Oxford Industries Reports Q2 Earnings with Revenue Decline and Revised Guidance
Oxford Industries (OXM) reported a revenue decline of 2.2% in the second quarter, driven by weaker wholesale sales and performance at Lilly Pulitzer. Despite this, adjusted earnings per share increased to $1.34 from $1.26 due to improved gross margins and lower interest costs. GAAP EPS was significantly higher at $3.25, largely influenced by a tariff refund benefit of $2.07 per share. The company revised its full-year sales guidance downward to between $1.43 billion and $1.47 billion due to cautious consumer sentiment and internal brand challenges. Adjusted EPS guidance was also lowered from $2.11 to a range of $1.60–$2.00 for the year. Q3 is expected to show mid-to-low single-digit negative comparable sales, with an adjusted loss per share forecast between $1.40 and $1.20. Oxford Industries also reduced long-term debt by nearly half in one quarter using operating cash flow and tariff refunds.
