ATLANTA (AP) — Oxford Industries Inc. (OXM) on Wednesday reported fiscal first-quarter profit of $21.7 million.
The Atlanta-based company said it had profit of $1.29 per share. Earnings, adjusted for non-recurring costs, came to $1.30 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The owner of the Tommy Bahama, Lilly Pulitzer and Southern Tide clothing lines posted revenue of $282 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $277.3 million.
For the current quarter ending in August, Oxford Industries expects its per-share earnings to range from $1.80 to $1.90. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.35.
The company said it expects revenue in the range of $300 million to $310 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $283.6 million.
Oxford Industries expects full-year earnings in the range of $4.45 to $4.65 per share, with revenue ranging from $1.14 billion to $1.16 billion.
Oxford Industries shares have decreased 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $68.80, a decrease of 26% in the last 12 months.