Cover
Cover | 12 Months Ended |
Jan. 28, 2023 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Oxford Industries, Inc. |
Entity Central Index Key | 0000075288 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Jan. 28, 2023 | Jan. 29, 2022 | Jan. 30, 2021 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid (as defined by SEC rules and further described below) and certain financial performance measures. The following table sets forth information regarding compensation for our principal executive officer (PEO) and average compensation for our other NEOs (non-PEO NEOs) and certain of our financial performance measures. Our selected performance measure included in the table below is profit before taxes, as adjusted for non-recurring or unusual items (PBT). Information presented in this section will not be deemed to be incorporated by reference into any of our filings under the Securities Act of 1933, as amended, or the Exchange Act. Summary (1) Compensation (3) Average (2) Average (3) Value of Initial Fixed $100 Net Income ($) (6) PBT ($) (7) Year Total (4) Peer Group (5) 2022 5,212,353 11,376,661 1,922,191 4,101,452 179.78 70.25 165,735 195,961 2021 4,765,870 5,702,329 1,893,007 2,310,681 121.22 96.33 131,321 150,568 2020 2,417,381 2,753,167 1,199,853 1,392,821 96.01 97.80 (95,692 ) (83,611 ) (1) Thomas C. Chubb III was our PEO for the entirety of fiscal 2022, 2021 and 2020. The amounts reported reflect the amounts of total compensation reported in the “Total” column of the Summary Compensation Table (SCT) for each applicable year. (2) The amounts reported reflect the average of the amounts of total compensation reported for our non-PEO NEOs in the “Total” column of the SCT for each applicable year. The non-PEO NEOs included in this calculation for each of fiscal 2021 and 2020 are: K. Scott Grassmyer, Thomas E. Campbell, Michelle M. Kelly and Douglas B. Wood. (3) The amounts reported reflect the “compensation actually paid” to Thomas C. Chubb III and the average “compensation actually paid” our non-PEO NEOs for the applicable year, calculated in accordance with Item 402(v) of Regulation S-K. These amounts do not reflect the actual amounts of compensation paid to Thomas C. Chubb III or our non-PEO NEOs for the applicable year. The following table details the adjustments to the total compensation reflected in the SCT used to calculate “compensation actually paid” in accordance with the requirements of Item 402(v). The Company does not maintain a defined benefit pension plan so no adjustments for pension benefits are included in the table below. PEO Non-PEO NEOs (Average) 2022 2021 2020 2022 2021 2020 Total Compensation reported in SCT 5,212,353 4,765,870 2,417,381 1,922,191 1,893,007 1,199,853 Deduct: Grant date fair value reported 2,544,375 2,249,159 1,590,056 783,859 762,800 676,602 Add: Fair value as of fiscal year-end of equity awards granted during the year that are outstanding and unvested as of fiscal year-end 3,982,295 2,045,469 2,620,583 1,233,241 693,750 1,112,476 Add: Change as of fiscal year-end in fair 4,570,887 817,308 (122,799 ) 1,670,440 331,645 (50,573 ) Add: Change as of vesting date in fair value for any equity awards granted in any prior year that vested during the covered fiscal year 155,500 322,840 (571,942 ) 59,439 155,079 (192,331 ) Compensation Actually Paid 11,376,661 5,702,329 2,753,167 4,101,452 2,310,681 1,392,821 (4) The amounts reported reflect cumulative total shareholder return (assuming an initial investment of $100 and the reinvestment of dividends) on our common stock during a period commencing as of market close on January 31, 2020 through and including the end of the applicable fiscal year (the measurement period calculated in accordance with Item 201(e) of Regulation S-K). (5) The amounts reported reflect cumulative total shareholder return (assuming an initial investment of $100 and the reinvestment of dividends) of The S&P 500 Apparel, Accessories and Luxury Goods during a period commencing as of market close on January 31, 2020 through and including the end of the applicable fiscal year. (6) The amounts reported reflect the amount of net income reported in our audited financial statements for the applicable fiscal year. (7) We have determined that PBT is the financial performance measure that represents the most important measure (that is not otherwise required to be disclosed in the table) to link compensation actually paid to the PEO and our other NEOs to our financial performance. | ||
Company Selected Measure Name | PBT | ||
