Correction: Earns-Oxford Industries story
ATLANTA (AP) — In a story Aug. 31 about Oxford Industries Inc.’s quarterly results — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that the company owns Ben Sherman. Oxford sold the Ben Sherman clothing line in July 2015.
A corrected version of the story is below:
Oxford Industries tops Street 2Q forecasts
Oxford Industries posts 2Q profit, results top Street expectations
ATLANTA (AP) — Oxford Industries Inc. (OXM) on Wednesday reported fiscal second-quarter net income of $23.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Atlanta-based company said it had profit of $1.44. Earnings, adjusted for amortization costs and non-recurring costs, were $1.48 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.
The owner of the Tommy Bahama, Lilly Pulitzer and Lanier Clothes clothing lines posted revenue of $283 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $273.9 million.
For the current quarter ending in November, Oxford Industries expects its results to range from a loss of 5 cents per share to earnings of 5 cents per share.
The company said it expects revenue in the range of $220 million to $230 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $218.3 million.
Oxford Industries expects full-year earnings in the range of $3.65 to $3.80 per share, with revenue ranging from $1.03 billion to $1.05 billion.
Oxford Industries shares have decreased 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $62.41, a drop of 26 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OXM at http://www.zacks.com/ap/OXM
Keywords: Oxford Industries, Earnings Report