Oxford Industries Inc. (NYSE: OXM) on Wednesday reported that its profit fell 64 percent in its fiscal second quarter, according to Associated Press.
Wall Street Grand is a leading online financial publication. We are pleased to alert investors of stocks that are on the move.
Sign Up for our Free Stock Newsletter
The apparel company, which makes brands such as Tommy Bahama, Oxford Apparel and others, said total sales fell 16 percent to $192.9 million from $230.5 million a year earlier.
Oxford's profit fell to $533,000, or 3 cents per share, for the quarter ended Aug. 1, compared with $1.5 million, or 9 cents per share, in the prior year.
Excluding the impact of restructuring and several other charges, the company earned 30 cents per share for the quarter, down from 37 cents per share in the prior year.
Analysts polled by Thomson Reuters expected the cmpany to earn 7 cents per share for the quarter on revenue of $189.9 million. Analyst expectations typically exclude one-time items.
For the full 2009 fiscal year, the company said it expects adjusted earnings of 90 cents per share on revenue of $765 to $780 million.
Analysts expect the company to earn 67 cents per share on revenue of $794.4 million.
Shares rose 92 cents, or 6.5 percent, to $15.02 in after-hours trading following the release of the earnings report. The stock gained 58 cents, or 4.3 percent, to a close at $14.10 in the regular session.
Sign up for Today for our free Wall Street Grand newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Wall Street Grand
Wall Street Grand is the best investor relations company on the web. From Research Reports to Stock Profiles, we give you everything you need to make the best investment decisions daily. Each of our Featured Investment Opportunities hold premium characteristics to succeed even our own expectations making us the best kept secret of Wall Street.
To feature a company on our web site please contact us at the email listed below.
Wall Street Grand's stock profiles are intended to be stock ideas, NOT recommendations. Please do your own research before investing. Please click here to read the full disclaimer.
