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Tommy Bahama & Lilly Pulitzer Owner Oxford Industries' Wholesale Channel Growth Moderates, Analyst Says

Tommy Bahama & Lilly Pulitzer Owner Oxford Industries' Wholesale Channel Growth Moderates, Analyst Says

分析师称，汤米·巴哈马和莉莉·普利策的所有者牛津工业批发渠道增长温和
Benzinga Real-time News ·  2022/12/16 13:17
  • Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on the shares of Oxford Industries Inc (NYSE:OXM) with a price target of $125.00.
  • The analyst said Oxford's customers are in a good place as they are still traveling and spending.
  • Its higher-end customers have proven to be somewhat insulated from the more challenging macro conditions as the company continues to grow its topline, acquire new customers, and retain existing ones, the analyst added.
  • The company noted that late October and early November were a bit slow, but then business bounced back over the Thanksgiving weekend.
  • This trend compares to one year ago when consumers shopped early, given low inventory levels and concerns over shipping delays, Telsey added.
  • While there is still a lot of holiday shopping time remaining, the company is well-positioned based on current spending and positive indicators for a robust travel season, added the analyst.
  • While next year's economic outlook is uncertain and a recession is a possibility, Oxford believes it will be able to execute through a more pronounced downturn.
  • Intending to expand the brand's annual operating margin, the Tommy Bahama team began implementing merchandising and marketing changes before the pandemic, said the analyst.
  • Supported by these efforts, the Tommy Bahama brand has performed well over the past several years, with the expectation for continued growth.
  • The analyst specified that Tommy's marketing shifted much more towards digital during the pandemic, with the overall tone and messaging now highlighting the brand lifestyle.
  • As the current operating environment continues to challenge consumers and companies, management noted that the wholesale channel has also been pressured, the analyst said.
  • Oxford's bookings have been relatively flattish Y/Y, implying that the company is gaining share.
  • Telsey added, in 2023, the wholesale channel is expected to come in flat Y/Y as growth moderates due to the continued pressures of the current environment.
  • Price Action: OXM shares are trading lower by 1.15% at $98.55 on the last check Friday.
  • Photo Via Company
  • 泰尔西顾问团分析师达纳·特尔西重申了对该公司股票的市场表现评级牛津工业公司(纽约证券交易所代码：OXM)，目标价为125.00美元。
  • 这位分析师表示，牛津的客户状况良好，因为他们仍在旅行和消费。
  • 这位分析师补充说，事实证明，随着公司继续增长背线，获得新客户，并保留现有客户，其高端客户在某种程度上不会受到更具挑战性的宏观环境的影响。
  • 该公司指出，10月底和11月初的销售有点缓慢，但之后业务在感恩节周末反弹。
  • 特尔西补充说，考虑到低库存水平和对发货延误的担忧，这一趋势与一年前相比，当时消费者提前购物。
  • 这位分析师补充说，虽然仍有大量假日购物时间，但基于目前的支出和强劲的旅游旺季的积极指标，该公司处于有利地位。
  • 尽管明年的经济前景不确定，而且有可能出现衰退，但牛津大学相信，它将能够度过更明显的低迷时期。
  • 这位分析师说，为了扩大该品牌的年度运营利润率，Tommy Bahama团队在疫情爆发前开始实施商品销售和营销变化。
  • 在这些努力的支持下，Tommy Bahama品牌在过去几年中表现良好，并有望继续增长。
  • 这位分析师指出，在疫情大流行期间，汤米的营销更多地转向了数字化，整体语气和信息现在突出了品牌生活方式。
  • 这位分析师表示，随着当前的运营环境继续挑战消费者和公司，管理层指出，批发渠道也面临压力。
  • 牛津大学的预订量一直相对持平，这意味着该公司的份额正在增加。
  • 特尔西补充说，2023年，由于当前环境的持续压力，增长放缓，批发渠道预计将同比持平。
  • 价格行动：在周五的最后一次检查中，OXM的股价下跌了1.15%，至98.55美元。
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