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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

分析師稱，湯米·巴哈馬和禮來·普利策所有者牛津工業的批發渠道增長放緩
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
  • 泰爾西顧問團分析師達納·特爾西重申了對該公司股票的市場表現評級牛津工業公司(紐約證券交易所代碼：OXM)，目標價為125.00美元。
  • 這位分析師表示，牛津的客戶狀況良好，因為他們仍在旅行和消費。
  • 這位分析師補充說，事實證明，隨著公司繼續增長背線，獲得新客戶，並保留現有客戶，其高端客戶在某種程度上不會受到更具挑戰性的宏觀環境的影響。
  • 該公司指出，10月底和11月初的銷售有點緩慢，但之後業務在感恩節週末反彈。
  • 特爾西補充說，考慮到低庫存水準和對發貨延誤的擔憂，這一趨勢與一年前相比，當時消費者提前購物。
  • 這位分析師補充說，雖然仍有大量假日購物時間，但基於目前的支出和強勁的旅遊旺季的積極指標，該公司處於有利地位。
  • 儘管明年的經濟前景不確定，而且有可能出現衰退，但牛津大學相信，它將能夠度過更明顯的低迷時期。
  • 這位分析師說，為了擴大該品牌的年度運營利潤率，Tommy Bahama團隊在疫情爆發前開始實施商品銷售和營銷變化。
  • 在這些努力的支持下，Tommy Bahama品牌在過去幾年中表現良好，並有望繼續增長。
  • 這位分析師指出，在疫情大流行期間，湯米的營銷更多地轉向了數位化，整體語氣和資訊現在突出了品牌生活方式。
  • 這位分析師表示，隨著當前的運營環境繼續挑戰消費者和公司，管理層指出，批發渠道也面臨壓力。
  • 牛津大學的預訂量一直相對持平，這意味著該公司的份額正在增加。
  • 特爾西補充說，2023年，由於當前環境的持續壓力，增長放緩，批發渠道預計將同比持平。
  • 價格行動：在週五的最後一次檢查中，OXM的股價下跌了1.15%，至98.55美元。
  • 照片通過公司
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