Oxford Industries Inc Q4 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ashley Owens - KeyBanc Capital Markets - Analyst : Good afternoon. So to start, I wanted to touch on the first-quarter guide. I know you spoke to some of the comps and what you've seen thus far. Maybe if you could help us unpack some of the different headwinds you mentioned in the magnitude of each, did it vary by brand at all? And then additionally, as we think about the balance of the year, some of the puts and takes in your assumptions for both the low and high end of the revenue guidance ranges? Thank you.

Question: Ashley Owens - KeyBanc Capital Markets - Analyst : Okay, great. And then quickly as well. I'm hearing from some of the other brands you've spoken to, we're hearing from wholesale partners that they're tightening some of the order books for the remainder of the year and becoming cautious again. Would be curious if this is something you've observed and if there's any variances by brand. Then additionally, just maybe a little bit on the details for the Johnny Was plan. It was down 9% in the quarter. So where you're observing some of the soft spots of its regional or broad-based? Anything outside of the assortment that you want to or see opportunity to change this year? And then anything you can say on wholesale door increases as we move through the year? I believe you mentioned before that the brand was reentering some accounts in 2025.

Question: Ashley Owens - KeyBanc Capital Markets - Analyst : The only other thing would have been moved, Johnny Was just anything outside of the assortment for opportunity to change this year?

Question: Ashley Owens - KeyBanc Capital Markets - Analyst : Okay, great. Thank you, all. I'll pass it along.

Question: Ethan Saghi - BTIG - Analyst : Hey. You've got Ethan Saghi on for Janine. First question, just with all the macro uncertainty going on so far this year, are customers still responding positively to newness in the assortment, or have they pulled back across the board? And would you say your assortment is more balanced with newness now, or is there still some room to improve?

Question: Ethan Saghi - BTIG - Analyst : That's great to hear. And then just one more for me. So besides needing more bullish consumer, just could you provide us some more detail on internal initiatives you're taking to improve conversion?

Question: Ethan Saghi - BTIG - Analyst : Got it. That's really helpful. I'll pass it on and best of luck.

Question: Mauricio Serna - UBS - Analyst : Great. Good afternoon, and thanks for taking my questions. First, maybe could you talk about what is like the comp sale in March that you've seen? It sounds like things got a little bit better relative to February, so just wanted to get a bit of understanding on that? And maybe could you help us -- sorry? K. Scott Grassmyer - Oxford Industries Inc - Chief Financial Officer, Chief Operating Officer, Executive Vice President Go ahead. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 27, 2025 / 8:30PM, OXM.N - Q4 2024 Oxford Industries Inc Earnings Call

Question: Mauricio Serna - UBS - Analyst : Got it. Very helpful. And then on SG&A, I recall, like in the last few earnings calls, you had talked about trying to get some operating leverage, trying to control SG&A, but this year is still going to be growing higher than sales. So I understand what drivers of growth, but what are some initiatives that you're doing to kind of try to like control the SG&A? K. Scott Grassmyer - Oxford Industries Inc - Chief Financial Officer, Chief Operating Officer, Executive Vice President We're looking at everything. Marketing efficiency, really monitor marketing spend. And there have been some people reductions throughout the company. So we're really looking at everything we can. We're trying to negotiate hard with vendors on when all kinds of contracts is a heavy initiative there. So we're looking at all things. And a very good part of any SG&A increases really these new stores within having negative -- and having negative comps in our existing base so we're not getting -- you have to overcome that to get any leverage, but it is a real focus.

Question: Tracy Kogan - Citi - Analyst : Hey, thanks. It's Tracy Kogan filling in for Paul. I had a follow-up first on an earlier question about what you're seeing from your wholesale partners. I know you said others are hearing that they're expressing caution. But I'm wondering what your actually seeing in your order books, I think you had said your order books were positive as of your last earnings call. And I'm wondering if you're seeing changes there or if you haven't really seen it yet, but you maybe anticipate that coming in? And I have another question when you're finished with that one. K. Scott Grassmyer - Oxford Industries Inc - Chief Financial Officer, Chief Operating Officer, Executive Vice President We've now -- our latest projection has our wholesale business more flat, up a little bit in the spring and down just a little bit, but we're still booking. So I think we put a little caution into our projections on what our future bookings will be for the rest of the year. And as Tom mentioned, we are performing well on the floor. But -- most retail or most retail accounts probably are getting more cautious themselves. We are being more cautious on our inventory buys for the back half of this year, and then we'll probably do the same for going into next year. We'd rather be in a situation instead of having too much inventory, things bounce back, we're chasing a little bit. So we're approaching it with caution, not panicking, but just caution.

Question: Tracy Kogan - Citi - Analyst : Got it. Thanks very much. Good luck, guys.