USA: Oxford Profits Down 27.7 Per Cent
Oxford Industries fourth quarter and full year earnings have been hit by a tough retail climate, the company announced in a statement. For the three months ended June 1, the US-based apparel maker posted net income of $5.3m, or 70 cents a diluted share, down 27.7 per cent from $7.3m, or 94 cents, in the year-ago quarter. Net sales slipped 12.4 per cent to $215.9m, down from $246.4m in the same period last year.
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