This column is for investors willing to take more risk and potentially receive more reward.  The stocks mentioned in this column are not recommended to buy or sell.  They're brought to your attention so you can investigate them further to determine if they fit your risk profile.  Most of the stocks will have less than $1 billion of market capitalization, have more volatility than other stocks, and oftentimes no earnings.  And some will have tremendous stories.

August 12, 2011 -Oxford Industries, Inc. (OXM-NSYE) engages in the design, production, sale, and distribution of branded and private label apparel for men and women primarily in the United States and the United Kingdom. The company's products include branded and private label dress shirts, suited separates, sport shirts, casual slacks, outerwear, sweaters, jeans, swimwear, westernwear, and golf apparel products, as well as tailored clothing products and accessories.

Its third party license arrangements for its Tommy Bahama products include men's and women's watches, eyewear, belts and socks, and fragrances; shampoo, soap, and bath amenities; ceiling fans; rugs; wallcoverings; luggage; indoor and outdoor furniture; bedding and bath linens; and table top accessories. The company's third party license arrangements for Ben Sherman products comprise footwear, kids apparel, backpacks, travel bags, suits, dress shirts, watches, jewelry, underwear, socks, sleepwear, eyewear, gift products, fragrances, toiletries, accessories, wallets, small leather goods, neckwear, pocket squares, hats, caps, scarves, gloves, and belts.

It primarily distributes through wholesale distribution channels, including national chains, department stores, mass merchants, specialty stores, specialty catalog retailers, and Internet retailers, as well as through its owned and licensed retail stores and e-commerce Websites. In addition, the company operates restaurants. Oxford Industries was founded in 1942 and is based in Atlanta, Georgia.

Sales were up 27% in the first quarter for OXM, going to $208.3 million vs $163.6 million in last year's first period. Analysts think this year total sales will reach $735 million, up 21.8% over last year's $603.95 million. Four analysts have a consensus estimate of $793.35 million for 2012. Tommy Bahama is leading the way in sales contributing 50%. Tommy B's revenues grew by 13% in the first quarter compared to last year's first period. New stores and strong demand from its Web site suggest the trend should continue.

Earnings should hit $2.21 this year, according to consensus from 5 analysts covering the stock. They see $2.67 for 2012. First quarter earnings were recently released (quarter ended April 30, fiscal year ends January 31). They were $1.07 a share, 7 cents above expectations ($1.03 on a fully diluted basis). The forecast for the second quarter is 52 cents a share, well above the 28 cents reported last year. For the third quarter, look for 15 cents, almost double the 8 cents in 2010's third. To boost earnings more, management recently purchased some of its high-yield bonds. That will decrease interest payments and increase cash flow.

Ben Sherman is struggling a little. Sales were down 14% in the first quarter because some department stores reported weaker results. Management closed the women's and shoes divisions, resulting in one-time costs. The brand is still strong, especially in men's wear. The focus now is to capitalize on its popularity and return to profitability.

The stock has performed well over the last 2 years, going from a low of $3.10 to a recent high of $39.89. That's a return of 1186%. It's off that recent high by about 10%. But it's well off the all-time high of $57.60 set in 2005. That was the same year earnings registered $2.87 a share, also an all-time high.

Essential numbers: Forward P/E is 13.2. Price to sales is .9. Price to book is 2.95. Book value is $11.95. Operating margin for the last 12 months was 9.72% and Profit margin was 12.99%. Return on equity was 15.89% and Return on assets was 8.17%. Total cash is $47.03 million for $2.85 per share. Total debt is $147.94 million. Debt to equity is 75%. Current ratio is 2.40. Beta is 2.41. In the last 52 weeks the stock is up 72.26%. There are 16.51 million shares Outstanding with a Float of 13.86 million. Insiders own 16.59% of the stock and Institutions have 82.9% of the Float. There is a dividend of 52 cents for a yield of 1.5%.

Investors bullish on the economy will find this stock of interest. During the recent recession, earnings went from $1.44 in 2008 to 90 cents in 2009, then came back to 98 cents in 2010. When the economy does well, so does Oxford. When it doesn't, all those clothes have a harder time finding bodies.