USA: Oxford Industries Says Q4 Earnings Up 7.1 Per Cent
Clothing maker Oxford Industries Inc today said first quarter net earnings increased 7.1 per cent to $5.6 million from $5.3 million on consolidated net sales which fell 11.2 per cent to $191.7 million from $215.9 million last year. For the full year, consolidated net sales declined 16.6 per cent to $677.3 million from $812.5 million last year reflecting continuing economic uncertainties and weak consumer demand for apparel. Net earnings dropped 31.1 per cent to $10.6 million from $15.3 million.
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