Oxford Industries, Inc. (NYSE:OXM) Q4 2022 Earnings Call Transcript

Scott Grassmyer: And as far as the inventory, with $20 million more Johnny Was and we have about $25 million from accelerating the supply chain really — there’s been interruptions out there and we wanted to bring goods in earlier to make sure we had them earlier. We also mentioned that our lines are — we have a much heavier focus on core and key items. In a lot of those programs, you tend to bring in the season’s inventory at the beginning of that season versus fashion where you’re bringing in monthly, you’re bringing in delivery. So that tends to when you have a more core key item business, you tend to carry a little more inventory. So, when you — we like to compare back to ’19 and even despite the Johnny Was and the acceleration, our anticipated sales are expected to much outpaced what the inventory growth has been. So we feel good about our inventory, the composition of it and the levels and we think we’re set up well to capture demand in ’23.

Operator: I would like to turn the floor over to Tom Chubb for closing remarks.

Tom Chubb: Okay. Thank you all very much for your time and your interest in our company and we look forward to talking to you again in June and hope all is well with you until then.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time and thank you for your participation.