04:26 PM EDT, 09/11/2024 (MT Newswires) -- Oxford Industries ( OXM ) reported fiscal Q2 adjusted EPS late Wednesday of $2.77, down from $3.45 a year earlier.

Analysts polled by Capital IQ expected $3.00.

Net sales for the quarter ended Aug. 3 were $419.9 million, down from $420.3 million a year earlier.

Analysts surveyed by Capital IQ expected $438.2 million.

The company said it expects Q3 adjusted EPS of a break-even to $0.20 on net sales of $310 million to $325 million.

Analysts polled by Capital IQ expected $1.09 and $352.5 million, respectively.

The company now expects fiscal 2024 adjusted EPS of $7.00 to $7.30 on net sales of $1.51 billion to $1.54 billion.

The previous guidance was for adjusted EPS of $8.60 to $9.00 on net sales of $1.59 billion to $1.63 billion.

Analysts expected $8.66 and $1.61 billion, respectively.

The company declared a quarterly dividend of $0.67 per share, payable Nov. 1 to shareholders of record Oct. 18.

The company's shares were falling past 7% in after-hours activity.

Price: 77.54, Change: -6.12, Percent Change: -7.32