks, including ongoing challenges between the United States and China and those related to the ongoing war in Ukraine, the Israel-Hamas war and the conflict in the Red Sea region. Forward-looking statements reflect our expectations at the time such forward-looking statements are made, based on information available at such time, and are not guarantees of performance.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Important factors relating to these risks and uncertainties include, but are not limited to, those described in Part I. Item 1A. Risk Factors contained in our Annual Report on Form 10-K for Fiscal 2023, and those described from time to time in our future reports filed with the SEC. We caution that one should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We disclaim any intention, obligation or duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

   
Contact: Brian Smith
E-mail:  InvestorRelations@oxfordinc.com
   

 

Oxford Industries, Inc.
Consolidated Balance Sheets
(in thousands, except par amounts)
(unaudited)
       May 4,   April 29,
    2024     2023  
ASSETS            
Current Assets            
Cash and cash equivalents   $ 7,657     $ 9,712  
Receivables, net     87,918       81,483  
Inventories, net     144,373       179,608  
Income tax receivable     19,437       19,442  
Prepaid expenses and other current assets     38,978       37,459  
Total Current Assets   $ 298,363     $ 327,704  
Property and equipment, net     193,702       181,601  
Intangible assets, net     259,147       280,785  
Goodwill     27,185       122,056  
Operating lease assets     319,308       245,099  
Other assets, net     41,183       33,637  
Deferred income taxes     18,088       3,348  
Total Assets   $ 1,156,976     $ 1,194,230  
             
LIABILITIES AND SHAREHOLDERS’ EQUITY            
Current Liabilities            
Accounts payable   $ 73,755     $ 69,609  
Accrued compensation     19,340       24,318  
Current portion of operating lease liabilities     65,366       67,265  
Accrued expenses and other liabilities     67,124       80,854  
Total Current Liabilities   $ 225,585     $ 242,046  
Long-term debt     18,630       94,306  
Non-current portion of operating lease liabilities     296,080       223,167  
Other non-current liabilities     23,806       19,561  
Deferred income taxes           7,725  
Shareholders’ Equity            
Common stock, $1.00 par value per share     15,634       15,780  
Additional paid-in capital     183,126       176,030  
Retained earnings     396,933       418,043  
Accumulated other comprehensive loss     (2,818 )     (2,428 )
Total Shareholders’ Equity   $ 592,875     $ 607,425  
Total Liabilities and Shareholders’ Equity   $ 1,156,976     $ 1,194,230  
 
Oxford Industries, Inc.
Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
       First Quarter
    Fiscal 2024   Fiscal 2023
Net sales   $ 398,184     $ 420,097  
Cost of goods sold     139,823       144,968  
Gross profit   $ 258,361     $ 275,129  
SG&A     213,103       203,149  
Royalties and other operating income     7,193       8,321  
Operating income (loss)   $ 52,451     $ 80,301  
Interest expense, net     874       2,342  
Earnings before income taxes   $ 51,577     $ 77,959  
Income tax expense     13,204       19,421  
Net earnings (loss)   $ 38,373     $ 58,538  
                 
Net earnings (loss) per share:                 
Basic   $ 2.46     $ 3.75  
Diluted   $ 2.42     $ 3.64  
Weighted average shares outstanding:                 
Basic     15,597       15,629  
Diluted     15,844       16,071  
Dividends declared per share   $ 0.67     $ 0.65  
 
Oxford Industries, Inc.
Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
    First Quarter 
    Fiscal 2024      Fiscal 2023
Cash Flows From Operating Activities:            
Net earnings   $ 38,373     $ 58,538  
Adjustments to reconcile net earnings to cash flows from operating activities:            
Depreciation     13,586       11,512  
Amortization of intangible assets     2,955       3,660  
Equity compensation expense     4,051       3,259  
Gain on sale of property and equipment           (1,756 )
Amortization and write-off of deferred financing costs     96       272  
Deferred income taxes     6,059       4,657  
Changes in operating assets and liabilities, net of acquisitions and dispositions:             
Receivables, net     (24,571 )     (37,542 )
Inventories, net     15,151       39,987  
Income tax receivable     112       (2 )
Prepaid expenses and other current assets     4,051       634  
Current liabilities     (15,365 )     (27,671 )
Other balance sheet changes     (11,575 )     (2,991 )
Cash provided by operating activities   $ 32,923     $ 52,557  
Cash Flows From Investing Activities:            
Acquisitions, net of cash acquired     (240 )     (997 )
Purchases of property and equipment     (11,894 )     (16,662 )
Proceeds from the sale of property, plant and equipment           2,125  
Cash used in investing activities   $ (12,134 )   $ (15,534 )
Cash Flows From Financing Activities:            
Repayment of revolving credit arrangements     (136,216 )     (137,755 )
Proceeds from revolving credit arrangements     125,542       113,051  
Deferred financing costs paid           (1,661 )
Proceeds from issuance of common stock     513       602  
Cash dividends paid     (10,549 )     (10,351 )
Cash used in financing activities   $ (20,710 )   $ (36,114 )
Net change in cash and cash equivalents     79       909  
Effect of foreign currency translation on cash and cash equivalents     (26 )     (23 )
Cash and cash equivalents at the beginning of year     7,604       8,826  
Cash and cash equivalents at the end of period   $ 7,657     $ 9,712  
 
