NEW YORK — Aggressive asset management, capacity reductions and cost containment allowed Oxford Industries Inc. to report fourth-quarter earnings gains even as sales declined.
For the three months ended May 31, the Atlanta-based manufacturer posted a 7.1 percent increase in net income to $5.6 million, or 74 cents a diluted share. That compares with last year’s fourth-quarter profits of $5.3 million, or 70 cents.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"