NEW YORK — Oxford Industries Inc. late Tuesday reported lower first-quarter results that were in line with previously lowered guidance and, in light of growing economic uncertainty, further lowered expectations for the remainder of the year.
Net income dropped 44.3 percent to $9.5 million, or 59 cents a diluted share, during the three months ended May 3, from $17.1 million, or 95 cents, in the prior-year quarter. In February, Oxford lowered guidance for the first quarter to earnings of 55 cents and 60 cents a diluted share.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)