Oxford Industries, Inc.
Reconciliations of Certain Non-GAAP Financial Information
(in millions, except per share amounts)
(unaudited)
    First Quarter
AS REPORTED     Fiscal 2024        Fiscal 2023 % Change
Tommy Bahama              
Net sales   $ 225.6     $ 239.4   (5.8 )%
Gross profit   $ 148.3     $ 158.2   (6.3 )%
Gross margin     65.7 %       66.1%    
Operating income   $ 42.6     $ 55.5   (23.2 )%
Operating margin     18.9 %       23.2%    
Lilly Pulitzer              
Net sales   $ 88.4     $ 97.5   (9.3 )%
Gross profit   $ 59.3     $ 68.3   (13.2 )%
Gross margin     67.0 %       70.1%    
Operating income   $ 15.5     $ 24.5   (36.6 )%
Operating margin     17.6 %       25.2%    
Johnny Was              
Net sales   $ 51.2     $ 49.5   3.5 %
Gross profit   $ 33.2     $ 33.6   (1.0 )%
Gross margin     64.9 %       67.9%    
Operating income   $ 0.3     $ 2.5   (86.6 )%
Operating margin     0.7 %       5.0%    
Emerging Brands              
Net sales   $ 33.0     $ 34.0   (2.9 )%
Gross profit   $ 19.5     $ 15.6   24.9 %
Gross margin     59.2 %       46.0%    
Operating income   $ 3.8     $ 3.9   (2.9 )%
Operating margin     11.5 %       11.5%    
Corporate and Other              
Net sales   $ (0.1 )   $ (0.3 ) NM
Gross profit   $ (2.0 )   $ (0.6 ) NM
Operating loss   $ (9.9 )   $ (6.1 ) NM
Consolidated              
Net sales   $ 398.2     $ 420.1   (5.2 )%
Gross profit   $ 258.4     $ 275.1   (6.1 )%
Gross margin     64.9 %       65.5%    
SG&A   $ 213.1     $ 203.1   4.9 %
SG&A as % of net sales     53.5 %       48.4%    
Operating income   $ 52.5     $ 80.3   (34.7 )%
Operating margin     13.2 %       19.1%    
Earnings before income taxes   $ 51.6     $ 78.0   (33.8 )%
Net earnings   $ 38.4     $ 58.5   (34.4 )%
Net earnings per diluted share   $ 2.42     $ 3.64   (33.5 )%
Weighted average shares outstanding – diluted     15.8       16.1   (1.4 )%
               
    First Quarter
ADJUSTMENTS     Fiscal 2024     Fiscal 2023 % Change
LIFO adjustments(1)   $ 2.2     $ 1.3    
Amortization of Johnny Was intangible assets(2)   $ 2.7     $ 3.5    
Gain on sale of Merida manufactuing facility(3)   $ 0.0     $ (1.8 )  
Impact of income taxes(4)   $ (1.3 )   $ (0.8 )  
Adjustment to net earnings(5)   $ 3.7     $ 2.2    
AS ADJUSTED              
Tommy Bahama              
Net sales   $ 225.6     $ 239.4   (5.8 )%
Gross profit   $ 148.3     $ 158.2   (6.3 )%
Gross margin     65.7 %       66.1%    
Operating income   $ 42.6     $ 55.5   (23.2 )%
Operating margin     18.9 %       23.2%    
Lilly Pulitzer              
Net sales   $ 88.4     $ 97.5   (9.3 )%
Gross profit   $ 59.3     $ 68.3   (13.2 )%
Gross margin     67.0 %       70.1%    
Operating income   $ 15.5     $ 24.5   (36.6 )%
Operating margin     17.6 %       25.2%    
Johnny Was              
Net sales   $ 51.2     $ 49.5   3.5 %
Gross profit   $ 33.2     $ 33.6   (1.0 )%
Gross margin     64.9 %       67.9%    
Operating income   $ 3.1     $ 5.9   (48.7 )%
Operating margin     6.0 %       12.0%    
Emerging Brands              
Net sales   $ 33.0     $ 34.0   (2.9 )%
Gross profit   $ 19.5     $ 15.6   24.9 %
Gross margin     59.2 %       46.0%    
Operating income   $ 3.8     $ 3.9   (2.9 )%
Operating margin     11.5 %       11.5%    
Corporate and Other              
Net sales   $ (0.1 )   $ (0.3 ) NM
Gross profit   $ 0.2     $ 0.7   NM
Operating loss   $ (7.6 )   $ (6.6 ) NM
Consolidated              
Net sales   $ 398.2     $ 420.1   (5.2 )%
Gross profit   $ 260.6     $ 276.5   (5.7 )%
Gross margin     65.4 %       65.8%    
SG&A   $ 210.4     $ 199.7   5.4 %
SG&A as % of net sales     52.8 %       47.5%    
Operating income   $ 57.4     $ 83.3   (31.1 )%
Operating margin     14.4 %       19.8%    
Earnings before income taxes   $ 56.5     $ 81.0   (30.2 )%
Net earnings   $ 42.1     $ 60.8   (30.8 )%
Net earnings per diluted share   $ 2.66     $ 3.78   (29.6 )%
               
