Oxford Industries Reports Mixed Q2 Results with Sales Decline but Improved Margins
Oxford Industries (NYSE: OXM) reported second-quarter fiscal 2026 results showing mixed performance. While sales declined to $394 million from $403 million in the prior year, and comparable sales fell by 1%, gross margin expanded significantly to 63.1%. Adjusted EBITDA rose to $45 million, and adjusted EPS reached $1.34. The company cited continued weakness at Lilly Pulitzer and a cautious consumer environment as reasons for lowering its full-year outlook. It now expects sales of between $1.43 billion and $1.47 billion and adjusted EPS in the range of $1.60 to $2.00. Oxford plans a major reset of the Lilly Pulitzer product line for spring 2027, along with increased promotions during fiscal 2026. Cash flow improved significantly due to approximately $42 million in tariff refunds and strong operating cash flow of $97 million in the first half of the year. This helped reduce long-term debt from $143 million at the end of Q1 to $73 million.
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