Tommy Bahama Parent Oxford Industries' Results Hurt By Inflation, Hurricanes

Shares of Oxford Industries (OXM) slumped 8% Thursday, a time aft nan genitor of Tommy Bahama, Lilly Pulitzer, and Johnny Was apparel brands reported a astonishing nonaccomplishment and trim its outlook arsenic hurricanes and a user spending pullback wounded sales.

Oxford posted a third-quarter adjusted nonaccomplishment of $0.11 per share, while analysts surveyed by Visible Alpha were looking for an adjusted profit of $0.09 per share. Revenue fell astir 6% year-over-year to $308.0 million, besides beneath forecasts. 

Sales dropped 5.2% to $161.3 cardinal astatine Tommy Bahama; sank 8.5% to $69.8 cardinal astatine Lilly Pulitzer; and fell 6.1% to $46.1 cardinal astatine Johnny Was. Emerging brands income slipped 1% to $30.9 million.

CEO Attributes Results To Inflation, 'Distractions From nan US Elections'

Chief Executive Officer (CEO) Tom Chubb said nan "cumulative effects of respective years of precocious ostentation mixed pinch distractions from nan U.S. elections and different world events, led to little predominant and much tentative user spending behavior."

In addition, Chubb noted that Hurricanes Helene and Milton negatively impacted income successful nan Southeast U.S., nan company's "most important and important market." Chubb explained that nan storms caused an estimated $4 cardinal successful mislaid sales, creating a $0.14-per-share profit decline. 

Oxford now sees full-year income of $1.50 cardinal to $1.52 billion, down from nan earlier estimate of $1.51 cardinal to $1.54 billion. It anticipates adjusted profit of $6.50 to $6.70 per share, compared pinch nan erstwhile outlook of $7.00 to $7.30.

Oxford Industries shares are down much than 20% year-to-date.