UNITED STATES
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

Oxford Industries, Inc.

Georgia (State or other jurisdiction of incorporation)		001-04365 (Commission File Number)		58-0831862 (IRS Employer Identification No.)

222 Piedmont Avenue, N.E., Atlanta, GA (Address of principal executive offices)		30308 (Zip Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 7.01 Regulation FD Disclosure.

On November 8, 2007, Oxford Industries, Inc. (the “Company”) issued a press release (i) announcing that the Company’s Board of Directors has authorized the repurchase by the Company of up to $60 million of its outstanding common stock, replacing the previously announced stock repurchase authorization, (ii) announcing that the Company expects to enter into an accelerated share repurchase agreement on November 8, 2007 with Bank of America, N.A. for the full amount of the authorization, (iii) reaffirming the Company’s earnings guidance for the Company’s second quarter ending November 30, 2007 and the two month period ending February 2, 2008, and (iv) updating the Company’s guidance for net sales for the Company’s second quarter and the two month period ending February 2, 2008. The Company’s press release is incorporated herein to this Form 8-K by reference and a copy of the press release is furnished as Exhibit 99.1 hereto.

The information contained in this Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, nor shall it be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

Various statements in this Form 8-K, and in the exhibit attached hereto, constitute forward-looking statements about future events. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. The Company intends for all such forward-looking statements contained in this Form 8-K, and in the exhibit attached hereto, to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Important assumptions relating to these forward-looking statements include, among others, assumptions regarding general and regional economic conditions, including those that affect consumer demand and spending, demand for the Company’s products, timing of shipments to the Company’s wholesale customers, expected pricing levels, competitive conditions, the timing and cost of planned capital expenditures, expected synergies in connection with acquisitions and joint ventures, and the results of the expected share repurchase transaction. Forward-looking statements reflect the Company’s current expectations, based on currently available information, and are not guarantees of performance. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond the Company’s ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to the Company or that the Company currently deems to be immaterial, materializes, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Investors are encouraged to review the information in the Company’s Form 10-K for the fiscal year ended June 1, 2007 under the heading “Risk Factors” (and those described from time to time in the Company’s future reports filed with the Securities and Exchange Commission), which contains additional important factors that may cause the Company’s actual results to differ materially from those projected in any forward-looking statements. The Company disclaims any intention, obligation or duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Item 9.01 Financial Statements and Exhibits.

     (d) Exhibits.

EXHIBIT
NUMBER
99.1		Press Release of Oxford Industries, Inc., dated November 8, 2007.

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.
November 8, 2007		/s/ Thomas E. Campbell
		Name: Thomas E. Campbell
		Title: Vice President

Exhibit 99.1

Oxford Industries, Inc. Press Release

Company Contact:
     Anne M. Shoemaker
     T (404) 653-1455
     F (404) 653-1545
     ashoemaker@oxfordinc.com

FOR IMMEDIATE RELEASE
  November 8, 2007

Oxford Industries Announces $60 Million Accelerated Share Repurchase

- Reaffirms Earnings Guidance -

ATLANTA, GA. — Oxford Industries, Inc. (NYSE:OXM) announced today that its Board of Directors has authorized the repurchase by the Company of up to $60 million of its outstanding common stock, replacing the Company’s previously announced stock repurchase authorization. The Company expects to enter into an accelerated share repurchase agreement today with Bank of America, N.A. for the full amount of the $60 million authorization. The $60 million represents approximately 14% of the Company’s current market capitalization.

“We believe in the strength of our company and that the repurchase of shares at this time is an excellent opportunity to deliver value to our shareholders,” commented J. Hicks Lanier, Chairman and Chief Executive Officer of Oxford Industries, Inc. “At the same time, we remain committed to building a portfolio of lifestyle brands and this share repurchase will not prevent us from pursuing future transactions aligned with this strategy.”

The specific number of shares to be repurchased under the agreement with Bank of America generally will be based on the volume weighted average share price of the Company’s common shares during a specified calculation period. During the share repurchase program, a price cap provision will establish the maximum price payable by the Company for the shares to be repurchased under the agreement. The program is expected to take up to seven months to complete. The Company will fund the share repurchase through borrowings under its U.S. revolving credit facility.

The Company reaffirmed its earnings guidance for the second quarter ending November 30, 2007 and the two month period ending February 2, 2008. Earnings for each of those periods, without giving effect to the share repurchase, are expected to be flat to slightly higher than the comparable periods last year. For the second quarter of fiscal 2007 and for the two months ended February 2, 2007 diluted earnings from continuing operations per common share were $0.68 and $0.16 respectively. Due to the anticipated timing of the delivery of shares, the Company expects the share repurchase transaction to have minimal impact on earnings per share in the eight month period ended February 2, 2008.

The Company updated its guidance for net sales for the second quarter ending November 30, 2007 and the two month period ending February 2, 2008. Net sales are now expected to be slightly below the comparable periods last year. For the second quarter of fiscal 2007 and the two months ended February 2, 2007, net sales were $291.0 million and $164.4 million, respectively.

About Oxford:

Oxford Industries, Inc. is a producer and marketer of branded and private label apparel for men, women and children. Oxford provides retailers and consumers with a wide variety of apparel products and services to suit their individual needs. Oxford’s brands include Tommy Bahama^®, Indigo Palms^®, Island Soft^®, Ben Sherman^®, Arnold Brant^®, Ely & Walker^® and Oxford Golf^®. The Company also holds exclusive licenses to produce and sell certain product categories under the Tommy Hilfiger^®, Nautica^®, Geoffrey Beene^®, Dockers^®, Kenneth Cole^® and Oscar de la Renta^® labels. Oxford’s wholesale customers are found in every major channel of distribution, including national chains, specialty catalogs, mass merchants, department stores, specialty stores and Internet retailers.

Oxford’s stock has traded on the NYSE since 1964 under the symbol OXM. For more information, please visit our website at www.oxfordinc.com.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

Various statements in this press release, in future filings by us with the Securities and Exchange Commission and in oral statements made by or with the approval of our management include forward-looking statements about future events. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. We intend for all such forward-looking statements contained herein, the entire contents of our website, and all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Important assumptions relating to these forward-looking statements include, among others, assumptions regarding general and regional economic conditions, including those that affect consumer demand and spending, demand for our products, timing of shipments to our wholesale customers, expected pricing levels, competitive conditions, the timing and cost of planned capital expenditures, expected synergies in connection with acquisitions and joint ventures, and the results of the expected share repurchase transaction. Forward-looking statements reflect our current expectations, based on currently available information, and are not guarantees of performance. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. You are encouraged to review the information in our Form 10-K for the fiscal year ended June 1, 2007 under the heading “Risk Factors” (and those described from time to time in our future reports filed with the Securities and Exchange Commission), which contains additional important factors that may cause our actual results to differ materially from those projected in any forward-looking statements. We disclaim any intention, obligation or duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.