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Shares of Tommy Bahama parent fall more than 6% after sales miss

Shares of Oxford Industries Inc. OXM, +2.71% fell more than 6% late Tuesday after the guardian corporate of apparel manufacturers such as Tommy Bahama and Lilly Pulitzer reported adjusted profits above Wall Street expectancies but neglected on sales. Oxford stated it earned $20.6 million, or $1.23 a share, in the first quarter, when compared with $17.2 million, or $1.03 a share, in the year-ago length. Adjusted for one-time items, the corporate earned $1.28 a share, when compared with $1.12 a 12 months ago. Revenue rose to $272.6 million, when compared with $272.four million a 12 months ago. Analysts polled through FactSet had anticipated adjusted profits of $1.22 a share on sales of $274 million. Oxford stated it expects second-quarter sales to develop between $300 million and $310 million, and altered second-quarter EPS between $1.75 and $1.85. The corporate has raised its outlook for fiscal 2018, saying it expects adjusted EPS between $four.45 and $four.65 for the 12 months. Full-year web sales are noticed between $1.125 billion and $1.145 billion. Shares had ended he regular consultation up 2.7%.