As the Q1 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the consumer discretionary - apparel and accessories industry, including Oxford Industries (NYSE: OXM) and its peers.

The Consumer Discretionary sector, by definition, is made up of companies selling non-essential goods and services. When economic conditions deteriorate or tastes shift, consumers can easily cut back or eliminate these purchases. For long-term investors with five-year holding periods, this creates a structural challenge: the sector is inherently hit-driven, with low switching costs and fickle customers. As a result, only a handful of companies can reliably grow demand and compound earnings over long periods, which is why our bar is high and High Quality ratings are rare. Apparel and accessories companies design, brand, and distribute clothing, handbags, jewelry, and related lifestyle products, often spanning multiple price tiers. Tailwinds include premiumization trends (consumers trading up for perceived quality), international expansion into emerging markets, and growing digital commerce penetration. However, these businesses face headwinds from highly cyclical demand, intense promotional environments, and counterfeit competition undermining brand equity. Tariff volatility and sourcing concentration in a handful of countries add risk. Additionally, rapidly changing fashion cycles and the rise of ultra-fast-fashion digital competitors compress product life cycles and make demand forecasting exceptionally difficult.

The 15 consumer discretionary - apparel and accessories stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 1.4% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 5.4% on average since the latest earnings results.

Oxford Industries (NYSE: OXM)

The parent company of Tommy Bahama, Oxford Industries (NYSE: OXM) is a lifestyle fashion conglomerate with brands that embody outdoor happiness.

Oxford Industries reported revenues of $391.4 million, flat year on year. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with EPS guidance for next quarter missing analysts’ expectations and full-year revenue guidance slightly missing analysts’ expectations.

Tom Chubb, Chairman and CEO, commented, “We delivered net sales in line with our expectations, led by mid-single-digit positive comps at Tommy Bahama, and adjusted EPS above our guidance range, fueled by better-than-expected gross margins. Our overall performance also reflects softer than expected results at Lilly Pulitzer and a challenging environment marked by weak consumer sentiment and higher energy prices. At the same time, we made important progress during the first quarter on several strategic initiatives in our merchandising and marketing functions that we believe will enhance the operating performance of each of our brands over the long term."

Oxford Industries delivered the weakest guidance update and weakest full-year guidance update of the whole group. The market seems disappointed with the results as the stock is down 16.2% since reporting and currently trades at $36.25.

Read our full report on Oxford Industries here, it’s free.

Best Q1: Movado (NYSE: MOV)

With its watches displayed in 20 museums around the world, Movado (NYSE: MOV) is a watchmaking company with a portfolio of watch brands and accessories.

Movado reported revenues of $142.4 million, up 8.1% year on year, outperforming analysts’ expectations by 5.4%. The business had a stunning quarter with a beat of analysts’ EPS estimates.

The market seems happy with the results as the stock is up 29.1% since reporting. It currently trades at $38.49.

Is now the time to buy Movado? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: Under Armour (NYSE: UAA)

Founded in 1996 by a former University of Maryland football player, Under Armour (NYSE: UAA) is an apparel brand specializing in sportswear designed to improve athletic performance.

Under Armour reported revenues of $1.17 billion, flat year on year, in line with analysts’ expectations. It was a disappointing quarter as it posted full-year EPS guidance missing analysts’ expectations and a significant miss of analysts’ adjusted operating income estimates.

Interestingly, the stock is up 11.7% since the results and currently trades at $6.77.

Read our full analysis of Under Armour’s results here.

Columbia Sportswear (NASDAQ: COLM)

Originally founded as a hat store in 1938, Columbia Sportswear (NASDAQ: COLM) is a manufacturer of outerwear, sportswear, and footwear designed for outdoor enthusiasts.

Columbia Sportswear reported revenues of $779 million, flat year on year. This print topped analysts’ expectations by 2.6%. It was a very strong quarter as it also put up EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

The stock is up 3.4% since reporting and currently trades at $62.97.

Read our full, actionable report on Columbia Sportswear here, it’s free.

Kontoor Brands (NYSE: KTB)

Founded in 2019 after separating from VF Corporation, Kontoor Brands (NYSE: KTB) is a clothing company known for its high-quality denim products.

Kontoor Brands reported revenues of $613.3 million, up 45% year on year. This number missed analysts’ expectations by 21.3%. It was a slower quarter as it also recorded a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.

Kontoor Brands achieved the fastest revenue growth but had the weakest performance against analyst estimates among its peers. The stock is up 14.3% since reporting and currently trades at $85.67.

Read our full, actionable report on Kontoor Brands here, it’s free.

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