Latest news with #G-IIIApparel
Fashion Network
18 hours 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
20 hours 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.
Yahoo
2 days ago
- Business
- Yahoo
G-III Apparel Group (GIII) Surpasses Q1 Earnings and Revenue Estimates
G-III Apparel Group (GIII) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 58.33%. A quarter ago, it was expected that this clothing and accessories maker would post earnings of $0.97 per share when it actually produced earnings of $1.27, delivering a surprise of 30.93%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. G-III Apparel , which belongs to the Zacks Textile - Apparel industry, posted revenues of $583.61 million for the quarter ended April 2025, surpassing the Zacks Consensus Estimate by 0.59%. This compares to year-ago revenues of $609.75 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. G-III Apparel shares have lost about 15.2% since the beginning of the year versus the S&P 500's gain of 1%. While G-III Apparel has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for G-III Apparel: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.54 on $620.3 million in revenues for the coming quarter and $4.22 on $3.14 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Textile - Apparel is currently in the bottom 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Oxford Industries (OXM), is yet to report results for the quarter ended April 2025. The results are expected to be released on June 11. This owner of the Tommy Bahama, Lilly Pulitzer and Southern Tide clothing lines is expected to post quarterly earnings of $1.82 per share in its upcoming report, which represents a year-over-year change of -31.6%. The consensus EPS estimate for the quarter has been revised 2% lower over the last 30 days to the current level. Oxford Industries' revenues are expected to be $385.23 million, down 3.3% from the year-ago quarter. 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 G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report Oxford Industries, Inc. (OXM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
