Oxford Industries Inc. (NYSE:OXM) Q2 2019 Earnings Conference Call Transcript

Sep 11, 2019 • 04:30 pm ET

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Oxford Industries Inc. (NYSE:OXM) Q2 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Greetings. And welcome to the Oxford Industries Second Quarter Fiscal 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation [Operator instructions]. As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Anne Shoemaker, Treasurer. Please go ahead.

Executive
Anne M. Shoemaker

Thank you and good afternoon. Before we begin, I would like to remind participants that certain statements made on today's call and in the Q&A session may constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees, and the actual results may differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results of operations or our financial condition to differ are discussed in our press release issued earlier today, and in documents filed by us with the SEC, including the risk factors contained in our Form 10-K.

We undertake no duty to update any forward-looking statements. During this call, we will be discussing certain non-GAAP financial measures. You can find a reconciliation of non-GAAP to GAAP financial measures in our press release issued earlier today, which is posted under the Investor Relations tab of our website at oxfordinc.com. Please note that all financial results and outlook information discussed on this call, unless otherwise noted, are from continuing operations, and all per-share amounts are on a diluted basis.

Our disclosures about comparable sales include sales from our full-price stores and e-commerce sites, and excludes sales associated with outlet stores and e-commerce/clearance sales. And now I'd like to introduce today's calls participants. With me today are Tom Chubb, Chairman and CEO; and Scott Grassmyer, CFO. Thank you for your attention. And now I'd like to turn the call over to Tom Chubb.

Executive
Thomas Caldecot Chubb

Thank you for joining us this afternoon. I want to start today's call by taking a moment to remember and honor the victims of 9/11, their families, as well as the survivors and first responders. That tragic day will always serve as a reminder of our country's resilience and the strength of the American spirit.

Our second quarter performance included top and bottom line results that were within our guidance ranges, despite some marketplace headwinds. Our strategy of operating a powerful portfolio of lifestyle brands like Tommy Bahama, Lilly Pulitzer and Southern Tide and emphasizing full price direct-to-consumer channels continues to produce, enhance profitability and drive long term shareholder value. I am pleased to report that for the 10th consecutive quarter, we posted consolidated comparable sales growth and expanded consolidated gross margin and operating margin in the quarter.

To win with today's highly informed and empowered consumer, you need to have a brand that stands for something, a lifestyle or culture that resonates with your target audience. And you have to reinforce that lifestyle and culture in everything you do from product and marketing to service and distribution. This is the Oxford approach and the foundation for