Oxford Industries Inc (NYSE:OXM) is likely to post a decent increase in sales but lower earnings when it reports second-quarter results after the closing bell on Thursday.
The Atlanta-based owner of brands that include Tommy Bahama, Lilly Pulitzer and Johnny Was, has already flagged its expectations for the quarter - and analysts are in agreement.
With the release of its 1Q results in June, Oxford guided investors to expect 2Q net sales of $415 million to $435 million, up from the $363 million it reported a year earlier.
However, it warned of a decline in adjusted earnings per share (EPS) to between $3.30 and $3.50 from the $3.61 reported for 2Q 2022.
Moderating its growth forecast, Oxford said while the year had started strong, macroeconomic pressures had driven consumers to become more cautious in their discretionary spending, resulting in a high level of promotional activity within the marketplace.
Analysts’ consensus is for adjusted EPS of $3.46 for the quarter, according to Zacks Investment Research.
Ahead of the results, Oxford’s shares were down 0.5% at $102.36 in Wednesday early afternoon trading.
Contact the author at stephen.gunnion@proactiveinvestors.com