Latest news with #G-IIIApparelGroupLtd
Fashion United
2 days ago
- Business
- Fashion United
G-III reports ‘solid' quarterly figures and withdraws earnings forecast
US-based fashion conglomerate G-III Apparel Group Ltd. reported a decline in revenue for the first quarter of its 2025/26 financial year, in line with expectations. However, the group delivered a stronger-than-anticipated rise in profits. Overall, the parent company of brands such as Donna Karan, DKNY, Karl Lagerfeld and Sonia Rykiel exceeded market expectations with the figures it released on Thursday. However, because the potential impact of US customs policy is currently unforeseeable, the company withdrew its earnings forecasts for the full year. The parent company of brands including Donna Karan, DKNY, Karl Lagerfeld, and Sonia Rykiel published its latest results on Thursday. Despite the solid quarterly performance, the company cited uncertainty surrounding future US customs policy as a key risk factor and therefore withdrew its full-year earnings guidance. For the three months ended April 30, G-III generated group revenue of 583.6 million dollars, representing a four percent year-on-year decline. The company attributed the dip primarily to the conclusion of its licensing agreements for Calvin Klein jeans and sportswear. Commenting on the results, chairman and CEO Morris Goldfarb highlighted strong performances from the company's owned brands. DKNY, Karl Lagerfeld, and Donna Karan each achieved double-digit growth during the period. Overall, the group delivered 'solid results' in the first quarter, Goldfarb noted. Us customs policy creates uncertainty Although the group was able to reduce its operating expenses, operating profit fell by 37 percent to 8.5 million dollars. Due to lower financing costs, however, net profit attributable to shareholders increased by 34 percent to 7.8 million dollars. Diluted earnings per share increased from 0.17 dollars, exceeding expectations. Based on the available figures, management confirmed its revenue forecast for the full year. It therefore continues to expect revenues of approximately 3.14 billion dollars. However, the group withdrew the earnings guidance it had issued in March, citing 'uncertainties regarding tariffs and related macroeconomic conditions.' The company currently anticipates incurring additional costs of approximately 135 million dollars due to existing US import tariffs. In response, G-III stated it plans to mitigate the impact through adjustments in sourcing, selective price increases, and ongoing cost-saving initiatives. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Yahoo
2 days ago
- Business
- Yahoo
G-III Apparel: Fiscal Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — G-III Apparel Group Ltd. (GIII) on Friday reported earnings of $7.8 million in its fiscal first quarter. On a per-share basis, the New York-based company said it had profit of 17 cents. Earnings, adjusted for severance costs, came to 19 cents per share. The clothing and accessories maker posted revenue of $583.6 million in the period. For the current quarter ending in July, G-III Apparel said it expects revenue in the range of $570 million. The company expects full-year revenue of $3.14 billion. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GIII at 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
