Oxford Industries Misses Street 1Q Forecasts

ATLANTA, United States — Oxford Industries Inc. on Tuesday reported fiscal first-quarter earnings of $20.2 million.

The Atlanta-based company said it had net income of $1.21 per share. Earnings, adjusted for one-time gains and costs, came to $1.26 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.

The owner of the Tommy Bahama, Lilly Pulitzer, Ben Sherman, Lanier Clothes and Ben Sherman clothing lines posted revenue of $256.2 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $270.7 million.

For the current quarter ending in August, Oxford Industries expects its per-share earnings to range from $1.35 to $1.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.45.

The company said it expects revenue in the range of $275 million to $285 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $276.7 million.

Oxford Industries expects full-year earnings in the range of $3.65 to $3.80 per share, with revenue ranging from $1.03 billion to $1.05 billion.

Oxford Industries shares have risen 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $65.13, a decline of 18 percent in the last 12 months.