The company now projects fiscal year sales between $1.48 billion and $1.51 billion, narrowing the previous range of $1.48 billion to $1.53 billion. While the sales outlook dimmed, management raised the lower bound of its adjusted earnings per share guidance to a range of $2.30 to $2.70. This update follows a challenging first quarter where profits fell to $15 million from $26.2 million a year earlier, hampered by $11 million in additional tariff costs and LIFO accounting charges.
In section Market Quotes
Oxford Industries Trims Sales Forecast Amid Consumer Spending Slump
Shares of Oxford Industries tumbled 11% in after-hours trading after the apparel company lowered its full-year sales outlook. CEO Tom Chubb cited a combination of geopolitical instability, rising energy costs, and shifting trade policy as primary drivers behind a recent, sustained cooling in discretionary consumer spending.
Internal struggles at the Lilly Pulitzer brand further complicated the quarter, with performance falling below executive expectations. Chubb noted that while marketing and messaging fixes are underway, merchandising improvements will require a longer product development cycle to materialize. Investors reacted sharply to the news, despite the stock having gained 27% year-to-date prior to the announcement. Current quarterly forecasts also trail analyst expectations, as the company predicts sales between $380 million and $400 million, well below the $413.9 million consensus estimate.
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