Oxford Industries rises as shopping boom pushes full-year outlook

Oxford Industries

08/06/2022 23:39

** Shares of Oxford Industries  OXM.N  rise 6.3% to $97.7 in
extended trading after the luxury apparel maker raises full-year
guidance on resumption of work, travel
    ** After beating Q1 estimates, OXM forecasts Q2 profit
between $3.30 and $3.50 per share on net sales of $350
million-$370 million, both largely above average analysts'
estimates as per Refinitiv IBES data
    ** Luxury retailers like G-III Apparel Group  GIII.O ,
Lululemon Athletica  LULU.O  also raised outlook this month on
expectations of strong sales throughout the year
    ** Up to Wednesday's close, OXM stock fell 9.5% YTD, while
G-III Apparel fell 6.3%, Ralph Lauren dropped 12.14% and
Lululemon lost 21.4%

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((nandhini.srinivasan@thomsonreuters.com))