USA: Apparel Maker Oxford Posts Profit Jump
Apparel maker Oxford Industries Inc on Monday revealed a 44 per cent jump in first quarter net profit despite falling sales and forecast a significant rebound in full-year earnings due to "aggressive" inventory management. The Georgia-based company, which produces clothing for leading brands including Nautica and Tommy Hilfiger, said net profit rose to $4.5 million, or 60 cents per share, from $3.1m, or 42 cents a share, in the year-ago period.
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