Oxford Industries Q3 GAAP loss $0.25; cuts FY2024 guidance on hurricanes and weak consumer

OXFORD INDUSTRIES INC

2024-Q3 EPS reported $4.74 revenue$1,126,095,000

Q3 net sales $308M, down 5.7% YoY; GAAP loss per share $0.25 (vs. earnings $0.68 prior year); adj. loss $0.11.
Hurricanes in SE U.S. caused $4M lost sales and $0.14 EPS impact in Q3; additional $3M loss and $0.11 EPS expected in Q4.
FY2024 guidance lowered: net sales $1.50-1.52B (FY2023: $1.57B); adj. EPS $6.50-6.70 (FY2023 adj. EPS $10.15).
Quarterly dividend maintained at $0.67/share, payable Jan 31, 2025 to holders of record Jan 17, 2025.
Capital expenditures expected ~$150M in FY2024, including $75M for new distribution center in Georgia.

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