Oxford Industries, Inc. (NYSE:OXM) Q3 2022 Earnings Call Transcript

Noah Zatzkin: Hi. Congrats on the quarter. Thanks for taking my questions. Just on the strong improvement at Lilly, could you just provide a little bit of color on kind of the change in marketing strategy and how that kind of played out in improving trends through the quarter? And then second, across a lot of your peers, we’re seeing kind of stronger performance from brick-and-mortar relative to DTC, but you guys had a pretty even split in terms of growth rates. So just — have you seen any different behavior among consumers shopping brick-and-mortar versus e-commerce or has the behavior largely been the same? Thank you.

Tom Chubb: Yeah. Thank you, Noah for the question, and thanks for being on the call. And what I would say is, I think brick-and-mortar is having a great year. We’re really happy with what we’re seeing there. And while it is true that when you take the Johnny Was impact out of the picture. It was really sort of evenly balanced in terms of year-over-year growth in e-com versus brick-and-mortar. But if you think back to last year and then even the year before, it was much more tilted towards e-com. So the fact that brick-and-mortar is having the growth that it is this year, I think, is a different trend line than what we’ve seen before. We’ve been really happy to see it. It’s wonderful. We expect to see that really continuing through the holiday.

And actually, as we get closer to Christmas, kind of think that bricks and mortar will continue to get stronger. So great to see that. Love to see e-com still growing too, and it’s a good picture all the way around. And then in terms of the improvement at Lilly, it was really about changing the partners that we were working with in the digital marketing arena and then sort of using that as the jumping off point to make sure that we were attending to all the fundamentals in the right way. In our digital marketing arena, I think that work is well underway. Obviously, it’s well underway, and we’ve seen some great results to date, but there is also more to come there. There’s more work to be done and also, I think, more room for us to improve our performance there.

But we were delighted to see the positive comps in Lilly during the quarter in both bricks and mortar and e-commerce.

Noah Zatzkin: Thank you.

Operator: Thank you. There are no further questions at this time. I’ll hand the floor back to Tom Chubb for closing remarks.

Tom Chubb: Thank you, Diego, and thanks to all of you for your interest in our company. We hope you enjoy the holidays, and we will look forward to talking to you again in the new year.

Operator: Thank you. And that concludes today’s conference. All parties may disconnect. Have a great evening.