Restructuring in its Ben Sher-man business, and lower sales at all business units, dragged down Oxford Industries Inc.’s second-quarter profits by 63.8 percent.
The company reported late Wednesday that, for the three months ended Aug. 1, net income fell to $533,000, or 3 cents a diluted share, from $1.5 million, or 9 cents, in the year-ago quarter. The results included a 6 cents a diluted share restructuring charge. Excluding the charge and other items, such as an 8 cents a diluted share charge for the writeoff of unamortized deferred financing costs connected with the retirement of its senior unsecured notes in June 2009, adjusted diluted earnings per share were 30 cents versus adjusted EPS of 37 cents in the prior-year quarter.
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