Oxford Industries, Inc. · NYSE:OXM
Oxford Industries — Oppenheimer 13th Annual Consumer Conference (June 2013)
24 slides from Oxford Industries's conference presentation, Jun 25, 2013
Slide 1: Oppenheimer 13th Annual Consumer Conference Oxford
Oppenheimer 13th Annual Consumer Conference Oxford
Slide 2: Cautionary Statements Regarding Forward-Looking Statements
Cautionary Statements Regarding Forward-Looking Statements This presentation may include statements that are forward-looking statements within the meaning of the federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expre
Slide 3: Introductions
Introductions K. Scott Grassmyer CFO
Slide 4: Oxford's Strategy
Oxford’s Strategy To own, develop and use powerful, emotional brands to drive sustained, profitable growth.
Slide 5: Revenue Mix Dominated by Lifestyle Brands
Revenue Mix Dominated by Lifestyle Brands Fiscal 2012 Revenue Other Ben Sherman Lanier Clothers Lilly Pulitzer Tommy Bahama 1% 10% 13% 14% 62%
Slide 6: Lifestyle Brands Are Our Major Growth Drivers
Note: Lilly Pulitzer was acquired by Oxford in December 2010. The fiscal 2010 sales figure presented represents their full year of operations. 13% increase 17% increase 30% increase 30% increase Lifestyle Brands Are Our Major Growth Drivers $600 $500 $400 $300 $200 $100 $0 Fiscal 2010 Fiscal 2011 Fi
Slide 7: High-Margin Brands Drive Profitability
High-Margin Brands Drive Profitability Fiscal 2012 Operating Income (adjusted) ($ in millions) 80 70 60 50 40 30 20 10 0 -10 -20 Tommy Bahama Lilly Pulitzer Lanier Clothes Ben Sherman Corporate & Other Consolidated
Slide 8: Consolidated Highlights Fiscal 2012
Consolidated Highlights Fiscal 2012 Net Sales Increased 13% to $855.5 million 88% from brands we own 54% from direct to consumer channels of distribution Operating Income (adj.) Increased to $79.3 million from $76.8 million Includes impact of $15.9 million of operating losses related to Asia-Pacific
Slide 9: Consolidated Highlights First Quarter Fiscal 2013
Consolidated Highlights First Quarter Fiscal 2013 Net Sales $234.2 million compared to $231.0 million in Q1 FY12 Operating Income $26.1 million from $32.8 million in Q1 FY12 EPS $0.82 per share from $1.09 per share
Slide 10: Tommy Bahama Fiscal 2012
Tommy Bahama is an island-inspired lifestyle brand that defines relaxed, sophisticated style in men’s and women’s sportswear, swimwear, accessories and footwear. Fiscal 2012 DTC approached 70% of the business Sales per sq. ft. of $705 compared to $645 in FY11 (full price retail stores) E-commerce re
Slide 11: Tommy Bahama First Quarter Fiscal 2013
First Quarter Fiscal 2013 7% sales increase; 10% comp store sales increase Continued investment in Asia-Pacific operations with operating loss of $4.4 million Opened six U.S. and two international stores in quarter At quarter end, operated 121 retail stores globally including : 80 full price stores
Slide 12: Domestic Stores
Domestic Stores
Slide 13: International
International
Slide 14: Lilly Pulitzer Fiscal 2012
Lilly Pulitzer is a designer, marketer and distributor of upscale collections of women’s and girl’s dresses, sportswear and other products. Lilly Pulitzer® was originally created in the late 1950’s and is an affluent brand with a heritage and aesthetic based on the Palm Beach resort lifestyle. Fisca
Slide 15: Lilly Pulitzer First Quarter Fiscal 2013
First Quarter Fiscal 2013 11% sales increase; 3% comp store sales increase 28% operating margin Felt impact of cold, wet Spring weather on east coast At quarter end, operated 21 retail stores, with two more to open in Q’s 2-4 Plan for 4-6 new stores per year Licensed approximately 65 Lilly Pulitzer
Slide 16: Lanier Clothes Fiscal 2012
Lanier Clothes designs and markets branded and private label men’s suits, sportcoats, suit separates and dress slacks across a wide range of price points. Major customers include Men’s Wearhouse, Macy’s, Sears including Lands’ End and Burlington Coat Factory. Over 70% of the business for 2012 was br
Slide 17: Lanier Clothes Growth Opportunities and First Quarter Fiscal 2013
Pursuing opportunities to grow trouser business, expand into new channels of distribution and offer more tailored clothing at higher price points Small capital base consisting primarily of working capital and minimal cap ex providing a very good cash return on cash invested First Quarter Fiscal 2013
Slide 18: Ben Sherman Fiscal 2012
Ben Sherman is a London-based designer, marketer and distributor of branded sportswear and related products. It was established in 1963 as an edgy shirt brand that was adopted by the “mods” and has, throughout its history, been inspired by what is new and current in British art, music, culture and s
Slide 19: Ben Sherman First Quarter Fiscal 2013
First Quarter Fiscal 2013 Sales and operating loss per plan Reduced inventory levels Moving swiftly to get on firmer footing Expense reduction – reductions across the board with meaningful planned reductions in SG&A, primarily in the second half of fiscal 2013 Distribution control – exiting from cer
Slide 20: Capital Structure and Other Items
Capital Structure and Other Items We are in a solid financial position to invest in growing our business. At May 4, 2013, outstanding borrowings of $165.1 million and unused availability of $71.6 million under our revolving credit facilities. Interest expense in the first quarter of fiscal 2013 decl
Slide 21: Capital Structure and Other Items
Capital Structure and Other Items The effective tax rate for the first quarter of fiscal 2013 was 45.8% compared to 38.3% in the first quarter of fiscal 2012. The rate in the first quarter of fiscal 2013 was unfavorably impacted by our inability to recognized a tax benefit for losses in foreign juri
Slide 22: Earnings release expectations: Q2 and full year guidance
As stated in our June 11, 2013 earnings release we expect: Q2 EPS (adj.) at $0.92 - $1.02 compared to $0.65 last year Full year EPS (adj.) guidance of $3.00 - $3.15 compared to $2.61 last year Revenue of $930 - $940 million compared to $856 million last year
Slide 23: Investment Highlights
Investment Highlights Portfolio of high-margin, lifestyle oriented brands Strong, well-developed market position for Tommy Bahama with unexploited potential in direct to consumer and international markets Continued opportunities for growth in Lilly Pulitzer with e-commerce, retail and geographic exp
Slide 24: Oxford
Oxford
Oxford Industries — Oppenheimer 13th Annual Consumer Conference (June 2013) on 6ix