Oxford Industries (NYSE:OXM) shares jumped more than 24% on Thursday after the lifestyle apparel group reported better-than-expected second-quarter earnings even as tariffs weighed on sales.
The company, owner of Tommy Bahama, Lilly Pulitzer, and Johnny Was, reported adjusted earnings of $1.26 per share, topping expectations of $1.18. Revenue fell 4% year-over-year to $403.1 million, slightly below consensus of $406.14 million but within guidance.
Gross margin was 61.7%, down from 63.3% last year but better than anticipated, as tariffs added roughly $9 million in costs. By brand, Tommy Bahama sales dropped 6.6% to $229 million, Lilly Pulitzer declined 1.5% to $90.3 million, and Johnny Was fell 9.7% to $45.4 million. The Emerging Brands segment grew 17% to $38.5 million.
Oxford reaffirmed its full-year outlook, forecasting revenue of $1.475 billion to $1.515 billion and adjusted EPS of $2.80 to $3.20. Management said it had offset about half of its $80 million tariff exposure through accelerated receipts and sourcing changes.
