Exhibit 99.1

Oxford Industries, Inc. Press Release

222 Piedmont Avenue, N.E. · Atlanta, Georgia 30308

Oxford Industries Reports Second Quarter Results

— Sales increase 26% on inclusion of Lilly Pulitzer, growth in Tommy Bahama —

— Adjusted operating margin improves 190 basis points on improved sales mix and leverage —

— Adjusted EPS of $0.57 stronger than expected, Company increases full year guidance —

ATLANTA, GA — Oxford Industries, Inc. (NYSE:OXM) today announced financial results for its fiscal 2011 second quarter, which ended July 30, 2011. Consolidated net sales were $180.6 million in the second quarter of fiscal 2011 compared to $143.0 million in the second quarter of fiscal 2010. On an adjusted basis, earnings from continuing operations per diluted share were $0.57 compared to $0.32 in the second quarter of fiscal 2010. The adjusted earnings per share exclude the impact of the repurchase of a portion of the Company’s senior secured notes, purchase accounting charges and LIFO accounting adjustments. The Company noted that operating results for Lilly Pulitzer, which was acquired in December 2010, were not included in the Company’s prior year results.

On a U.S. GAAP basis, earnings from continuing operations per diluted share were $0.21 in the second quarter of fiscal 2011 compared to $0.28 in the same period of the prior year. For reference, tables reconciling U.S. GAAP to adjusted measures are included at the end of this release.

J. Hicks Lanier, Chairman and Chief Executive Officer, commented, “We are very pleased with the outstanding results we achieved during the second quarter which were driven by especially strong performances from our Tommy Bahama and Lilly Pulitzer businesses. Our direct to consumer business continued to deliver growth in both top-line revenue and margins. We were also pleased to have used excess cash to significantly reduce our outstanding debt and interest expense while maintaining a high level of liquidity which ensures that we will have ample financial flexibility going forward.”

Mr. Lanier concluded, “As we enter the second half of the year we are mindful of the macroeconomic uncertainty, but we are confident in the strength of our brands and the capability of our management team.”

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Operating Results

Tommy Bahama reported strong results with increases in both sales and operating income. Net sales for the second quarter of fiscal 2011 were $109.1 million compared to $99.3 million in the second quarter of fiscal 2010. The increase in net sales was attributable to higher retail sales, including improved comparable store sales and revenues associated with four additional retail stores, as well as growth in e-commerce sales. At the end of the second quarter, Tommy Bahama operated 90 retail stores compared to 86 on July 31, 2010.

Tommy Bahama’s operating income for the second quarter was $17.0 million compared to $14.2 million in the second quarter of fiscal 2010. The increase in operating income was due to higher sales and higher gross margins associated with an increased proportion of direct to consumer sales. These increases were partially offset by increased SG&A associated with the costs of operating the four additional retail stores and higher compensation costs.

Lilly Pulitzer continued its outstanding Spring/Summer season with increased sales in all channels of distribution including wholesale, retail and e-commerce. Lilly Pulitzer reported net sales of $24.8 million and operating income of $5.6 million for the second quarter of fiscal 2011. The Company noted that operating income was negatively impacted by a $0.6 million charge related to the change in the fair value of contingent consideration.

Ben Sherman reported net sales of $20.9 million for the second quarter of fiscal 2011 compared to $18.3 million in the second quarter of fiscal 2010. The increase was primarily due to the impact of currency exchange rate changes between the United States dollar and the British pound sterling. Ben Sherman reported an operating loss of $1.8 million in the second quarter of fiscal 2011 compared to an operating loss of $0.6 million in the second quarter of fiscal 2010. The lower operating results were primarily due to increased product sourcing costs.

Net sales for Lanier Clothes were $22.9 million in the second quarter of fiscal 2011, slightly ahead of the $22.7 million reported in the second quarter of fiscal 2010. Operating income in the second quarter of fiscal 2011 was $2.3 million compared to operating income of $2.8 million in the second quarter of fiscal 2010, with the decrease primarily due to higher SG&A.

Corporate and Other reported an operating loss of $5.4 million for the second quarter of fiscal 2011 compared to an operating loss of $5.2 million in the second quarter of fiscal 2010. Decreases in LIFO accounting charges were offset by higher incentive compensation costs.

Consolidated gross margins for the second quarter of fiscal 2011 increased by 170 basis points to 57.0% compared to 55.3% in the second quarter of fiscal 2010. Gross margins improved as a result of changes in the sales mix with the inclusion of the Lilly Pulitzer

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operating results, the increased proportion of direct to consumer sales at Tommy Bahama and the net impact of LIFO accounting. These increases were partially offset by lower gross margins in Ben Sherman due to increased product sourcing costs.

