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Investing.com -- Oxford Industries, Inc. (NYSE:OXM) saw its shares plummet 10.3% after the apparel company reported first quarter earnings that beat revenue expectations but fell short on earnings per share (EPS). More importantly, the company’s guidance for the upcoming quarter and full fiscal year came in well below analyst estimates, driving the sharp stock decline.
The owner of brands like Tommy Bahama and Lilly Pulitzer reported Q1 adjusted EPS of $1.82, missing the analyst consensus of $1.98. Revenue for the quarter was $393 million, surpassing expectations of $383.54 million and down 1.3% YoY.
However, Oxford’s outlook for Q2 and fiscal year 2025 disappointed investors. The company forecasts Q2 EPS of $1.05-$1.25, far below the $2.20 consensus. Q2 revenue guidance of $395-415 million also fell short of the $409.4 million estimate. For the full fiscal year 2025, Oxford projects EPS of $2.80-$3.20, significantly lower than the $4.35 analyst expectation.
"We were able to deliver sales and adjusted EPS within our guidance ranges for the first quarter despite uncertain tariff and trade dynamics that are significantly impacting our industry and operating landscape," said Tom Chubb (NYSE:CB), Chairman and CEO of Oxford Industries.
The company cited $40 million in additional tariff costs for fiscal 2025, equating to $2.00 per share after tax, as a major factor in its reduced guidance. For Q2 alone, Oxford expects $15 million in extra tariff costs, or $0.75 per share.
Despite the headwinds, Chubb expressed confidence in the company’s ability to navigate the challenges, stating, "We believe that our portfolio of differentiated lifestyle brands and strong balance sheet will enable us to navigate this uncertain period, manage the business to drive long-term shareholder value and provide an opportunity to gain market share in the current environment."
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