Named Executive Officers, Footnote [Text Block] | (1) Thomas C. Chubb III was our PEO for the entirety of fiscal 2022, 2021 and 2020. The amounts reported reflect the amounts of total compensation reported in the “Total” column of the Summary Compensation Table (SCT) for each applicable year. (2) The amounts reported reflect the average of the amounts of total compensation reported for our non-PEO NEOs in the “Total” column of the SCT for each applicable year. The non-PEO NEOs included in this calculation for each of fiscal 2021 and 2020 are: K. Scott Grassmyer, Thomas E. Campbell, Michelle M. Kelly and Douglas B. Wood. | ||
Peer Group Issuers, Footnote [Text Block] | (5) The amounts reported reflect cumulative total shareholder return (assuming an initial investment of $100 and the reinvestment of dividends) of The S&P 500 Apparel, Accessories and Luxury Goods during a period commencing as of market close on January 31, 2020 through and including the end of the applicable fiscal year. | ||
PEO Total Compensation Amount | $ 5,212,353 | $ 4,765,870 | $ 2,417,381 |
PEO Actually Paid Compensation Amount | $ 11,376,661 | 5,702,329 | 2,753,167 |
Adjustment To PEO Compensation, Footnote [Text Block] | (3) The amounts reported reflect the “compensation actually paid” to Thomas C. Chubb III and the average “compensation actually paid” our non-PEO NEOs for the applicable year, calculated in accordance with Item 402(v) of Regulation S-K. These amounts do not reflect the actual amounts of compensation paid to Thomas C. Chubb III or our non-PEO NEOs for the applicable year. The following table details the adjustments to the total compensation reflected in the SCT used to calculate “compensation actually paid” in accordance with the requirements of Item 402(v). The Company does not maintain a defined benefit pension plan so no adjustments for pension benefits are included in the table below. PEO Non-PEO NEOs (Average) 2022 2021 2020 2022 2021 2020 Total Compensation reported in SCT 5,212,353 4,765,870 2,417,381 1,922,191 1,893,007 1,199,853 Deduct: Grant date fair value reported 2,544,375 2,249,159 1,590,056 783,859 762,800 676,602 Add: Fair value as of fiscal year-end of equity awards granted during the year that are outstanding and unvested as of fiscal year-end 3,982,295 2,045,469 2,620,583 1,233,241 693,750 1,112,476 Add: Change as of fiscal year-end in fair 4,570,887 817,308 (122,799 ) 1,670,440 331,645 (50,573 ) Add: Change as of vesting date in fair value for any equity awards granted in any prior year that vested during the covered fiscal year 155,500 322,840 (571,942 ) 59,439 155,079 (192,331 ) Compensation Actually Paid 11,376,661 5,702,329 2,753,167 4,101,452 2,310,681 1,392,821 | ||
Non-PEO NEO Average Total Compensation Amount | $ 1,922,191 | 1,893,007 | 1,199,853 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 4,101,452 | 2,310,681 | 1,392,821 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (3) The amounts reported reflect the “compensation actually paid” to Thomas C. Chubb III and the average “compensation actually paid” our non-PEO NEOs for the applicable year, calculated in accordance with Item 402(v) of Regulation S-K. These amounts do not reflect the actual amounts of compensation paid to Thomas C. Chubb III or our non-PEO NEOs for the applicable year. The following table details the adjustments to the total compensation reflected in the SCT used to calculate “compensation actually paid” in accordance with the requirements of Item 402(v). The Company does not maintain a defined benefit pension plan so no adjustments for pension benefits are included in the table below. PEO Non-PEO NEOs (Average) 2022 2021 2020 2022 2021 2020 Total Compensation reported in SCT 5,212,353 4,765,870 2,417,381 1,922,191 1,893,007 1,199,853 Deduct: Grant date fair value reported 2,544,375 2,249,159 1,590,056 783,859 762,800 676,602 Add: Fair value as of fiscal year-end of equity awards granted during the year that are outstanding and unvested as of fiscal year-end 3,982,295 2,045,469 2,620,583 1,233,241 693,750 1,112,476 Add: Change as of fiscal year-end in fair 4,570,887 817,308 (122,799 ) 1,670,440 331,645 (50,573 ) Add: Change as of vesting date in fair value for any equity awards granted in any prior year that vested during the covered fiscal year 155,500 322,840 (571,942 ) 59,439 155,079 (192,331 ) Compensation Actually Paid 11,376,661 5,702,329 2,753,167 4,101,452 2,310,681 1,392,821 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Compensation Actually Paid and Total Shareholder Return The following graph reflects the relationship between “compensation actually paid” to our PEO and the average “compensation actually paid” to our non-PEO NEOs and our cumulative TSR for the fiscal years presented in the table. | ||
