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Oxford Industries misses Street 4Q forecasts

ATLANTA (AP) _ Oxford Industries Inc. (OXM) on Thursday reported fiscal fourth-quarter profit of $10 million.

On a per-share basis, the Atlanta-based company said it had profit of 60 cents. Earnings, adjusted for one-time gains and costs, were 63 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The owner of the Tommy Bahama, Lilly Pulitzer and Southern Tide clothing lines posted revenue of $261 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $267.2 million.

For the year, the company reported profit of $52.5 million, or $3.15 per share. Revenue was reported as $1.02 billion.

For the current quarter ending in May, Oxford Industries expects its per-share earnings to range from $1 to $1.10. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.31.

The company said it expects revenue in the range of $270 million to $280 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $274.1 million.

Oxford Industries expects full-year earnings in the range of $3.50 to $3.70 per share, with revenue ranging from $1.08 billion to $1.1 billion.

Oxford Industries shares have fallen 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $53.46, a drop of 26 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OXM at https://www.zacks.com/ap/OXM


Keywords: Oxford Industries, Earnings Report