Oxford Industries lowered its fiscal 2026 adjusted earnings per share forecast to $1.60 to $2.00, down from a prior range of $2.30 to $2.70, as CEO Thomas Chubb cited continued softness at Lilly Pulitzer and a more promotional posture for the balance of the year. The company now expects full-year revenue between $1.43 billion and $1.47 billion and a low single-digit negative comparable sales decline, compared with its previous outlook of slightly negative to slightly positive. In the fiscal second quarter, Oxford reported consolidated net sales of $394 million, adjusted gross margin expansion of 140 basis points to 63.1%, and adjusted earnings per share of $1.34, while recording a $42 million reduction to cost of goods sold from tariff refunds. Chubb said Lilly Pulitzer's performance remained weak due to a pricing mix shift that moved too much inventory out of entry price points, and the brand will be more promotional until a full assortment reset can be implemented for spring 2027. The company also initiated a broader enterprise review aimed at enhancing operating margins over the next few years, alongside actions including distribution center ramp-up, store fleet optimization, and leadership changes at Southern Tide.
Oxford Industries IncOxford cut its fiscal 2026 adjusted EPS forecast to $1.60-$2.00 from $2.30-$2.70 on Lilly Pulitzer weakness and a more promotional posture.
