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Consolidating Financial Data of Subsidiary Guarantors:

3 Months Ended

Apr. 28, 2012

Consolidating Financial Data of Subsidiary Guarantors:

Consolidating Financial Data of Subsidiary Guarantors:

5. Consolidating Financial Data of Subsidiary Guarantors: Our 113/8% Senior Secured Notes are guaranteed by substantially all of our wholly owned domestic subsidiaries (“Subsidiary Guarantors”). All guarantees are full and unconditional. For consolidated financial reporting purposes, non-guarantors consist of our subsidiaries which are organized outside the United States and certain domestic subsidiaries. We use the equity method of accounting with respect to our investment in subsidiaries included in other non-current assets in our condensed consolidating financial statements. Set forth below are our condensed consolidating balance sheets as of April 28, 2012, January 28, 2012 and April 30, 2011 (in thousands) as well as our condensed consolidating statements of earnings for the first quarter of fiscal 2012 and fiscal 2011 (in thousands) and our condensed consolidating statements of cash flows for the first quarter of fiscal 2012 and fiscal 2011 (in thousands).

OXFORD INDUSTRIES, INC.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEETS

April 28, 2012

	Oxford Industries (Parent)		Subsidiary Guarantors		Subsidiary Non- Guarantors		Consolidating Adjustments		Consolidated Total
ASSETS
Cash and cash equivalents	$ 880		$ 1,381		$ 3,418		$ —		$ 5,679
Receivables, net	23,931		45,614		36,900		(19,740	)	86,705
Inventories, net	(21,077	)	94,759		13,708		(1,394	)	85,996
Prepaid expenses and deferred tax assets	19,080		13,818		7,049		(3,883	)	36,064
Total current assets	22,814		155,572		61,075		(25,017	)	214,444
Property and equipment, net	7,972		81,274		8,024		—		97,270
Goodwill and intangible assets, net	—		157,969		24,199		—		182,168
Other non-current assets, net	632,715		149,269		7,185		(768,062	)	21,107
Total Assets	$663,501		$ 544,084		$100,483		$(793,079	)	$514,989

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$ 24,424		$ 64,474		$ 28,900		$ (16,195	)	$101,603
Long-term debt, less current maturities	106,991		—		—		—		106,991
Other non-current liabilities, including non-current contingent consideration	313,604		(300,638	)	149,922		(112,197	)	50,691
Non-current deferred income taxes	(3,608	)	31,275		5,947		—		33,614
Total shareholders’/invested equity	222,090		748,973		(84,286	)	(664,687	)	222,090
Total Liabilities and Shareholders’ Equity	$663,501		$ 544,084		$100,483		$(793,079	)	$514,989

OXFORD INDUSTRIES, INC.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEETS

January 28, 2012

	Oxford Industries (Parent)		Subsidiary Guarantors		Subsidiary Non- Guarantors		Consolidating Adjustments		Consolidated Total
ASSETS
Cash and cash equivalents	$ 8,416		$ 1,818		$ 3,139		$ —		$ 13,373
Receivables, net	16,082		1,569		68,194		(26,139	)	59,706
Inventories, net	(15,653	)	104,239		16,247		(1,413	)	103,420
Prepaid expenses and deferred tax assets	19,522		14,431		5,887		(1,066	)	38,774
Total current assets	28,367		122,057		93,467		(28,618	)	215,273
Property and equipment, net	8,094		78,402		6,710		—		93,206
Goodwill and intangible assets, net	—		158,163		23,525		—		181,688
Other non-current assets, net	613,720		149,268		5,237		(749,185	)	19,040
Total Assets	$650,181		$507,890		$128,939		$(777,803	)	$509,207

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$ 25,821		$ 55,100		$ 56,418		$ (19,785	)	$117,554
Long-term debt, less current maturities	103,405		—		—		—		103,405
Other non-current liabilities, including non-current contingent consideration	319,882		(308,380	)	149,991		(112,196	)	49,297
Non-current deferred income taxes	(2,996	)	32,128		5,750		—		34,882
Total shareholders’/invested equity	204,069		729,042		(83,220	)	(645,822	)	204,069
Total Liabilities and Shareholders’ Equity	$650,181		$ 507,890		$128,939		$(777,803	)	$509,207

OXFORD INDUSTRIES, INC.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEETS

April 30, 2011

	Oxford Industries (Parent)		Subsidiary Guarantors		Subsidiary Non- Guarantors		Consolidating Adjustments		Consolidated Total
ASSETS
Cash and cash equivalents	$ 40,734		$ 1,255		$ 5,044		$ —		$ 47,033
Receivables, net	11,518		25,999		47,767		(13,021	)	72,263
Inventories, net	(20,728	)	75,609		8,720		(758	)	62,843
Prepaid expenses and deferred tax assets	17,227		11,186		2,648		(3,883	)	27,178
Assets related to discontinued operations, net	33,409		—		—		—		33,409
Total current assets	82,160		114,049		64,179		(17,662	)	242,726
Property and equipment, net	7,017		71,578		4,304		—		82,899
Goodwill and intangible assets, net	—		158,618		25,140		—		183,758
Other non-current assets, net	602,112		143,219		4,153		(727,768	)	21,716
Total Assets	$691,289		$ 487,464		$97,776		$(745,430	)	$531,099

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities related to continuing operations	$ 15,882		$ 59,167		$ 35,838		$ (14,578	)	$ 96,309
Current liabilities related to discontinued operations	4,949		—		—		—		4,949
Long-term debt, less current maturities	147,228		—		—		—		147,228
Other non-current liabilities, including non-current contingent consideration	330,114		(314,051	)	145,780		(106,795	)	55,048
Non-current deferred income taxes	(4,218	)	27,883		6,566		—		30,231
Total shareholders’/invested equity	197,334		714,465		(90,408	)	(624,057	)	197,334
Total Liabilities and Shareholders’ Equity	$691,289		$ 487,464		$ 97,776		$(745,430	)	$531,099

OXFORD INDUSTRIES, INC.

UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS

First Quarter Fiscal 2012

	Oxford Industries (Parent)			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Total
Net sales	$	36,867		$	182,546		$	18,385		$	(6,845	)	$	230,953
Cost of goods sold	25,757			71,275			7,961			(3,254		)	101,739
Gross profit	11,110			111,271			10,424			(3,591		)	129,214
SG&A including change in fair value of contingent consideration	7,984			82,714			14,363			(3,653		)	101,408
Royalties and other operating income	—			3,247			1,777			(42		)	4,982
Operating income	3,126			31,804			(2,162		)	20			32,788
Interest (income) expense, net	3,999			(1,274		)	878			—			3,603
Income from equity investment	17,771			—			—			(17,771		)	—
Earnings from continuing operations before income taxes	16,898			33,078			(3,040		)	(17,751		)	29,185
Income taxes (benefit)	(1,091		)	13,187			(920		)	7			11,183
Net earnings	17,989			19,891			(2,120		)	(17,758		)	18,002
Total other comprehensive income, net of taxes	1,054			—			1,054			(1,054		)	1,054
Comprehensive income	$	19,043		$	19,891		$	(1,066	)	$	(18,812	)	$	19,056

OXFORD INDUSTRIES, INC.

CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS

First Quarter Fiscal 2011

	Oxford Industries (Parent)		Subsidiary Guarantors			Subsidiary Non- Guarantors		Consolidating Adjustments			Consolidated Total
Net sales	$	35,721	$	159,001		$	21,692	$	(8,106	)	$	208,308
Cost of goods sold	24,435		62,641			8,269		(4,697		)	90,648
Gross profit	11,286		96,360			13,423		(3,409		)	117,660
SG&A including change in fair value of contingent consideration	10,314		73,189			12,478		(4,243		)	91,738
Royalties and other operating income	53		2,913			1,882		(57		)	4,791
Operating income	1,025		26,084			2,827		777			30,713
Interest (income) expense, net	4,427		(1,197		)	759		815			4,804
Income from equity investment	21,901		—			—		(21,901		)	—
Earnings from continuing operations before income taxes	18,499		27,281			2,068		(21,939		)	25,909
Income taxes (benefit)	1,273		7,336			254		(14		)	8,849
Earnings from continuing operations	17,226		19,945			1,814		(21,925		)	17,060
Earnings from discontinued operations, net of taxes	897		143			—		—			1,040
Net earnings	18,123		20,088			1,814		(21,925		)	18,100
Total other comprehensive income, net of taxes	1,263		—			1,263		(1,263		)	1,263
Comprehensive income	$	19,386	$	20,088		$	3,077	$	(23,188	)	$	19,363

OXFORD INDUSTRIES, INC.

UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

First Quarter Fiscal 2012

	Oxford Industries (Parent)			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Total
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	(2,186	)	$	381		$	(1,473	)	$	166		$	(3,112	)
Cash Flows from Investing Activities:
Net cash used in investing activities	(427		)	(7,640		)	(1,566		)	—			(9,633		)
Cash Flows from Financing Activities:
Change in debt	3,472			—			3,312			—			6,784
Proceeds from issuance of common stock	680			—			—			—			680
Change in intercompany payable	(6,600		)	6,822			(56		)	(166		)	—
Dividends on common stock	(2,475		)	—			—			—			(2,475		)
Net cash provided by (used in) financing activities	(4,923		)	6,822			3,256			(166		)	4,989
Net change in Cash and Cash Equivalents	(7,536		)	(437		)	217			—			(7,756		)
Effect of foreign currency translation	—			—			62			—			62
Cash and Cash Equivalents at the Beginning of Period	8,416			1,818			3,139			—			13,373
Cash and Cash Equivalents at the End of Period	$	880		$	1,381		$	3,418		$	—		$	5,679

OXFORD INDUSTRIES, INC.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

First Quarter Fiscal 2011

	Oxford Industries (Parent)			Subsidiary Guarantors			Subsidiary Non- Guarantors			Consolidating Adjustments			Consolidated Total
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	6,304		$	15,681		$	(3,269	)	$	(1,500	)	$	17,216
Cash Flows from Investing Activities:
Net cash used in investing activities	(408		)	(3,203		)	(23		)	—			(3,634		)
Cash Flows from Financing Activities:
Change in debt	—			—			695			—			695
Proceeds from issuance of common stock	939			—			—			—			939
Change in intercompany payable	8,245			(12,356		)	2,611			1,500			—
Dividends on common stock	(2,142		)	—			—			—			(2,142		)
Net cash provided by (used in) financing activities	7,042			(12,356		)	3,306			1,500			(508		)
Cash Flows from Discontinued Operations:
Net cash provided by (used in) discontinued operations	(13,334		)	324			2,597			—			(10,413		)
Net change in Cash and Cash Equivalents	(396		)	446			2,611			—			2,661
Effect of foreign currency translation	—			—			278			—			278
Cash and Cash Equivalents at the Beginning of Period	41,130			809			2,155			—			44,094
Cash and Cash Equivalents at the End of Period	$	40,734		$	1,255		$	5,044		$	—		$	47,033