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SALES AND EARNINGS RISE AT OXFORD INDUSTRIES

 ATLANTA, July 12 /PRNewswire/ -- Results for the fourth fiscal quarter and the year ended May 28 were reported today by Oxford Industries, Inc. (NYSE: OXM), an Atlanta-based apparel marketing and manufacturing company.
 Sales for fiscal 1993 were $572,869,000, an increase of 8.6 percent from $527,673,000 in the prior fiscal year. For the final quarter, sales were $134,353,000, down by 1.5 percent from $136,371,000 in the prior year's fourth quarter.
 Earnings for the 1993 fiscal year were $14,786,000, up by 18.0 percent from the $12,532,000 earned in the year ended May 29, 1992. In the final quarter, earnings were $3,596,000, up by 11.7 percent from $3,220,000 in the prior year's fourth quarter.
 Earnings per share were $1.70 for the year and $.41 for the final quarter compared to $1.42 and $.36 respectively in the prior year.
 J. Hicks Lanier, chairman of Oxford, said: "We were pleased with our fiscal 1993 results. We had significant gains in market share in our core menswear businesses. Our Lanier Clothes division had a double digit percentage sales increase. In spite of this, our Oxford Shirtings division, with a sales increase in excess of 35 percent, displaced Lanier Clothes as Oxford's largest division. Fiscal 1993 was also a year of solid performance for our Oxford Slacks, Polo for Boys and Renny divisions. Our women's sportswear and dress divisions had modest declines in sales and profits."
 Lanier continued: "Sales to our 50 largest customers grew by 14.6 percent in fiscal 1993. As part of our strategy to concentrate on the larger, more financially stable retailers, sales to all other customers were down by 16.3 percent. While this strategy and intense competitive pressures caused our gross profit as a percent to sales to decline slightly, this was more than offset by declining expenses as a percent to sales."
 Looking ahead to fiscal 1994, Lanier said: "The decision of Sears Roebuck to discontinue their catalog business will cost us approximately $20 million in sales compared to fiscal 1993. In spite of this and the current sluggish economy, we expect to achieve modest sales gains in fiscal 1994 along with gains in earnings."
 In a related announcement, Oxford reported today that its board of directors has declared a cash dividend of $.165 per share on common stock payable Aug. 28 to shareholders of record on Aug. 16. This amount is unchanged from previous levels and is the 133rd consecutive quarterly cash dividend paid since the company became publicly owned in 1960.
 OXFORD INDUSTRIES, INC.
 Consolidated Statement of Earnings
 (Unaudited)
 $ in thousands except 12 mos. ended Qtr. ended
 per share amounts 5/28/93 5/29/92 5/28/93 5/29/92
 Net sales $572,869 $527,673 $134,353 $136,371
 Costs and expenses:
 Cost of goods sold 459,968 420,960 107,293 109,009
 Selling, gen. & admin. 86,098 84,466 20,460 21,455
 Interest 2,263 1,703 556 504
 Total costs & exps. 548,329 507,129 128,309 130,968
 Earns. bef. inc. taxes 24,540 20,544 6,044 5,403
 Income taxes 9,754 8,012 2,448 2,183
 Net earnings $ 14,786 $ 12,532 $ 3,596 $ 3,220
 Net earns. per com. shr. $1.70 $1.42 $0.41 $0.36
 Avg. no. of shares outst. 8,688,015 8,801,920 8,684,242 8,806,000
 Consolidated Balance Sheets
 (Unaudited)
 $ in thousands 5/28/93 5/29/92
 Assets
 Current assets:
 Cash $ 3,254 $ 8,409
 Receivables 68,093 67,158
 Inventories 102,593 82,021
 Prepaid expenses 11,698 9,847
 Total current assets 185,638 167,435
 Property, plant & equipment 31,027 30,754
 Other assets 1,562 1,065
 Total $218,227 $199,254
 Liabilities and Stockholders' Equity
 Current liabilities:
 Notes payable $ 18,500 $ ---
 Trade accounts payable 34,629 38,363
 Accrued compensation 11,304 11,285
 Other accrued expenses 11,072 10,141
 Dividends payable 1,433 1,321
 Income taxes --- 402
 Current maturities of long-term debt 4,865 4,693
 Total current liabilities 81,803 66,205
 Long-term debt, less current maturities 17,788 22,693
 Deferred income taxes 3,304 2,142
 Stockholders' equity 115,332 108,214
 Total $218,227 $199,254
 -0- 7/12/93
 /CONTACT: R. William Lee Jr. of Oxford Industries, 404-653-1420/
 (OXM)


CO: Oxford Industries, Inc. ST: Georgia IN: TEX SU: ERN DIV

BR-BN -- AT013 -- 0647 07/12/93 18:11 EDT
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Date:Jul 12, 1993
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