You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: Due to the material impact of COVID-19 on our business in fiscal 2020, we will also include comparisons to our fiscal 2019 results.
Our performance was strong across all of our brands, particularly in our direct-to-consumer channels of distribution.
While we are benefiting from some favorable market conditions, the numbers that we delivered are the direct result of our team's ongoing efforts to navigate through the short-term challenges posed by the pandemic, while staying focused on our long-term strategic objective of delivering happiness to our customers.
Our excellent results are attributable to the strength of our brand portfolio and how we communicate our aspirational upbeat brand messages through beautiful inventory, differentiated products and exceptional customer experiences.
To deliver superior customer experience in today's market, we need to stay focused on our long-term North Star Objective of continuing to improve our customer centric, digitally driven, seamless, cross channel shopping experience, with an emphasis on mobile.
We continue to invest heavily in further improving the customer experience, with enhancements to our mobile apps, search engine optimization, customer data and insights, customer service and much more.
The boundaries between our retail and e-commerce businesses are becoming increasingly blurry.
We recognize that an ever-growing number of customer journeys to purchase, include both physical and digital elements.
Most consumers no longer distinguish between the relationship with the digital aspect of the brand and their physical relationship with our brands, they simply think of their relationship with our brands.
They want and expect to be able to mix and match digital and physical elements at will.
We are determined to fulfill this desire and continue to invest in the people, processes and technology, that will allow us to do so.
We have talked many times about our ability to ship from store, as an example of the blending of these two channels.
We have also routed capabilities, such as drive-to-store digital marketing; buy online, pickup in store; reserve online, pickup in store; virtual shopping appointments; and cross-channel customer service, to better meet the needs of our customers.
The better we are at providing a truly seamless omnichannel experience, the better our customers' overall experience will be, which will ultimately result in increased brand loyalty, and a stronger business over the long term.
Our team's relentless focus on improving our customer experience is evident in our numbers, which exceeded 2019 levels.
During the second quarter, our combine to direct-to-consumer, full price store and e-commerce comp grew by an impressive 22% compared to 2019 with 15% growth in our biggest brand, Tommy Bahama and a remarkable 31% growth in Lilly Pulitzer.
Growth in our direct-to-consumer channel was led by our highly profitable e-commerce business, which grew by 49% over the second quarter of 2019.
In addition to the impressive top line growth, we were able to simultaneously expand our e-commerce gross margin.
Our e-commerce business has been enhanced by our ship from store capability, which allows us to leverage inventories located in stores, to serve the e-commerce demand, as well as demand from other stores.
For the year, we expect our total e-commerce business to be roughly a third of consolidated sales, compared to 23% in fiscal 2019.
While e-commerce is our fastest growing channel, physical stores remain an incredibly important part of our direct-to-consumer business.
In certain instances, there is no substitute for the personal interaction and high level of service that we are able to provide in stores.
Our retail stores grew top line during the quarter, modestly over 2019 levels, despite lower traffic with sequential improvement through the second quarter across all regions of the country.
As we did in e-commerce, we were also able to expand retail store gross margins during the quarter, driven by full price selling and higher IMUs.
For this year, we expect retail stores to be just under 40% of our total business.
We further differentiate our omnichannel approach to delivering happiness to our customers, with our food and beverage offering.
Restaurant and bar sales grew 26% during the quarter compared to 2019.
We have positive comp growth in all locations as compared to second quarter of 2019, with all, but a couple at double-digit levels.
For this year's second quarter, we have five additional Marlin Bar locations as compared to 2019.
Our food and beverage capabilities give us a unique and powerful way to build relationships with new customers as well as reinforce the love that existing customers have for our Tommy Bahama brand.
Based on the strong start to 2021 and our growing footprint, we expect our restaurant and bar business to achieve close to $100 million in revenue this year.
Finally, while our wholesale business only comprises about 20% of our total sales, it remains an important channel of distribution.
In situations, where both we and our wholesale partner can be profitable, wholesale can be an important vehicle for exposing new customers to our brands, and another way in which we can serve our customer, when and how she wants to be served.
The excellent performance across the enterprise for the quarter was driven by stellar achievements within each of the individual brands.
Starting with Tommy Bahama, the brand delivered double-digit top line growth over 2019.
Higher sales combined with improvement in gross margin and excellent expense control, drove 1,000 basis points improvement in operating margin to a very strong 22.7%.
During the quarter, much of the growth was driven by knit tops and shorts in both men's and women's, including many of our IslandZone Performance styles.
The strength in these categories is a terrific example of how Tommy Bahama benefits from and is capitalizing on the long-standing trend toward casual, easy care and easy-to-wear product.
At the same time, Lilly Pulitzer achieved top line growth, up 16% over 2019, expanded their gross margin and also controlled expenses well.
Combined, these results drove a 230 basis point improvement in the operating margin to an impressive 29.5%.
From a product perspective, we have seen a nice rebound in woven dresses, which has been a historical strength for Lilly, but the biggest growth category has been our Lilly Luxletic activewear, which is now about 12% of our business.
In our Southern Tide business, excellent growth in e-commerce, plus the addition of our new retail stores, drove 17% sales growth, which, combined with expanded gross margins, resulted in a 21% operating margin.
While it is early in Southern Tide's retail journey, operating just a handful of company-owned stores in Florida, we are encouraged by the results that we are seeing.
Finally, our early stage businesses, The Beaufort Bonnet Company and Duck Head, while currently small, are an important part of our overall enterprise growth strategy.
With our strong e-commerce businesses and growing wholesale businesses, both The Beaufort Bonnet Company and Duck Head delivered strong growth and expansion in both gross and operating margin.
