Oxford Industries up 12% on better-than-expected results, upgrade
Shares of Oxford Industries, Inc. (NYSE: OXM) are advancing swiftly this morning after the private label apparel for men, women, and children reported better-than-anticipated results for its most recent “two month stub period” after Monday’s close and an upgrade by SunTrust Robinson Humphrey to “buy” from “neutral” on encouraging sales trends in its Tommy Bahama and Ben Sherman lines.
The Atlanta, Ga.-based company’s net widened from a year ago due to a more difficult macroeconomic environment, but still managed to beat the Street by a penny. Sales also barely beat. Shares jumped 12%, or $2.86, to $25.39 at 10:10 a.m. ET.
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