Oxford Industries Sees 2012 Adjusted EPS of $2.70-2.80
For fiscal year 2012, which ends on February 2, 2013, Oxford Industries, Inc. (NYSE: OXM) expects solid sales and earnings growth, with sales growing at a slightly faster pace than earnings due to the investments described above. The Company expects net sales of $840 million to $855 million in fiscal 2012 compared to $758.9 million in fiscal 2011.
Adjusted earnings per diluted share are expected to be between $2.70 and $2.80 excluding approximately $9 million in anticipated charges associated with refinancing the senior secured notes and approximately $2.4 million associated with a change in the fair value of contingent consideration. On a U.S. GAAP basis, earnings per diluted share are expected to be between $2.26 and $2.36.
The earnings estimates above include the impact of approximately $12 million of expenses associated with the Tommy Bahama Asian roll-out and the New York store opening, with approximately $2 million of these costs expected to occur in the first quarter of fiscal 2012.
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