Oxford Industries, Inc. (NYSE:OXM) has failed to meet analyst expectations for Q2 FY23, with sales growth of 16% YoY to $420.32 million, missing the consensus of $424.27 million. The company's earnings beat was due to better expense management and a lower tax rate. However, Q2 gross margin deleverage resulted from increased e-commerce flash sales and end-of-season clearance events. The company expects Q3 sales of $320 million-$335 million, with Adjusted EPS of $0.90-$1.00. Telsey Advisory Group analyst Dana Telsey has lowered the price target for OXM to $107 from $115.