Oxford Industries posted Q4 fiscal 2025 revenue of $374.5M, beating analyst estimates by 0.7%, but missed adjusted EPS expectations with a loss of $0.09 vs. the $0.03 consensus. Full-year net sales declined 3% to $1.48B. Shares fell 2.64% in after-hours trading following the announcement.
About Oxford Industries
Oxford Industries, Inc. (NYSE: OXM) is a leading Atlanta-based designer, marketer, and distributor of high-quality lifestyle apparel and accessories. Founded in 1942, the company has grown from a military uniform manufacturer into a diversified multi-brand apparel conglomerate. Its portfolio includes Tommy Bahama (island-inspired lifestyle), Lilly Pulitzer (resortwear), Johnny Was (contemporary women’s apparel), and a portfolio of Emerging Brands including Southern Tide, TBBC, Duck Head, and Jack Rogers.
The company operates approximately 330 retail stores and 28 restaurants (Marlin Bars) and employs roughly 6,000 people. As of late March 2026, Oxford’s market capitalization stands at approximately $490.5M to $531M. The company has maintained dividend payments for over 55 years, with the board raising the quarterly dividend 1% to $0.70 per share alongside the Q4 results. Oxford trades at a deeply negative trailing P/E given the fiscal 2025 GAAP loss, but carries a dividend yield of approximately 8.65%.
Top Financial Highlights
- Q4 Net Sales totaled $374.5 million, a 4.1% year-over-year decline vs. $391 million in Q4 fiscal 2024
- Q4 Adjusted EPS was -$0.09, significantly below the analyst consensus estimate of $0.03
- Q4 GAAP Diluted EPS was -$0.48, including a $0.24 per share charge from an increased LIFO reserve, vs. earnings of $1.13 in Q4 fiscal 2024
- Full Year Net Sales fell 3% to $1.48 billion compared to $1.52 billion in fiscal 2024
- Full Year GAAP Net Loss was $28 million ($1.86 loss per share) vs. net income of $93 million ($5.87 EPS) in fiscal 2024
- Full Year Adjusted EPS was $2.11 compared to $6.68 in fiscal 2024
- Q4 Gross Margin was 56.8%, down from 60.6% in Q4 fiscal 2024; full-year adjusted gross margin contracted 190 basis points to 61.3%, with tariffs alone accounting for a 200 basis point drag worth approximately $30 million
- Q4 Adjusted EBITDA was $8.1 million (2.2% margin) vs. analyst estimate of $17.6 million, a 54% miss; full-year adjusted EBITDA was $107 million vs. $193 million in fiscal 2024
- Operating Cash Flow was $119.6 million, down from $194.0 million the prior year
- Cash on hand was $8.1 million at January 31, 2026; long-term debt rose to $116.4 million from $31 million a year earlier
- Tommy Bahama Q4 Revenue was $229.2 million (down 4% YoY); full-year revenue was $828.5 million (down 5%)
- Lilly Pulitzer Q4 Revenue was $73.5 million (down 1% YoY); full-year revenue was $337.8 million (up 4%)
- Johnny Was Q4 Revenue was $37.9 million (down 20% YoY); full-year revenue was $169.1 million (down 13%)
- Full fiscal 2026 Guidance targets net sales of $1.475B to $1.53B, adjusted EPS of $2.10 to $2.70, and Q1 guidance of $385M to $395M in sales with adjusted EPS of $1.20 to $1.30
- $61 million in noncash impairment charges were recorded in fiscal 2025, primarily associated with the Johnny Was trademark ($3.02 per share impact)
Beat or Miss?
| Metric | Reported | Estimated | Difference / Analysis |
| Q4 Revenue | $374.5M | $371.8M | Beat by $2.7M (+0.7%) |
| Adjusted EPS (Q4) | ($0.09) | $0.03 | Significant miss; $0.12 below consensus |
| Adjusted EBITDA (Q4) | $8.1M | $17.6M | Miss by $9.5M (54% below estimate) |
| Q1 FY2026 Revenue Guidance | $390M (midpoint) | $392.5M | Below analyst estimates by 0.6% |
| FY2026 Adjusted EPS Guidance | $2.40 (midpoint) | ~$2.63 | Miss vs. analyst estimates by 8.9% |
| Full Year Net Sales (FY2025) | $1.48B | $1.52B (prior year) | Declined 3% YoY |
What Leadership Is Saying?
