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Article: OXFORD EARNINGS SLIDE IN FIRST QUARTER; CHARGES, SOFTNESS IN WOMEN'S WEAR DEPRESS RESULTS BOLSTERED BY TOMMY BAHAMA AND BEN SHERMAN.(Oxford Industries Inc.)
- Article from:
- Daily News Record
- Article date:
- October 4, 2004
- Author:
CopyrightCOPYRIGHT 2004 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ARNOLD J. KARR
NEW YORK -- Its newly acquired businesses continued to prosper, but not quickly enough to prevent Oxford Industries' first-quarter earnings from declining nearly 10 percent.
In the three months ended Aug. 27, net income for the Atlanta-based diversified apparel marketer dropped 9.9 percent to $6.2 million, or 36 cents a diluted share, from $6.8 million, or 42 cents.
The most recent quarter included non-cash charges of 7 cents a share in deferred financing fees and 6 cents in intangible asset amortization costs relating to the acquisitions of Tommy Bahama and Ben Sherman. The 7-cent charge was 2 cents more than originally ...