Compensation Actually Paid vs. Net Income [Text Block] | Compensation Actually Paid and Net Income SEC rules require that net income be presented as a performance measure in the Pay versus Performance table above. The following graph reflects the relationship between “compensation actually paid” to our PEO and the average “compensation actually paid” to our non-PEO NEOs and our net income during the fiscal years presented in the table, as reported in our audited financial statements for the applicable fiscal year. | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Compensation Actually Paid and PBT The following graph reflects the relationship between “compensation actually paid” to our PEO and the average “compensation actually paid” to our non-PEO NEOs and our PBT for the applicable fiscal year. | ||
Total Shareholder Return Vs Peer Group [Text Block] | Total Shareholder Return and Peer Group Total Shareholder Return The following graph reflects a comparison of our cumulative TSR and the cumulative TSR of The S&P 500 Apparel, Accessories and Luxury Goods for the fiscal years presented in the table. | ||
Tabular List [Table Text Block] | Financial Performance Measures As described above under “— Compensation Discussion and Analysis ”, our executive compensation programs include both short- and long-term performance-based incentives with rigorous financial and non-financial performance requirements designed to align the compensation of our NEOs with our financial performance and the interests of our shareholders. The most important financial performance measures used to link compensation actually paid to our PEO and other NEOs with our performance for fiscal 2022 are as follows: • Profit Before Taxes (as described above under “— Compensation Discussion and Analysis • Total Shareholder Return (as described above under “— Compensation Discussion and Analysis • Comparator Group Total Shareholder Return (as described above under “— Compensation Discussion and Analysis As described above under “— Compensation Discussion and Analysis ”, payments of cash incentive awards are paid based on our achievement of performance targets based on profit before taxes, as adjusted for non-recurring or unusual items (PBT). PBT is a performance measure which we believe drives shareholder value by focusing management on the profitability of our company and/or operating groups, taking into consideration the cost of the capital being deployed. Performance-based RSUs awarded under our LTIP are earned based on the percentile rank of our TSR relative to the TSRs of the companies in a comparator group approved by our compensation committee. | ||
Total Shareholder Return Amount | $ 179.78 | 121.22 | 96.01 |
Peer Group Total Shareholder Return Amount | 70.25 | 96.33 | 97.8 |
Net Income (Loss) | $ 165,735,000 | $ 131,321,000 | $ (95,692,000) |
Company Selected Measure Amount | 195,961,000 | 150,568,000 | (83,611,000) |
PEO Name | Thomas C. Chubb III | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Profit Before Taxes | ||
Non-GAAP Measure Description [Text Block] | (7) We have determined that PBT is the financial performance measure that represents the most important measure (that is not otherwise required to be disclosed in the table) to link compensation actually paid to the PEO and our other NEOs to our financial performance. | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Total Shareholder Return | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Comparator Group Total Shareholder Return | ||
PEO [Member] | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (2,544,375) | $ (2,249,159) | $ (1,590,056) |
PEO [Member] | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 3,982,295 | 2,045,469 | 2,620,583 |
PEO [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,570,887 | 817,308 | (122,799) |
PEO [Member] | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 155,500 | 322,840 | (571,942) |
Non-PEO NEO [Member] | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (783,859) | (762,800) | (676,602) |
Non-PEO NEO [Member] | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,233,241 | 693,750 | 1,112,476 |
Non-PEO NEO [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,670,440 | 331,645 | (50,573) |
Non-PEO NEO [Member] | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 59,439 | $ 155,079 | $ (192,331) |