Oxford Industries, Inc. (NYSE: OXM) announced today revised expectations for the second quarter ending in December 1, 2000. Consolidated net sales are expected to be approximately $195m versus $219.9m in the comparable quarter last year. Diluted earnings per share are expected to be approximately $0.30 to $0.35 compared to $0.88 in last year's second quarter.

J. Hicks Lanier, chairman and president, said: "A sluggish and highly promotional retail environment has had a significant impact on our second quarter sales and margins. While we anticipated some softening of demand in the second quarter, we have experienced order deferrals and below plan take-outs in many of our in-stock programs with major retailers. Higher operating expenses due to start-up and integration costs for new marketing initiatives have also hurt profitability."

The company is scheduled to release second quarter financial results on Wednesday, December 20, 2000.

About Oxford Industries
Oxford Industries, Inc is a diversified international manufacturer and wholesale marketer of branded and private label apparel for men, women and children. Major licensed brands include Tommy Hilfiger, Nautica, DKNY Kids, Geoffrey Beene, Slates, Oscar de la Renta, Izod Club and Robert Stock. Oxford's private label customers are found in every major channel of distribution including national chains, specialty catalogues, mass merchandisers, department stores, specialty stores and Internet retailers. The company's stock has traded on the NYSE since 1964 under the symbol OXM. For more information visit the company website at www.oxfordinc.com.