SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of Report(Date of earliest event reported)March 16, 1998
--------------
OXFORD INDUSTRIES, INC.
- -----------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Georgia 1-4365 58-0831862
- -------------------------------- ---------- ---------------
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification Number)
222 Piedmont Avenue, N.E., Atlanta, Georgia 30308
--------------------------------------------------
(Address of principal executive offices)
(Zip Code)
(404) 659-2424
----------------------------------------------------
(Registrant's telephone number, including area code)
Not Applicable
- -----------------------------------------------------------------
(Former name, former address and former fiscal year, if changed
since last report.)
INFORMATION TO BE INCLUDED IN REPORT
-------------------------------------
Item 5. Other Events
- --------------------
The Registrant issued the following press release on March 16, 1998:
Oxford Industries, Inc.
222 Piedmont Avenue, N.E.
Atlanta, Georgia 30308
FOR IMMEDIATE RELEASE
----------------------
March 16, 1998
Contact: Ben B. Blount, Jr.
(404) 653-1433
(Editor: Stock of Oxford Industries, Inc. is traded on the
New York Stock Exchange with the symbol OXM.)
OXFORD INDUSTRIES ANNOUNCES EXPIRATION OF
POLO RALPH LAUREN BOYS LICENSES ON MAY 31, 1999
----------------------------------------------
ATLANTA, GA. -- Oxford Industries, Inc., the Atlanta-based
apparel marketing and manufacturing company, today announced
that its Polo/Ralph Lauren for Boys licenses which expire May
31, 1999 will not be renewed due to Polo/Ralph Lauren, L.P.'s
strategic consolidation of all children's apparel licenses.
Oxford will continue shipments through the Summer 1999 season.
S. Schwab & Company, the consolidating licensee, will market
and ship the Fall 1999 season. A seamless transition of the
business is anticipated. Some assets of the business will be
sold by Oxford to Schwab.
The transition coincides with the beginning of Oxford's fiscal
year 2000. No impact on sales or earnings is expected in
Oxford's fiscal years 1998 or 1999. The Polo/Ralph Lauren
business accounts for approximately 10% of Oxford's sales and
10% of operating profits.
J. Hicks Lanier, Oxford's Chairman and Chief Executive
Officer, stated, This has been a successful licensed business
with us for 19 years. We are disappointed in Polo's
decision, but understand the potential benefits of a license
consolidation. Fortunately, the timing of the decision
provides us the opportunity to redeploy our resources in
existing and new ventures before our fiscal 2000. Despite
this situation, we continue to be committed to our strategy of
acquiring licenses from successful designers.
Oxford's sales were $728,748,000 in its latest reported 12
months.
Safe Harbor Statement. This press release contains certain
forward-looking statements with respect to anticipated future
results which are subject to risks and uncertainties that
could cause actual results to differ materially from
anticipated results. These risks and uncertainties include,
but are not limited to, general economic and apparel business
conditions, continued retailer and consumer acceptance of
company products, and global manufacturing costs.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
OXFORD INDUSTRIES, INC.
-----------------------
(Registrant)
/s/Ben B. Blount, Jr.
--------------------------
Date: March 16, 1998 Ben B. Blount, Jr.
--------------- Chief Financial Officer