Oxford Industries, Inc. announced its financial results for the fourth quarter and full fiscal year 2024, which concluded on February 1, 2025. For the 13-week fourth quarter, consolidated net sales were $391 million, compared to $404 million in the 14-week fourth quarter of fiscal 2023. Diluted GAAP earnings per share (EPS) were $1.13, a recovery from a loss of $3.85 per share in the prior year's fourth quarter, while adjusted EPS was $1.37, down from $1.90.
For the full fiscal year 2024, consolidated net sales decreased 3% to $1.52 billion from $1.57 billion in fiscal 2023. Full-year GAAP EPS was $5.87, up from $3.82 in fiscal 2023, which included noncash impairment charges. Adjusted EPS for fiscal 2024 was $6.68, a decrease from $10.15 in fiscal 2023. The Board of Directors declared a quarterly cash dividend of $0.69 per share, representing a 3% increase over the previous payment.
The company also initiated a new $100 million share repurchase authorization, superseding prior authorizations, and completed a $50 million 10b5-1 program in the first quarter of fiscal 2025, repurchasing 842,000 shares at an average price of $59.38. For fiscal 2025, Oxford Industries expects net sales between $1.49 billion and $1.53 billion, with adjusted EPS projected to be between $4.60 and $5.00. This guidance includes a $9 million to $10 million negative impact from recently enacted tariffs, equating to approximately $0.45 to $0.50 per share after tax.
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