Oxford Industries (NYSE:OXM) shares fell 14.3% in pre-market trading to $31.40 after the apparel company lowered its full-year earnings outlook alongside its second-quarter fiscal 2026 results.
Adjusted earnings per share for the quarter were $1.34, slightly above the consensus estimate of $1.30. Revenue reached $394.4 million, also marginally ahead of analyst expectations.
The company’s forward guidance, however, came in below analyst forecasts for both the third quarter and the full fiscal year.
Oxford Industries Forecasts Q3 Loss
Oxford Industries expects third-quarter revenue of between $280 million and $300 million, approximately 7.5% below analyst projections.
The company forecast an adjusted loss of between $1.40 and $1.20 per share for the quarter, compared with the consensus estimate for a loss of $0.59 per share.
For the full fiscal year, Oxford Industries lowered its adjusted earnings per share guidance to between $1.60 and $2.00, compared with a previous analyst consensus estimate of $2.47.
Lilly Pulitzer Performance Weighs on Outlook
CEO Tom Chubb attributed the revised outlook partly to continued weakness at the Lilly Pulitzer brand, including product and marketing issues that the company believes can be addressed.
Oxford Industries also cited softer consumer sentiment and higher travel costs as factors affecting discretionary spending.
The company plans to increase promotional activity at Lilly Pulitzer in an effort to support demand and limit the accumulation of slower-moving inventory.
OXM Shares Move Toward 52-Week Low
Broader U.S. equity markets showed limited movement alongside the decline in Oxford Industries shares, with the S&P 500 approximately unchanged and the Nasdaq recording a marginal gain.
Apparel companies including PVH Corp., G-III Apparel Group and Kontoor Brands did not experience comparable moves, according to the supplied report.
Oxford Industries shares traded at $31.40 following the 14.3% pre-market decline, approaching their cited 52-week low of $30.57.