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Oxford Industries Inc. (OXM-9.29%) has submitted its Form 10-K filing for the fiscal year ended February 1, 2025.
The filing includes financial statements for the year, showing a decrease in net sales to $1.52 billion from $1.57 billion in the previous year. This decrease is attributed to lower sales in Tommy Bahama, Lilly Pulitzer, and Johnny Was segments.
Gross profit for the year was $954.6 million, compared to $995.6 million in the previous year. The decline was primarily due to lower sales and decreased gross margin.
SG&A expenses increased to $854.8 million from $820.7 million, driven by higher costs associated with new retail store openings and increased advertising expenses.
The company reported operating income of $119 million, up from $81 million in the previous year, primarily due to the absence of impairment charges recognized in Fiscal 2023.
Net earnings for the year were $93 million, compared to $60.7 million in the previous year, with the increase attributed to improved operating results in Corporate and Other.
Cash provided by operating activities was $194 million, while cash used in investing and financing activities was $143.3 million and $48.6 million, respectively.
Oxford Industries had a working capital of $44.5 million as of February 1, 2025. The company continues to focus on expanding its direct to consumer operations and investing in technology and infrastructure.
The filing also details various financial agreements, including the U.S. Revolving Credit Agreement, which provides a revolving credit facility of up to $325 million.
Oxford Industries does not anticipate any significant changes in its dividend policy, having paid $43 million in dividends during the year.
The company identified no material impairments for goodwill and intangible assets in Fiscal 2024, following significant impairments recognized in the previous year.
Oxford Industries continues to monitor macroeconomic conditions, including inflation and geopolitical risks, which could impact future financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Oxford Industries Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.