Atlanta based branded and private label apparel marketer Oxford Industries Inc announced financial results for the 14-week quarter and 53-week fiscal year ended June 3, 2005. The Company noted that last year's fourth quarter and fiscal year contained 13 weeks and 52 weeks, respectively.
Fiscal 2005 net sales increased 18 percent to $1,313.6 million from $1,116.6 million last year. Net earnings rose 25 percent to $49.8 million from $39.7 million last year and diluted earnings per share increased 21 percent to $2.87 from $2.38 in the prior period.
Fourth quarter net sales rose 14 percent to $386.6 million from $339.1 million in last year's fourth quarter. Net income increased 25 percent to $20.6 million from $16.5 million last year. Diluted earnings per share for the quarter increased to $1.17 from $0.97 in the fourth quarter of fiscal 2004. The Company noted that earnings per share were above its previously issued guidance range of $1.00 to $1.10 and the current First Call consensus estimate of $1.11.
J. Hicks Lanier, Chairman and Chief Executive Officer of Oxford Industries Inc, commented, “They are pleased to deliver another quarter of strong financial results and bring to a close a record year for Oxford. The Tommy Bahama and Ben Sherman lifestyle brands were the driving force behind their growth and profitability, generating more than 40 percent of total sales and 70 percent of total operating earnings in fiscal 2005. They continue tomake significant progress in the strategic repositioning of their business and look forward to another strong performance in the year ahead.”
marketing@alchempro.com