SG&A for the second quarter of fiscal 2011 was $88.3 million, or 48.9% of net sales, compared to $71.3 million, or 49.9% of net sales, in the second quarter of fiscal 2010.  The improvement in SG&A as a percentage of sales was primarily due to operating leverage gained on the higher sales base. The increase in total SG&A was primarily due to expenses associated with the inclusion of the Lilly Pulitzer business, higher incentive compensation costs and expenses associated with operating additional Tommy Bahama retail stores.

Royalties and other operating income for the second quarter of fiscal 2011 were $4.0 million compared to $3.7 million in the second quarter of fiscal 2010. The increase in royalties and other operating income was primarily due to royalty income associated with Lilly Pulitzer.

In May 2011, the Company repurchased, in a privately negotiated transaction, $40.0 million in aggregate principal amount of its 11.375% Senior Secured Notes due 2015 for $46.6 million, plus accrued interest, using cash on hand. The repurchase of the 11.375% Senior Secured Notes and related non-cash write-off of approximately $1.6 million of unamortized deferred financing costs and discount resulted in a loss of approximately $8.2 million.

Interest expense for the second quarter of fiscal 2011 was $4.3 million compared to $5.1 million in the second quarter of fiscal 2010. The decrease in interest expense was primarily due to the repurchase of the $40.0 million in aggregate principal amount of the Company’s 11.375% Senior Secured Notes.

For the first half of fiscal 2011, consolidated net sales grew 26.9% to $389.0 million compared to $306.6 million in the first half of fiscal 2010. Adjusted earnings per share from continuing operations almost doubled to $1.64 compared to $0.87 in the first half of fiscal 2010. On a U.S. GAAP basis, diluted net earnings per share from continuing operations were $1.25 compared to $0.80 in the first half of fiscal 2010.

Balance Sheet and Liquidity

Total inventories at the close of the second quarter of fiscal 2011 were $77.7 million, compared to $57.2 million at the close of the second quarter of fiscal 2010. The increase in inventory levels was primarily due to the addition of Lilly Pulitzer inventory and an increase at Tommy Bahama to support anticipated sales and additional retail stores. Receivables increased to $53.9 million at quarter end compared to $45.5 million at the end of last year’s second quarter primarily due to the addition of Lilly Pulitzer receivables.

After completion of the repurchase of notes described above, $110.0 million aggregate principal amount of 11.375% Senior Secured Notes remain outstanding. As of July 30,

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2011, the Company had no borrowings outstanding under its U.S. revolving credit facility and $37.8 million of cash and cash equivalents.

The Company’s capital expenditures for fiscal 2011, including $12.7 million incurred during the first half of fiscal 2011, are expected to be approximately $35 million. These expenditures will consist primarily of additional retail stores, retail store remodeling, information technology investments and distribution center enhancements.

Fiscal 2011 Outlook

For fiscal 2011, the Company now expects adjusted earnings from continuing operations per diluted share in a range of $2.20 to $2.30 and net sales of $735 to $750 million. This compares to the Company’s prior guidance of $2.15 to $2.25 in adjusted earnings from continuing operations per diluted share and net sales of $730 to $745 million.

For the third quarter, ending on October 29, 2011, the Company anticipates net sales in a range from $160 to $170 million and adjusted earnings from continuing operations per diluted share of $0.10 to $0.15. Because of the impact of seasonality to the Company’s business, sales and earnings in the third quarter are lower than other quarters.

Dividend

The Company also announced that its Board of Directors has approved a cash dividend of $0.13 per share payable on October 28, 2011 to shareholders of record as of the close of business on October 14, 2011. The Company has paid dividends every quarter since it became publicly owned in 1960.

Conference Call

The Company will hold a conference call with senior management to discuss its financial results at 4:30 p.m. EDT today. A live web cast of the conference call will be available on the Company’s website at www.oxfordinc.com. Please visit the website at least 15 minutes before the call to register for the teleconference web cast and download any necessary software. A replay of the call will be available through September 14, 2011.  To access the telephone replay, participants should dial (858) 384-5517. The access code for the replay is 4786833. A replay of the web cast will also be available following the teleconference on the Company’s website at www.oxfordinc.com.

