Shares of Oxford Industries Inc. rose more than 5% in the extended session Wednesday after the maker of Tommy Bahama, Lily Pulitzer and other clothing brands swung to a quarterly profit, raised its dividend, and said its 2022 prospects are brighter. Oxford Industries said it earned $25.4 million, or $1.50 a share, in the fourth quarter, contrasting with a loss of $12.2 million, or 74 cents a share, in the year-ago period. Adjusted for one-time items, Oxford earned $1.68 a share. Sales rose to $300 million, from $221 million a year ago. FactSet consensus called for adjusted EPS of $1.43 a share on sales of $295 million. Each of its brands “had its best year ever in 2021,” with all five posting “strong top and bottom-line growth, not only over 2020, but also as compared to pre-pandemic 2019 levels,” the company said in a statement. The biggest contributor for its “record” earnings was the performance of its largest brand, Tommy Bahama, the company said. The “prospects for 2022 and beyond are even brighter. The momentum that we saw during 2021 has continued into the early part of 2022 and we have outstanding plans to deliver double-digit top and bottom line growth on a consolidated basis,” the company said. Oxford Industries also said its board declared a 31% dividend increase to 55 cents a share, payable on April 29. Oxford Industries guided for fiscal 2022 sales between $1.245 billion and $1.285 billion, and GAAP and adjusted EPS between $8.75 and $9.15. It guided for first-quarter net sales between $315 million and $335 million, and GAAP and adjusted EPS between $2.65 and $2.85. Shares of Oxford Industries ended the regular trading day down 3.4%.
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