Oxford Industries rallies after CEO boosts investor confidence with stock purchase

Oxford Industries (OXM) broke higher after CEO Thomas Chubb disclosed that he purchased 5,000 shares of the apparel company's stock at a price of $35.12 per share. 

Last week, Chubb warned that the start of the holiday season has been softer for Oxford Industries (OXM) due to a combination of tariff-related product gaps in certain critical seasonal categories and a more promotional retail environment. He stated that even with the near-term challenges, the company is still focused on disciplined inventory and expense management, supporting the strong portfolio of brands, and investing for long-term growth. 

Shares of Oxford Industries (OXM) rallied 5.7% in afternoon trading to cut into the post-earnings decline of more than 10%. The dividend yield for new buyers of the stock is 7.9%. Short interest on OXM stands at 15.9% of the total float.