Shares of Oxford Industries (NYSE: OXM) plummeted 10.53% in after-hours trading on Wednesday following the release of the company's first-quarter earnings report and disappointing forward guidance. The significant drop comes despite the company meeting expectations for the quarter.

Oxford Industries reported first-quarter adjusted earnings per share of $1.82, in line with analyst estimates. Revenue for the quarter came in at $392.86 million, surpassing the expected $384.77 million. However, the company's outlook for the future painted a less optimistic picture, triggering the steep sell-off.

The apparel company drastically lowered its full-year 2025 adjusted EPS guidance to a range of $2.80 to $3.20, falling well short of the consensus estimate of $4.35. Additionally, Oxford Industries provided second-quarter EPS guidance of $1.05 to $1.25, significantly below the $2.20 that analysts were expecting. This gloomy outlook suggests that the company anticipates considerable challenges in the coming quarters, leading investors to reassess their positions and driving the stock price down.