Oxford Industries posted GAAP EPS of $3.25, up from $1.12 a year earlier, including a $2.07 tariff refund impact.
Net sales fell 2.2% to $394.4 million in the second quarter ended Aug. 1, with Tommy Bahama up 0.8% to $230.9 million.
Gross margin widened 12.4 percentage points to 73.8%, driven primarily by $42 million of tariff refund claims recognized in cost of goods sold.
Borrowings outstanding dropped to $73 million at quarter-end from $143 million at the end of the first quarter, aided by $97 million operating cash flow.
Updated fiscal 2026 outlook
Guidance was cut: fiscal 2026 net sales are seen at $1.43 billion-$1.47 billion, and adjusted EPS at $1.60-$2.00.
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