Oxford Industries, Inc. (NYSE:OXM) announced its financial results for the third quarter of fiscal 2025, ending November 1, 2025.
Consolidated net sales in the third quarter of fiscal 2025 were $307 million, slightly lower than the previous year.
The company reported a significant loss per share on a GAAP basis, mainly due to noncash impairment charges associated with Johnny Was.
Net Sales Performance
Net sales for Tommy Bahama declined by 4.4%, while Lilly Pulitzer showed growth of 7.3% in the third quarter of fiscal 2025 compared to the previous year.
Gross Margin
Gross margin decreased to 60.3% primarily due to increased cost of goods sold from additional tariffs and a change in sales mix.
SG&A Expenses
SG&A expenses increased to $213 million, driven by employment costs, occupancy costs, and depreciation expense from new retail locations.
- The company faced a challenging retail environment with consumers being more value-driven and selective in their purchases.
- Impairment charges of $61 million primarily related to Johnny Was reflect revised future projections and challenges in mitigating elevated tariff rates.
Despite the challenges, Oxford Industries remains focused on disciplined inventory and expense management, supporting its brand portfolio, and investing for long-term growth.