April 3-- The Atlanta Business Chronicle reports on a profitable year for Oxford Industries which has a Distribution Center in Lyons.
The Atlanta-based clothing company reported its profit was up 6 percent in 2012, a year also marked by the poor performance of its Ben Sherman brand.
- Sales: $855.5 million, up 13 percent
- Net Income: $31.1 million, up 6 percent
- Earnings Per Share: $1.89, up 7 percent
J. Hicks Lanier, Oxford Industries chairman and CEO:
“We are very pleased with the 2012 performance of our two largest brands, Tommy Bahama and Lilly Pulitzer. We launched Tommy Bahama’s international expansion in 2012 and we now operate nine stores in the Asia-Pacific region, including our newest in Yokohama, Japan... Needless to say, Ben Sherman’s operating results in fiscal 2012 were extremely disappointing. Missteps in the execution of our strategy coupled with a difficult consumer market in the UK and Europe have put pressures on both our top line and gross margins. We are taking specific actions to stabilize and improve this business, but the impact of these challenges is expected to continue into 2013, particularly in the first half.”