Oxford Industries Q2 Net Sales Drop, Expects Q3 Net Loss To Narrow; Cuts Annual Outlook

(RTTNews) - Oxford Industries, Inc. (OXM), a clothing company, reported a drop in net sales for the second quarter of fiscal 2026, hurt mainly by the weak performance of Lilly Pulitzer. However, the apparel maker posted a surge in net income, helped by tariff-related refund impact. For the three-month period to August 1, the company recorded a net income of $48.967 million, or $3.25 per share, compared with $16.692 million, or $1.12 per share in the same period last year. This year's net income per share reflects a $2.07 tariff-related refund impact. Excluding items, earnings stood at $1.34 per share, higher than $1.26 per share in the prior year. Operating income surged to $68.816 million from $25.411 million a year ago. Oxford Industries recorded net sales of $394.376 million, less than $403.143 million in the previous year. Lilly Pulitzer operating group posted net sales of $85.2 million as against last year's $90.3 million. Tommy Bahama operating group registered net sales of $230.9 million, higher than $229 million a year ago. The board will pay a quarterly dividend of $0.70 per share on October 30 to the shareholders of record as of October 16. Looking ahead, Tom Chubb, CEO of Oxford Industries, said: "Tommy Bahama's positive momentum is being offset by softness in other parts of our portfolio, particularly Lilly Pulitzer which we believe is primarily attributable to addressable product and marketing challenges in a fashion merchandising business. The combination of these internal headwinds and ongoing macro-economic consumer pressure has led us to lower our guidance for fiscal 2026." For fiscal 2026, the company now expects net income of $3.07 to $3.47 per share, which includes $2.07 of tariff refund receivables and related interest. The company's previous net profit guidance was $1.70 to $2.10 per share. Excluding items, earnings are now projected to be in the range of $1.60 to $2 per share against the prior outlook of $2.30 and $2.70 per share. Oxford Industries now anticipates net sales of $1.430 billion to $1.470 billion, compared with the earlier expectation of $1.475 billion to $1.505 billion. For fiscal 2025, Oxford Industries had reported a net loss of $1.86 per share, with an adjusted profit of $2.11 per share, on net sales of $1.478 billion. For the third quarter of fiscal 2026, the apparel maker expects net loss of $1.47 to $1.27 per share and adjusted loss of $1.40 to $1.20 per share, with net sales of $280 million to $300 million. For the third quarter of fiscal 2025, Oxford Industries had registered a net loss of $4.28 per share and an adjusted loss of $0.92 per share, with net sales of $307 million.

(RTTNews) - Oxford Industries, Inc. (OXM), a clothing company, reported a drop in net sales for the second quarter of fiscal 2026, hurt mainly by the weak performance of Lilly Pulitzer. However, the apparel maker posted a surge in net income, helped by tariff-related refund impact.

For the three-month period to August 1, the company recorded a net income of $48.967 million, or $3.25 per share, compared with $16.692 million, or $1.12 per share in the same period last year. This year's net income per share reflects a $2.07 tariff-related refund impact.

Excluding items, earnings stood at $1.34 per share, higher than $1.26 per share in the prior year.

Operating income surged to $68.816 million from $25.411 million a year ago. Oxford Industries recorded net sales of $394.376 million, less than $403.143 million in the previous year. Lilly Pulitzer operating group posted net sales of $85.2 million as against last year's $90.3 million. Tommy Bahama operating group registered net sales of $230.9 million, higher than $229 million a year ago.

The board will pay a quarterly dividend of $0.70 per share on October 30 to the shareholders of record as of October 16.

Looking ahead, Tom Chubb, CEO of Oxford Industries, said: "Tommy Bahama's positive momentum is being offset by softness in other parts of our portfolio, particularly Lilly Pulitzer which we believe is primarily attributable to addressable product and marketing challenges in a fashion merchandising business. The combination of these internal headwinds and ongoing macro-economic consumer pressure has led us to lower our guidance for fiscal 2026."

For fiscal 2026, the company now expects net income of $3.07 to $3.47 per share, which includes $2.07 of tariff refund receivables and related interest. The company's previous net profit guidance was $1.70 to $2.10 per share.