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Article: OXFORD PROFITS RISE IN QUARTER, YEAR; TOMMY BAHAMA BUSINESS CONTINUES TO INCREASE, BUT BEN SHERMAN SALES DECLINE IN PERIOD.
- Article from:
- Daily News Record
- Article date:
- August 14, 2006
CopyrightCOPYRIGHT 2006 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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ATLANTA - Driven by continued strength in its Tommy Bahama business but hampered by a tough quarter in its Menswear Group, Oxford Industries reported an increase in earnings in the fourth quarter.
For the period ended June 2, earnings from continuing operations rose 7 percent to $18.1 million from $16.9 million in the 2005 fourth quarter, and diluted earnings from continuing operations per common share rose 6 percent to $1.02 from 96 cents. Sales fell 6 percent to $287.6 million from $306.2 million.
The divestiture of Oxford's Womenswear Group, completed June 2, resulted in an after-tax gain on the sale of 58 cents per common share in the period.
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