Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Wachovia Keeps Outperform on Oxford Industries

Oxford Industries (OXM) agreed to acquire Ben Sherman Ltd. for $146 million. Wachovia sees the deal as a terrific strategic fit for Oxford Industries.

Analyst Joseph Teklits says the acquisition should add $150 million in sales and 20 cents to 25 cents to his earnings per share estimate for fiscal year 2005 (ending May). He says the acquisition price of around 1 times sales and 7 times to 8 times estimated EBITDA appears reasonable and in line with the price for Tommy Bahama and industry standards. He sees a terrific strategic fit, providing Oxford with a top emerging men's wear brand, but with a customer and distribution base different from Tommy Bahama.

He notes the company also expects to exceed 85 cents to 88 cents fourth-quarter EPS guidance; he had a 87 cents estimate. He expects more details on a 4 p.m. conference call. He rates the stock outperform.

blog comments powered by Disqus