Reuters
Mar 30, 2009
Oxford Industries posts Q4 loss on charges, slashes div
Reuters
Mar 30, 2009
March 30 (Reuters) - Oxford Industries Inc (OXM.N) posted a fourth-quarter loss, hurt by charges, and the apparel maker declined to give 2009 outlook and halved its dividend to boost liquidity.
![]() Tommy Bahama Swimwear 2009 |
"Our plans for the future incorporate a prudent and cautious view of fiscal 2009," Chief Executive Hicks Lanier said in a statement.
For the fourth quarter ended Jan. 31, the company posted a loss of $281.6 million, or $18.17 a share, compared with a profit of $5.9 million, or 36 cents a share, a year earlier.
Excluding non-cash impairment charges and other items, the company earned 6 cents a share.
The company declined to provide 2009 outlook, citing lack of visibility due to the uncertain economic environment, and halved its quarterly cash dividend to 9 cents a share.
The company, whose brands include Tommy Bahama, Ben Sherman, Ely & Walker, Oxford Golf and Arnold Brant, expects selling, general and administrative expenses to be $40 million lower in fiscal 2009, helped by its cost-cutting measures.
It also sees capital expenditures of $10 million to $12 million for fiscal 2009, compared with $20.7 million last year.
Shares of the Atlanta-based company closed at $6.46 Monday on the New York Stock Exchange.
For related alerts, please double click (Reporting by Renju Jose in Bangalore; Editing by Deepak Kannan)
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