Truist Securities Starts Coverage of Oxford Industries (OXM) Stock with $56.00 PT

On May 28, Truist Securities initiated coverage of Oxford Industries, Inc. (NYSE:OXM)’s stock with a “Hold” rating and a price target of $56.

As per the firm, Oxford Industries, Inc. (NYSE:OXM), which owns brands like Tommy Bahama, Lilly Pulitzer, and Johnny Was, witnessed pressure on sales and margin trends. As per the analyst, macro volatility and pressure on the department store channel were some of the headwinds that resulted in a downside in fiscal 2024. Also, such dynamics seem unlikely to significantly improve in the near future because of uncertainties. Therefore, the firm stated that the potential for recovery in Tommy Bahama is limited.

A woman shopping in one of the company’s retail stores, searching for the perfect item.

Oxford Industries, Inc. (NYSE:OXM)’s consolidated net sales for FY 2024 (52 weeks) declined 3% to $1.52 billion as compared to $1.57 billion in FY 2023 (53 weeks). The company acknowledged that challenging trends, which were seen in January and also accelerated into February, give some idea for H1 2025.

Oxford Industries, Inc. (NYSE:OXM) projects net sales of between $1.49 billion – $1.53 billion as compared to net sales of $1.52 billion in FY 2024. As the company moved into January, it saw a demand moderation, which is because of a deterioration in consumer sentiment. Resultantly, January was not as strong as December, with comps down 3%.

Oxford Industries, Inc. (NYSE:OXM) is an apparel company that is engaged in designing, sourcing, marketing, and distributing lifestyle products.

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Disclosure: None.