05:00 PM EDT, 06/12/2024 (MT Newswires) -- Oxford Industries ( OXM ) reported fiscal Q1 adjusted EPS late Wednesday of $2.66, down from $3.78 a year earlier.

Analysts polled by Capital IQ expected $2.68.

Net sales for the quarter ended May 4 were $398.2 million, down from $420.1 million a year earlier.

Analysts surveyed by Capital IQ expected $404.8 million.

The company said it expects Q2 adjusted EPS of $2.95 to $3.15 on net sales of $430 million to $450 million.

Analysts polled by Capital IQ expected $3.58 and $452 million, respectively.

The company now expects fiscal 2024 adjusted EPS of $8.60 to $9.00 and net sales of $1.59 billion to $1.63 billion.

The previous guidance was for adjusted EPS of $9.30 to $9.70 and net sales of $1.63 billion to $1.67 billion.

Analysts expected $9.47 and $1.64 billion, respectively.

The company declared a quarterly dividend of $0.67 per share, payable Aug. 2 to shareholders of record July 19.

The company's shares were falling past 3% in after-hours activity.

Price: 97.60, Change: -3.42, Percent Change: -3.39