Latest news with #DonnaKaran
Yahoo
a day ago
- Business
- Yahoo
G-III Apparel Q1 Earnings Beat Estimates, Retail Sales Rise Y/Y
G-III Apparel Group, Ltd. GIII reported first-quarter fiscal 2026 results, wherein the top and bottom lines beat the Zacks Consensus Estimate. The company's net sales decreased and earnings increased year over year. GIII's wholesale segment experienced a decline in net sales and the metric for the retail segment saw a year-over-year first-quarter results were driven by double-digit growth in key owned brands, which largely offset the planned exit of certain licensed businesses. These results reflect strong demand for the company's brand portfolio and demonstrate effective execution. The company reaffirmed its net sales guidance for fiscal 2026 and is actively working to mitigate the impacts of tariffs. G-III Apparel Group, LTD. price-consensus-eps-surprise-chart | G-III Apparel Group, LTD. Quote Adjusted earnings per share (EPS) of 19 cents surpassed the Zacks Consensus Estimate of 12 cents. Also, the bottom line increased 58.3% from the year-earlier quarter's adjusted EPS of 12 cents. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Net sales decreased 4.3% year over year to $583.6 million but beat the consensus estimate of $580 million. Gross profit decreased 4.8% year over year to $246.5 million in the fiscal first quarter. We note that the gross margin declined 30 basis points (bps) year over year to 42.2%. SG&A expenses declined 2.2% year over year to $231.5 million. The year-over-year decrease was primarily attributable to lower advertising expenses in the current quarter, as the prior year included elevated spending related to the relaunch of the Donna Karan brand and DKNY marketing campaigns. Moreover, advertising costs declined due to reduced net sales of licensed products in the current period. As a percentage of net sales, this metric increased 90 bps year over year to 39.7%.Adjusted EBITDA declined 12.6% year over year to $19.5 million. We note that the adjusted EBITDA margin declined 40 bps year over year to 3.3% in the quarter under review. The company's wholesale segment reported net sales of $563 million compared with $598 million in the previous-year period. The Zacks Consensus Estimate for the wholesale segment's net sales was pegged at $567.9 million for the quarter under review. This segment's gross margin was 40.4%, down from 40.9% in the prior-year period. This 50-bps decline was primarily caused by an unfavorable product mix, partially offset by increased sales of the company's higher-margin owned retail segment recorded net sales of $36 million for the quarter, up from $31 million in the prior-year period. The Zacks Consensus Estimate for the retail segment's net sales was pegged at $30.8 million for the quarter under review. This segment reported a gross margin of 53.5%, an improvement from 47% in the prior-year period. This significant increase was driven by the company's merchandising and execution initiatives under its retail segment turnaround strategy, along with strong digital sales growth of Donna Karan products, which carry higher average unit retails. GIII Stock's Past 3-Month Performance Image Source: Zacks Investment Research G-III Apparel ended the fiscal first quarter with cash and cash equivalents of $257.8 million and total debt of $18.7 million. Total stockholders' equity was $1.68 billion. Inventory declined 4.8% year over year to $456.5 million at the end of the quarter. The company repurchased 807,437 shares for $19.7 million during the fiscal first quarter. For fiscal 2026, net sales are expected to be $3.14 billion compared with $3.18 billion in fiscal 2025. The company anticipates lower sales in the first half of fiscal 2026 compared with the prior year, with growth expected to accelerate in the second sales for the second quarter of fiscal 2026 are projected to be approximately $570 million, down from $644.8 million in the prior-year quarter. This decline is expected due to ongoing supply-chain challenges and timing shifts in certain programs into the second half of the year. Gross margins are expected to be consistent with the prior year's second-quarter gross margin of 42.8%.Net income for the fiscal second quarter is projected to be between $1 million and $6 million, or earnings per share of 2 cents to 12 cents. This compares with net income of $24.2 million, or 53 cents per share, in the second quarter of fiscal of this Zacks Rank #3 (Hold) company have lost 13.2% in the past three months compared with the industry's 8.9% decline. Some better-ranked stocks are Urban Outfitters Inc. URBN, Canada Goose GOOS and Allbirds Inc. Outfitters is a lifestyle specialty retailer that offers fashion apparel and accessories, footwear, home decor and gift products. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for URBN's fiscal 2025 earnings and sales implies growth of 21.2% and 8%, respectively, from the year-ago actuals. URBN delivered a trailing four-quarter average earnings surprise of 29%.Canada Goose is a global outerwear brand. GOOS is a designer, manufacturer, distributor and retailer of premium outerwear for men, women and children. It carries a Zacks Rank #2 (Buy) at Zacks Consensus Estimate for Canada Goose's current fiscal year's earnings and sales indicates growth of 10% and 2.9%, respectively, from the year-ago actuals. Canada Goose delivered a trailing four-quarter average earnings surprise of 57.2%.Allbirds is a lifestyle brand that uses naturally derived materials to make footwear and apparel products. It carries a Zacks Rank of 2 at Zacks Consensus Estimate for BIRD's current financial-year earnings implies growth of 16.1% from the year-ago actual. The company delivered a trailing four-quarter average earnings surprise of 21.3%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report Canada Goose Holdings Inc. (GOOS) : Free Stock Analysis Report Allbirds, Inc. (BIRD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion Network
a day ago
- Business
- Fashion Network
G-III Apparel sales down 4%, withdraws annual earnings forecast on tariffs
G-III Apparel announced on Friday a 4% decline in sales to $583.6 million in the first quarter, hurt by the U.S. fashion firm's returning of its Calvin Klein and licenses to parent PVH Corp. However, the New York-based company reported double-digit growth of its key owned brands, namely DKNY, Karl Lagerfeld and Donna Karan, which helped net income for the quarter ended April 30 rise to $7.8 million, or $0.17 per diluted share, compared to $5.8 million, or $0.12 per diluted share. "'G-III delivered solid first quarter results, marked by earnings that exceeded the high end of results underscore the strong demand and desirability of our brand portfolio and are a testament to our team's outstanding execution," said Morris Goldfarb, G-III's chairman and chief executive officer. Looking ahead, the fashion firm withdrew its full-year earnings forecast due to the uncertainty around U.S. tariffs and related macroeconomic conditions. The company expects the unmitigated cost of tariffs on goods imported into the U.S. will accrue additional expenses of approximately $135 million, which is expected to mostly affect the second half of the year. "We are reaffirming our net sales guidance for fiscal 2026 and working diligently to mitigate the impact of tariffs. Our experienced management team has a proven track record of successfully navigating periods of uncertainty, and we view the ongoing disruptions as an opportunity to strengthen our competitive position and capture incremental market share. As we advance our strategic priorities, we have never been more confident in the global resonance of our brands and the significant growth potential ahead to drive long-term profitability and shareholder value," concluded Goldfarb. G-III Apparel owns DKNY, Karl Lagerfeld, Donna Karan, G.H. Bass and Vilebrequin brands, and licenses over 20 brands including Nautica, Halston, Converse, BCBG and National Sports leagues, among others.
Fashion Network
2 days ago
- Business
- Fashion Network
G-III Apparel sales down 4%, withdraws annual earnings forecast on tariffs
G-III Apparel announced on Friday a 4% decline in sales to $583.6 million in the first quarter, hurt by the U.S. fashion firm's returning of its Calvin Klein and Tommy Hilfiger licenses to parent PVH Corp. However, the New York-based company reported double-digit growth of its key owned brands, namely DKNY, Karl Lagerfeld and Donna Karan, which helped net income for the quarter ended April 30 rise to $7.8 million, or $0.17 per diluted share, compared to $5.8 million, or $0.12 per diluted share. "'G-III delivered solid first quarter results, marked by earnings that exceeded the high end of results underscore the strong demand and desirability of our brand portfolio and are a testament to our team's outstanding execution," said Morris Goldfarb, G-III's chairman and chief executive officer. Looking ahead, the fashion firm withdrew its full-year earnings forecast due to the uncertainty around U.S. tariffs and related macroeconomic conditions. The company expects the unmitigated cost of tariffs on goods imported into the U.S. will accrue additional expenses of approximately $135 million, which is expected to mostly affect the second half of the year. "We are reaffirming our net sales guidance for fiscal 2026 and working diligently to mitigate the impact of tariffs. Our experienced management team has a proven track record of successfully navigating periods of uncertainty, and we view the ongoing disruptions as an opportunity to strengthen our competitive position and capture incremental market share. As we advance our strategic priorities, we have never been more confident in the global resonance of our brands and the significant growth potential ahead to drive long-term profitability and shareholder value," concluded Goldfarb. G-III Apparel owns DKNY, Karl Lagerfeld, Donna Karan, G.H. Bass and Vilebrequin brands, and licenses over 20 brands including Nautica, Halston, Converse, BCBG and National Sports leagues, among others.
