Oxford Industries slumps after downbeat outlook

Shares of clothing company Oxford Industries OXM.N fall 23.4% to $30.97, their lowest in more than 5 years

Co cuts FY25 outlook, citing $61 mln impairment charges tied to women's lifestyle brand Johnny Was and tariff impact of $25 mln-$30 mln

Lowers adj. EPS forecast to $2.20-$2.40 from prior forecast of $2.80-$3.20; says new guidance reflects tariff impact of $1.25-$1.5 per share

Co sees FY25 net sales at $1.47 bln-$1.49 bln vs. prior forecast of $1.48 bln-$1.52 bln

Including session moves, stock down 60.3% YTD