75288--8/15/2006--OXFORD_INDUSTRIES

related topics

{customer, product, revenue}

{personnel, key, retain}

{property, intellectual, protect}

{operation, natural, condition}

{operation, international, foreign}

{acquisition, growth, future}

{cost, contract, operation}

{cost, regulation, environmental}

{system, service, information}

{product, market, service}

{condition, economic, financial}

{regulation, change, law}

{competitive, industry, competition}

{gas, price, oil}

{debt, indebtedness, cash}

{cost, operation, labor}

The apparel industry is subject to rapidly evolving fashion trends, and we must continuously offer innovative and upgraded products. Our future success is dependent upon our ability to implement our business strategy. In order to maintain our existing business and offer new product lines, we may incur substantial costs which may not be recoverable. The acquisition of new businesses has certain inherent risks, including, for example, strains on our management team, unexpected acquired costs, and, in some instances, earn-out payments. When dispositions occur, we may be required to find alternative uses for our resources to reduce excess capacity and replace those operations. The success of our operations depends on our ability to maintain an appropriate organization structure. We rely on key management, the loss of whom may have an adverse effect on our business, financial condition and operating results. The apparel industry has experienced price deflation in recent years, and price reductions in our products in the future could have an adverse impact on our business, financial condition and operating results. We depend on a group of key customers for a significant portion of our sales. We are subject to risks associated with changes in prices and availability of raw materials and other costs. We are dependent upon our third party producers and sourcing agents ability to meet our requirements. Our business is subject to regulatory risks associated with importing products. We may be unable to protect our trademarks and other intellectual property or may otherwise have our brand names harmed. We make use of debt to finance our operations, which exposes us to risks that could adversely affect our business, financial position and operating results. The apparel industry is heavily influenced by weather patterns and natural disasters, and our business may be adversely affected disproportionately by unseasonable weather conditions or natural disasters. Our foreign sourcing operations as well as the sale of products in foreign markets result in an exposure to fluctuations in foreign currency exchange rates. We are dependent on a limited number of distribution centers, and if one becomes inoperable, our business, financial condition and operating results could be negatively impacted. We license the right to use certain of our brand names under various agreements. We hold licenses for the use of other parties brand names, and we may not be able to guarantee our continued use of such brand names or the quality or salability of such brand names. We operate retail stores and restaurants which are subject to certain inherent risks. We operate in various countries with differing laws and regulations, which may impair our ability to maintain compliance with regulations and laws. Our operations are reliant on information technology, and any interruption or other failure in our information technology systems may impair our ability to provide services to our customers.

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75288--8/15/2006--OXFORD_INDUSTRIES_INC