Ongoing problems at Ben Sherman, complicated by the disruptions of Hurricane Sandy, led Oxford Industries Inc. to report third-quarter earnings that missed estimates, lower full-year guidance and terminate Ben Sherman chief executive officer Pan Philippou.
During the three months ended Oct. 27, net income at the Atlanta-based owner of Tommy Bahama and Lilly Pulitzer expanded 85.3 percent to $3 million, or 18 cents a diluted share, from $1.6 million, or 10 cents, in the year-ago period. Adjusted earnings per share hit 19 cents, 2 cents below Wall Street’s expectations. Despite double-digit contraction at Ben Sherman and the Lanier Clothes unit, sales grew 6.5 percent to $181.4 million from $170.3 million. Gross margin moved to 53.4 percent of sales from 52.1 percent a year ago.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)