Oxford Industries Inc
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Consumer Discretionary : Textiles, Apparel & Luxury Goods | Small Cap Blend
Company profile

Oxford Industries, Inc. is a branded apparel company. The Company designs, sources, markets and distributes products bearing the trademarks of its Tommy Bahama, Lilly Pulitzer and Southern Tide lifestyle brands and other brands. The Company distributes primarily through its direct-to-consumer channels of distribution, which consist of its brand-specific full-price retail stores, brand-specific e-commerce websites, Tommy Bahama food and beverage operations and its Tommy Bahama outlets. The Company's remaining sales are generated through its wholesale distribution channels. Its wholesale operations consist of distribution of products bearing its lifestyle brands, which complement its direct-to-consumer operations and provide access to a larger group of consumers. Its distribution channel consists of approximately 187 brand-specific full-price retail stores, e-commerce websites, 20 Tommy Bahama food and beverage locations and 35 Tommy Bahama outlet stores.

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Boston Beer Company News: Berger Montague Investigates Securities Fraud Allegations Against The Boston Beer Company, Inc. (SAM); Lead Plaintiff Deadline is November 15, 2021

9:31 am ET October 15, 2021 (Newsfile) Print

Philadelphia, Pennsylvania--(Newsfile Corp. - October 15, 2021) - Berger Montague is investigating securities fraud allegations against The Boston Beer Company, Inc. ("Boston Beer" or the "Company"). The Firm is investigating these claims on behalf of investors who purchased Boston securities (NYSE: SAM) between April 22, 2021 and September 8, 2021 (the "Class Period").

If you purchased Boston Beer securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Michael Dell'Angelo at mdellangelo@bm.net or (215) 875-3080.

Whistleblowers: Anyone with non-public information regarding Boston Beer is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

Boston Beer is a high-end alcoholic beverage company that produces hard seltzer, beer, and hard cider at its cidery and under contractual arrangements at other brewery locations.

On July 22, 2021, Boston Beer reduced its full-year 2021 guidance, expecting earnings per share between $18 and $22, adjusted downward from its previously announced range of $22 and $26. The Company cited softer-than-expected sales in the hard seltzer category and overall beer industry, and also stated that it had "overestimated the growth of the hard seltzer category in the second quarter."

On this news, the Company's share price declined by $246.54 per share, or 26%, from $947.54 per share to close at $701.00 per share on July 23, 2021.

On September 8, 2021, Boston Beer announced that it was withdrawing its 2021 financial guidance as a result of decreased demand for its hard seltzer products. The Company further disclosed that it expected to incur hard seltzer-related inventory write-offs, shortfall fees payable to third-party brewers, and other costs associated with the drop in demand during the remainder of fiscal year 2021.

On this news, Boston Beer's share price declined $21.09 per share to a closing price of $538.31 on September 9, 2021.

Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.


Andrew Abramowitz, Senior Counsel

Berger Montague

(215) 875-3015


Michael Dell'Angelo, Managing Shareholder

Berger Montague

(215) 875-3080


To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99815

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