About Oxford

Oxford Industries, Inc. is an international apparel design, sourcing and marketing company featuring a diverse portfolio of owned and licensed brands. Oxford’s brands include Tommy Bahama®, Lilly Pulitzer®, Ben Sherman®, Oxford Golf®, Arnold Brant® and Billy London®. The Company also holds exclusive licenses to produce and sell

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certain product categories under the Kenneth Cole®, Geoffrey Beene®, Dockers® and Ike Behar® labels. The Company operates retail stores, restaurants and Internet websites. The Company also has license arrangements with select third parties to produce and sell certain product categories under its Tommy Bahama, Lilly Pulitzer and Ben Sherman brands. Oxford’s wholesale customers include department stores, specialty stores, national chains, specialty catalogs and Internet retailers. Oxford’s stock has traded on the New York Stock Exchange since 1964 under the symbol OXM. For more information, please visit Oxford’s website at www.oxfordinc.com.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This press release may include statements that are forward-looking statements within the meaning of the federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. We intend for all forward-looking statements contained herein or on our website, and all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf, to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Important assumptions relating to these forward-looking statements include, among others, assumptions regarding the impact of economic conditions on consumer demand and spending, particularly in light of general economic uncertainty that continues to prevail, demand for our products, timing of shipments requested by our wholesale customers, expected pricing levels, competitive conditions, the timing and cost of planned capital expenditures, costs of products and raw materials we purchase, costs of labor, access to capital and/or credit markets, acquisition and disposition activities, expected outcomes of pending or potential litigation and regulatory actions and disciplined execution by key management. Forward-looking statements reflect our current expectations, based on currently available information, and are not guarantees of performance. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Important factors relating to these risks and uncertainties include, but are not limited to, those described in Part I, Item 1A. contained in our Annual Report on Form 10-K for the period ended January 29, 2011 under the heading “Risk Factors” and those described from time to time in our future reports filed with the SEC.

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OXFORD INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(in thousands, except per share amounts)

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OXFORD INDUSTRIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(in thousands, except par amounts)

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OXFORD INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

(in thousands)

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OXFORD INDUSTRIES, INC.

OPERATING GROUP INFORMATION

(UNAUDITED)

(in thousands)

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RECONCILIATION OF CERTAIN OPERATING RESULTS INFORMATION PRESENTED IN ACCORDANCE WITH U.S. GAAP TO CERTAIN OPERATING RESULTS INFORMATION,

AS ADJUSTED

Set forth below is our reconciliation of certain operating results information, presented in accordance with generally accepted accounting principles, or U.S. GAAP, to the operating results information, as adjusted, for certain historical periods. We believe that investors often look at ongoing operations as a measure of assessing performance and as a basis for comparing past results against future results. Therefore, we believe that presenting our operating results, as adjusted, provides useful information to investors because this allows investors to make decisions based on our ongoing operations. We use the operating results, as adjusted, to discuss our business with investment institutions, our board of directors and others. Further, we believe that presenting our results, as adjusted, provides useful information to investors because this allows investors to compare our results for the periods presented to other periods.

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NOTES TO RECONCILIATION OF CERTAIN OPERATING RESULTS INFORMATION PRESENTED IN ACCORDANCE WITH U.S. GAAP TO CERTAIN OPERATING RESULTS INFORMATION, AS ADJUSTED

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RECONCILIATION OF OPERATING INCOME (LOSS), IN ACCORDANCE WITH U.S. GAAP TO OPERATING INCOME (LOSS), AS ADJUSTED

Set forth below are our reconciliations, in thousands, of operating income (loss) for each operating group and in total, calculated in accordance with U.S. GAAP, to operating income (loss), as adjusted for certain historical periods. We believe that investors often look at ongoing operating group operating income (loss) as a measure of assessing performance and as a basis for comparing past results against future results. Therefore, we believe that presenting our operating income (loss), as adjusted, provides useful information to investors because this allows investors to make decisions based on our ongoing operating group results. We use the operating income (loss), as adjusted, to discuss our operating groups with investment institutions, our board of directors and others. Further, we believe that presenting our operating results, as adjusted, provides useful information to investors because this allows investors to compare our operating group operating income (loss) for the periods presented to other periods.

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RECONCILIATION OF EARNINGS FROM CONTINUING OPERATIONS PER SHARE PRESENTED IN ACCORDANCE WITH U.S. GAAP TO EARNINGS FROM CONTINUING OPERATIONS PER SHARE, AS ADJUSTED

Set forth below is our reconciliation of reported earnings from continuing operations per diluted share for certain historical and future periods, each presented in accordance with generally accepted accounting principles, or U.S. GAAP, to the earnings per diluted share, as adjusted, for each respective period. We believe that investors often look at ongoing operations as a measure of assessing performance and as a basis for comparing past results against future results. Therefore, we believe that presenting our earnings per diluted share, as adjusted, provides useful information to investors because this allows investors to make decisions based on our ongoing operations. We use the earnings per diluted share, as adjusted, to discuss our business with investment institutions, our board of directors and others. Further, we believe that presenting earnings per diluted share, as adjusted, provides useful information to investors because this allows investors to compare our results for the periods presented to other periods. Note that columns may not add due to rounding.

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NOTES TO RECONCILIATION OF EARNINGS FROM CONTINUING OPERATIONS PER SHARE PRESENTED IN ACCORDANCE WITH U.S. GAAP TO EARNINGS FROM CONTINUING OPERATIONS PER SHARE, AS ADJUSTED

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