Why Oxford Industries (OXM) Stock Closed Higher Today

NEW YORK (TheStreet) -- Shares of Oxford Industries Inc. (OXM) closed up 5.41% to $72.47 on very heavy trading volume. 

After the market closed, the apparel company announced financial results for its fiscal 2014 first quarter ended May 3.

Consolidated net sales increased 10% to $257.6 million compared to $234.2 million in the first quarter of fiscal 2013. 

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On an adjusted basis, earnings grew 15% to 94 cents per share in the first quarter of fiscal 2014 compared to 82 cents in the first quarter of fiscal 2013. reported  The 94 cents was 7 cents better than the analyst estimate of 87 cents.

On a GAAP basis, earnings grew to 91 cents per share in the first quarter of fiscal 2014 compared to 82 cents in the same period of the prior year.

The company reaffirmed its fiscal year 2014 guidance.

Shares of Oxford Industries are down -1.88% to $71.11 in after-hours trade.

OXM Chart

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