Fashion Network
2 days ago
- Business
- Fashion Network
G-III Apparel Q1 results
G-III Apparel announced on Friday a 4% decline in sales to $583.6 million in the first quarter, hurt by the U.S. fashion firm's returning of its Calvin Klein and Tommy Hilfiger licenses to parent PVH Corp. However, the New York-based company reported double-digit growth of its key owned brands, namely DKNY, Karl Lagerfeld and Donna Karan, which helped net income for the quarter ended April 30 rise to $7.8 million, or $0.17 per diluted share, compared to $5.8 million, or $0.12 per diluted share. "'G-III delivered solid first quarter results, marked by earnings that exceeded the high end of results underscore the strong demand and desirability of our brand portfolio and are a testament to our team's outstanding execution," said Morris Goldfarb, G-III's chairman and chief executive officer. Looking ahead, the fashion firm withdrew its full-year earnings forecast due to the uncertainty around U.S. tariffs and related macroeconomic conditions. The company expects the unmitigated cost of tariffs on goods imported into the U.S. will accrue additional expenses of approximately $135 million, which is expected to mostly affect the second half of the year. "We are reaffirming our net sales guidance for fiscal 2026 and working diligently to mitigate the impact of tariffs. Our experienced management team has a proven track record of successfully navigating periods of uncertainty, and we view the ongoing disruptions as an opportunity to strengthen our competitive position and capture incremental market share. As we advance our strategic priorities, we have never been more confident in the global resonance of our brands and the significant growth potential ahead to drive long-term profitability and shareholder value," concluded Goldfarb. G-III Apparel owns DKNY, Karl Lagerfeld, Donna Karan, G.H. Bass and Vilebrequin brands, and licenses over 20 brands including Nautica, Halston, Converse, BCBG and National Sports leagues, among others.
Fashion Network
3 days ago
- Business
- Fashion Network
G-III Apparel Q1 results
G-III Apparel announced on Friday a 4% decline in sales to $583.6 million in the first quarter, hurt by the U.S. fashion firm's returning of its Calvin Klein and licenses to parent PVH Corp. However, the New York-based company reported double-digit growth of its key owned brands, namely DKNY, Karl Lagerfeld and Donna Karan, which helped net income for the quarter ended April 30 rise to $7.8 million, or $0.17 per diluted share, compared to $5.8 million, or $0.12 per diluted share. "'G-III delivered solid first quarter results, marked by earnings that exceeded the high end of results underscore the strong demand and desirability of our brand portfolio and are a testament to our team's outstanding execution," said Morris Goldfarb, G-III's chairman and chief executive officer. Looking ahead, the fashion firm withdrew its full-year earnings forecast due to the uncertainty around U.S. tariffs and related macroeconomic conditions. The company expects the unmitigated cost of tariffs on goods imported into the U.S. will accrue additional expenses of approximately $135 million, which is expected to mostly affect the second half of the year. "We are reaffirming our net sales guidance for fiscal 2026 and working diligently to mitigate the impact of tariffs. Our experienced management team has a proven track record of successfully navigating periods of uncertainty, and we view the ongoing disruptions as an opportunity to strengthen our competitive position and capture incremental market share. As we advance our strategic priorities, we have never been more confident in the global resonance of our brands and the significant growth potential ahead to drive long-term profitability and shareholder value," concluded Goldfarb. G-III Apparel owns DKNY, Karl Lagerfeld, Donna Karan, G.H. Bass and Vilebrequin brands, and licenses over 20 brands including Nautica, Halston, Converse, BCBG and National Sports leagues, among others.
