Oxford Industries reported Q1 FY2025 results with net sales of $393 million, down 1.3% year-over-year. GAAP EPS declined to $1.70 from $2.42, while adjusted EPS dropped to $1.82 from $2.66. Sales growth at Lilly Pulitzer (+12%) partially offset declines at Tommy Bahama (-4.2%) and Johnny Was (-15.1%). Gross margin decreased to 64.2% due to tariff-related costs, higher e-commerce freight, and markdowns. Operating income fell 31% to $36.2 million. Inventory rose due to tariff-driven early purchases and higher input costs. The company used $4 million in cash from operations and raised debt to fund $51 million in buybacks and $23 million in capex. FY2025 guidance was revised downward, with adjusted EPS now expected between $2.80 and $3.20 (vs. $6.68 in FY2024), reflecting $40 million in additional tariff costs.