Oxford Industries (NYSE: OXM) saw its shares plummet 19.06% in after-hours trading following the release of its third-quarter financial results, which included a significant net loss and impairment charges.
The company reported a Q3 adjusted EPS of -$0.92, slightly better than the estimated -$0.78, but still reflecting a substantial loss. Revenue came in at $307 million, narrowly missing the $308.7 million estimate. The results included $61 million in noncash impairment charges related to the Johnny Was brand, which significantly impacted the bottom line. Additionally, Oxford Industries revised its full-year outlook downward, signaling weaker-than-expected performance ahead.
The company cited a highly competitive and promotional retail environment, as well as increased tariffs, as factors affecting sales and margins. These challenges, combined with the impairment charges, contributed to the sharp decline in investor confidence.
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