      First Quarter   First Quarter   First Quarter
      Fiscal 2024   Fiscal 2024   Fiscal 2023
      Actual   Guidance(6)   Actual
Net earnings (loss) per diluted share:              
GAAP basis   $ 2.42 $ 2.47 – 2.67 $ 3.64
LIFO adjustments(7)     0.11   0.00   0.06
Amortization of Johnny Was intangible assets(8)     0.13   0.13   0.16
Gain on sale of Merida manufacturing facility(9)     0.00   0.00   (0.08)
As adjusted(5)   $ 2.66 $ 2.60 – 2.80 $ 3.78
               
               
      Second Quarter   Second Quarter    
      Fiscal 2024   Fiscal 2023    
      Guidance(10)   Actual    
Net earnings per diluted share:              
GAAP basis   $ 2.82 – 3.02 $ 3.22    
LIFO adjustments(7)     0.00   0.07    
Amortization of Johnny Was intangible assets(8)     0.13   0.16    
As adjusted(5)   $ 2.95 – 3.15 $ 3.45    
               
               
      Fiscal 2024   Fiscal 2023    
      Guidance(10)   Actual    
Net earnings per diluted share:              
GAAP basis   $ $7.99 – $8.39 $ 3.82    
Johnny Was impairment charges(11)     0.00   5.21    
LIFO adjustments(7)     0.11   0.45    
Amortization of Johnny Was intangible assets(8)     0.50   0.65    
Gain on sale of Merida manufacturing facility(9)     0.00   (0.08)    
Impairment of investment in unconsolidated entity(12)     0.00   0.12    
As adjusted(5)   $ 8.60 – 9.00 $ 10.15    
               
(1) LIFO adjustments represents the impact of LIFO accounting adjustments. These adjustments are included in cost of goods sold in Corporate and Other.
(2) Amortization of Johnny Was intangible assets represents the amortization related to intangible assets acquired as part of the Johnny Was acquisition. These charges are included in SG&A in Johnny Was.
(3) Gain on sale of Merida manufacturing facility represents the gain on sale of Oxford’s last owned manufacturing facility, which was located in Merida, Mexico and previously operated by the Lanier Apparel operating group. The gain is included in royalties and other operating income in Corporate and Other in Fiscal 2023.
(4) Impact of income taxes represents the estimated tax impact of the above adjustments based on the estimated applicable tax rate on current year earnings.
(5) Amounts in columns may not add due to rounding.
(6) Guidance as issued on March 28, 2024.
(7) LIFO adjustments represents the impact, net of income taxes, on net earnings per share resulting from LIFO accounting adjustments. No estimate for LIFO accounting adjustments is reflected in the guidance for any future periods.
(8) Amortization of Johnny Was intangible assets represents the impact, net of income taxes, on net earnings per share resulting from the amortization of intangible assets acquired as part of the Johnny Was acquisition.
(9) Fiscal 2023 gain on sale of Merida manufacturing facility represents the gain on sale, net of income taxes, of Oxford’s last owned manufacturing facility, which was located in Merida, Mexico.
(10) Guidance as issued on June 12, 2024.
(11) Johnny Was impairment charges represent the impact of the impairment of the Johnny Was goodwill and intangible asset balances, net of income taxes, on net earnings per share in Fiscal 2023.
(12) Impairment of investment in unconsolidated entity represents the impact, net of income taxes, on net earnings per share relating to the impairment of the ownership interest in an unconsolidated entity in Fiscal 2023.
                                 
  Direct to Consumer Location Count
  End of Q1 End of Q2 End of Q3 End of Q4
Fiscal 2023        
Tommy Bahama        
Full-price retail store 103 101 102 102
Retail-food & beverage 21 22 21 22
Outlet 33 33 34 34
Total Tommy Bahama 157 156 157 158
Lilly Pulitzer full-price retail store 59 59 61 60
Johnny Was        
Full-price retail store 65 67 71 72
Outlet 2 2 2 3
Total Johnny Was 67 69 73 75
Emerging Brands        
Southern Tide full-price retail store 9 13 15 19
TBBC full-price retail store 3 3 3 3
Total Oxford 295 300 309 315
         
Fiscal 2024        
Tommy Bahama        
Full-price retail store 102      
Retail-food & beverage 23      
Outlet 35      
Total Tommy Bahama 160      
Lilly Pulitzer full-price retail store 60      
Johnny Was        
Full-price retail store 75      
Outlet 3      
Total Johnny Was 78      
Emerging Brands        
Southern Tide full-price retail store 20      
TBBC full-price retail store 4      
Total Oxford 322      
         


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