The apparel firm now projects annual revenue between $1.43 billion and $1.47 billion, a downward revision from its earlier forecast of up to $1.51 billion. Adjusted earnings per share are expected to land between $1.60 and $2, significantly lower than the previous $2.30 to $2.70 target. While Tommy Bahama managed a marginal 0.8% revenue gain, it could not offset the drag from Johnny Was and other emerging labels.
In section Market Quotes
Oxford Industries Slumps as Lilly Pulitzer Sales Falter
A 19% plunge in after-hours trading greeted Oxford Industries on Thursday after the retailer slashed its annual earnings guidance. The company pointed to persistent headwinds within its Lilly Pulitzer brand, which saw sales drop 5.6% during a second quarter marked by broad declines across its fashion portfolio.
Chief Executive Tom Chubb attributed the Lilly Pulitzer shortfall to marketing miscues and product misalignment. In response, the company has launched a comprehensive internal review aimed at decoupling earnings from historical growth patterns. Investors remain cautious for the current quarter, as Oxford signaled a deeper adjusted loss per share of $1.20 to $1.40, missing the 60-cent loss anticipated by analysts.
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