• Q4 net profit US$3.9m, versus $2.9m loss
  • Q4 sales down 4.7% to $190.5m
  • Expects growth in Tommy Bahama in fiscal 2010

Apparel group Oxford Industries returned to profit in the fourth quarter, and expects further growth from its Tommy Bahama brand in fiscal 2010.

The US company’s sales were down 4.7% to US$190.5m in the three months to 30 January, but it posted a net profit of $3.9m, versus a loss of $2.9m in the same period last year.

For the full year, sales fell 15.5% to $800.7m, and the company’s net profit was $14.6m, compared to a loss of $271.5m in fiscal 2008.

“Through focused risk management and effective operating discipline, we have weathered this turbulent year in a manner that has preserved the integrity of our brands and positioned us well for 2010,” said J Hicks Lanier, Oxford Industries chairman and CEO.

“In 2010, our primary focus will be on organic growth in our existing lifestyle brands. We expect to see growth in Tommy Bahama, driven by improvements in both our retail and wholesale businesses, and we will set the stage for future growth primarily through store openings, ongoing development of our e-commerce business and an expanded international roll-out.”

The company expects a further decline in full-year sales in fiscal 2010, down to $760-775m, with earnings per share of about $1.40-1.50.

For the first quarter, it expects sales of $200-210m and earnings per share of $0.55-0.60.