Oxford Industries, Inc. (OXM) reported a decline in second-quarter fiscal 2026 net sales, weighed down primarily by a soft performance from its Lilly Pulitzer brand. Still, the apparel company posted a sharp rise in net income, boosted by a tariff-related refund benefit.
For the three months ended August 1, net income totaled $48.967 million, or $3.25 per share, up from $16.692 million, or $1.12 per share, in the year-ago period. This year’s per-share results include a $2.07 impact from the tariff refund.
On an adjusted basis, earnings came in at $1.34 per share, compared with $1.26 per share a year earlier.
Operating income climbed to $68.816 million from $25.411 million in the prior-year quarter. Net sales slipped to $394.376 million from $403.143 million. The Lilly Pulitzer operating group posted net sales of $85.2 million, down from $90.3 million, while the Tommy Bahama operating group generated net sales of $230.9 million, up from $229 million.
The company declared a quarterly dividend of $0.70 per share, payable on October 30 to shareholders of record as of October 16.
Looking ahead, CEO Tom Chubb 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, Oxford now expects net income of $3.07 to $3.47 per share, including $2.07 of tariff refund receivables and related interest. The company had previously guided net income of $1.70 to $2.10 per share.
Adjusted earnings are now projected at $1.60 to $2.00 per share, compared with the prior outlook of $2.30 to $2.70 per share.
Net sales for the full year are anticipated in the range of $1.430 billion to $1.470 billion, down from the earlier projection of $1.475 billion to $1.505 billion.
Oxford Industries reported a net loss of $1.86 per share for fiscal 2025, with adjusted earnings of $2.11 per share, on net sales of $1.478 billion.
For the third quarter of fiscal 2026, the apparel maker expects a net loss of $1.47 to $1.27 per share and an adjusted loss of $1.40 to $1.20 per share, with net sales of $280 million to $300 million.
In the third quarter of fiscal 2025, Oxford Industries posted a net loss of $4.28 per share and an adjusted loss of $0.92 per share, on net sales of $307 million.
Also Read
- Exclusive: Ukraine finance chief warns of tightest budget since war started ahead of ‘very difficult winter’
- The Science Behind Nepal’s Flood Victim Identification: How DNA Analysis Works
- Ruth Bar breaks silence on her 1993 affair with Netanyahu, his early political rise – interview
- PSX inducts 3 Meezan funds for GoP Sukuk proprietary trading – Mettis Global