CEO Tom Chubb on strategy and brand momentum:
“Momentum in our largest business, Tommy Bahama, improved as the quarter progressed, with trends strengthening beginning in late January. This momentum helped us deliver fourth quarter net sales and adjusted earnings per share within our guidance ranges, excluding charges associated with the bankruptcy of Saks Global, against the backdrop of an uneven consumer environment. While traffic and conversion trends were pressured across much of our portfolio during the holiday season, and higher tariffs increased our costs, the strategic actions we took to strengthen our supply chain and diversify our sourcing allowed us to protect our strong gross margins.”
CFO and COO Scott Grassmyer on financials and tariff headwinds:
“Adjusted gross margin contracted 190 basis points to 61.3%, driven primarily by $30 million in higher tariffs, about 200 basis points. Absent tariffs, gross margin would have increased year over year. Adjusted EBITDA was $107 million, or a 7.2% EBITDA margin, compared with adjusted EBITDA of $193 million or 12.7% of net sales in the prior year.”
Historical Performance
Q4 Fiscal 2025 vs. Q4 Fiscal 2024
| Category | Q4 Fiscal 2025 | Q4 Fiscal 2024 | Change (%) |
| Total Net Sales | $374.5M | $391M | -4.10% |
| GAAP Diluted EPS | ($0.48) | $1.13 | -142.50% |
| Adjusted EPS | ($0.09) | $1.37 | -106.60% |
| Gross Margin | 56.80% | 60.60% | -380 bps |
| Adjusted EBITDA | $8.1M | $38M | -78.70% |
| Operating Margin | -2.10% | 5.20% | -730 bps |
| Tommy Bahama Revenue | $229.2M | $237.6M | -3.50% |
| Lilly Pulitzer Revenue | $73.5M | $74.0M | -0.70% |
| Johnny Was Revenue | $37.9M | $47.4M | -20.00% |
Competitor Comparison: Oxford vs. Peers
| Category | Oxford Industries (FY2025) | Tapestry (FY2025) | Capri Holdings (FY2025) |
| Annual Revenue | $1.48B | $7.0B (record) | ~$4.0B |
| Revenue YoY Change | -3% | 5% | Declined ~15% in Q4 |
| Net Income / Loss | -$28M (net loss) | Positive (record year) | Net loss $645M in Q4 alone |
| Gross Margin | 61.3% (adjusted) | Expanded 210 bps YoY | 61.0% in Q4 |
| Key Brands | Tommy Bahama, Lilly Pulitzer, Johnny Was | Coach, Kate Spade, Stuart Weitzman | Michael Kors, Jimmy Choo, Versace (being sold) |
| Market Capitalization | ~$490M | Much larger (multi-brand luxury) | Larger but distressed |
| Tariff Impact | ~$30M headwind in FY2025; ~$50M expected in FY2026 | Factored into guidance | Noted as ongoing uncertainty |
How the Market Reacted?
Oxford Industries shares fell 2.64% in after-hours trading to $32.10 following the Q4 earnings announcement on March 26, 2026. The stock had already been under pressure, trading near its 52-week low of $30.57, well off its 52-week high of $64.39. During the subsequent trading session on March 27, shares showed volatile intraday movement, swinging between a low of $32.30 and a high of $37.36, reflecting investor uncertainty around the tariff outlook and the pace of margin recovery.
Analyst Dana Telsey of Telsey Advisory lowered the firm’s price target on OXM to $36 from $40 while maintaining a Market Perform rating, reflecting the persistent headwinds facing the company. The market reaction signals that despite beating the lowered revenue consensus, investors remain focused on the deteriorating profitability trend and the magnitude of fiscal 2026 tariff headwinds estimated at roughly $50 million, approximately $1 per diluted share.