In addition, we are thrilled to have signed our first lease for a company-owned store for The Beaufort Bonnet Company, and look forward to opening later this year.
As we head into the second half of the year, while being mindful of the ongoing COVID-related challenges in supply chain and store and restaurant operations, we believe that our focus on executing our long-term strategic initiatives will continue to drive strength in our business.
We have built a powerful and profitable, seamless, digital and mobile-first omni-channel platform, that is driving growth by providing a superior, modern customer experience.
From a product perspective, the trend toward casual, easy care and easy-to-wear, plays right into the sweet spot of our brands, and we are doing a great job of capitalizing on the market opportunity.
As Tom just mentioned, outstanding performances in each of our brands in the second quarter, resulted in record breaking revenue, gross margin, operating margin and earnings.
On the top line, demand for our products remained high, and revenue exceeded 2019 levels in each of our direct-to-consumer channels, and in each of our brands.
Consolidated sales in the second quarter were $329 million, compared to $302 million in the second quarter of 2019.
Our gross margin continue to track significantly higher than 2019.
On an adjusted basis, gross margin expanded 450 basis points over 2019 to 64% in the second quarter.
Driving this improvement was a higher proportion of full price sales, our overall shift in our sales mix to higher margin direct-to-consumer channels of distribution and improved IMUs.
Higher freight costs put some pressure on margin in the quarter, partially offsetting some of the improvement.
We gained SG&A leverage in the second quarter, improving from 47% of sales in 2019 to 44% of sales.
SG&A dollars increased modestly from 2019 levels, with the increases in performance based incentive compensation and marketing expense, partially offset by decreases in other employment costs, due to headcount reductions and lower occupancy cost.
In the second quarter, our consolidated adjusted operating margin expanded 820 basis points over 2019 to 22%, with operating margin expansion in all operating groups.
Our business is well supported by our solid balance sheet and strong cash flow from operations.
Our liquidity position is strong with $180 million in cash and no borrowings outstanding under our revolving credit facility at the end of the second quarter.
Cash flow remains very strong.
In the first half of 2021, cash provided by operating activities was $149 million compared to $24 million in the first half of 2020.
On a FIFO basis, inventory decreased 34% compared to the end of the second quarter of 2020.
Excluding Lanier Apparel, which we are exiting, FIFO inventory decreased 26% as compared to the end of the second quarter of 2020.
Tommy Bahama, Lilly Pulitzer and Southern Tide each lowered inventory levels year-over-year, conservative purchases of seasonal inventory and higher than expected first half sales.
Ongoing enhancements to enterprise order management systems were also contributing to a more efficient use of inventory.
On a LIFO basis, inventory decreased 48%, and excluding Lanier Apparel, decreased 39% compared to the end of the second quarter of 2020.
Our outlook for the back half of the year reflects our expectation of strength in our full price direct-to-consumer business.
We expect full price direct-to-consumer sales growth and consolidated gross margin expansion over 2019.
While we have raised our outlook for the second half, year-over-year improvement in our full price direct business is expected to be partially offset by a handful of specific headwinds in the back half of the fiscal year.
The strong first half full price sales has left us with less inventory for our second half clearance events, including an expected $15 million reduction in Lilly Pulitzer's third quarter flash clearance sale, compared to 2019.
In addition, initial spring wholesale shipments, which have historically shipped in the fourth quarter, are likely to ship in the first quarter of 2022, due to supply chain delays.
Finally, the exit of Lanier Apparel is expected to impact revenue in both the third and fourth quarters.
We expect sales from Lanier Apparel to be approximately $25 million lower than 2019's third quarter, and $20 million lower than 2019's fourth quarter.
For the full year, we now expect sales in a range of $1.085 billion to $1.105 billion, as compared to sales of $1.12 billion in 2019.
Adjusted earnings per share is expected to be between $6.45 and $6.70, a significant increase from our previous guidance.
This compares to earnings of $4.32 per share on an adjusted basis in 2019.
For the full year, sales from Lanier Apparel are expected to be $25 million in 2021 compared to $95 million in 2019.
For the third quarter, we expect sales to be between $220 million and $230 million, compared to sales of $241 million in the third quarter of fiscal 2019.
In the third quarter of fiscal 2021, we expect earnings of $0.20 to $0.30 per share on an adjusted basis compared to earnings of $0.10 per share on an adjusted basis in the third quarter of 2019.
Our outlook includes strong quarter-to-date results, with August as the most impactful month of the quarter in 2021.
The company's effective tax rate for the full year is expected to be approximately 23%.
We continue to support our business in fiscal 2021 with investments for future growth.
Capital expenditures are expected to be approximately $40 million in fiscal 2021, as we focus on technology related to digital marketing, customer service, mobile enhancements and improve distribution.
In addition, we will be investing in additional brick-and-mortar locations with our newest Marlin Bar at Town Square in Las Vegas slated to open tomorrow.
This Marlin Bar is replacing the recently closed full service restaurant in the same center.
Finally, we are proud of our long history of returning value to our shareholders through dividends, which we have paid every quarter since going public in 1960.
This quarter, our Board of Directors has declared a dividend of $0.42 per share.

user
oxford industries sees fy adjusted earnings per share $6.45 to $6.70.
sees q3 sales $220 million to $230 million.
sees fy sales $1.085 billion to $1.105 billion.
sees fy adjusted earnings per share $6.45 to $6.70.
q2 sales $329 million versus refinitiv ibes estimate of $308.2 million.
sees q3 adjusted earnings per share $0.20 to $0.30.

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