By Kelly Cloonan

Oxford Industries cut its full-year profit outlook as it faces an estimated $40 million in additional tariff costs.

The owner of Tommy Bahama and Lilly Pulitzer said Wednesday it now expects adjusted per-share earnings of $2.80 to $3.20, down from a prior projection of $4.60 to $5.00. Analysts were looking for $4.35.

The updated guidance includes $40 million in additional tariff costs, or $2.00 per share on an after-tax basis, the company said.

Chief Executive Tom Chubb said the company has made progress in diversifying and shifting its supply chain to reduce exposure to future tariff developments. "We will continue to focus on what we can control, including executing our strategy and servicing our customers," he said.

Oxford now expects revenue of about $1.48 billion to $1.52 billion for the full year, down from its previous outlook of $1.49 billion to $1.53 billion. Analysts polled by FactSet expect $1.49 billion.

For the first quarter, the company posted a profit of $26.2 million, or $1.70 a share, down from $38.4 million, or $2.42 a share, a year earlier. The company said it incurred $1 million in additional charges for cost of goods sold due to U.S. tariffs implemented in the quarter.

Adjusted earnings per share were $1.82, in line with analyst estimates.

Sales fell 1.3% to $392.9 million. Analysts polled by FactSet expected $384.8 million.

Tommy Bahama sales fell 4.2% while Johnny Was sales declined 15%. Those losses were partially offset by sales growth of 12% for Lilly Pulitzer and 3.8% for the company's emerging brands.

For the current quarter, the company guided for revenue of $395 million to $415 million, compared to analysts' expectations for $409.4 million. The company anticipates adjusted earnings per share of $1.05 to $1.25, behind analyst estimates of $2.20.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 11, 2025 16:30 ET (20:30 GMT)

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