G Iii Apparel Group Ltd Stock Price, News & Analysis

G-III Apparel Group (GIII) reported net sales of $3.23 billion for fiscal year 2023, up 17% from the previous year. However, the company faced a net loss of $(133.1 million), or $(2.79 per share), primarily due to a $291.5 million non-cash goodwill impairment charge. Non-GAAP net income per diluted share was $2.85, down from $4.20 in fiscal 2022. Looking ahead, G-III anticipates similar net sales for fiscal 2024 and projects net income between $117 million and $122 million. The firm announced growth plans for the Donna Karan brand and a new license for Nautica, reinforcing its focus on expanding brand reach.

G-III Apparel Group, Ltd. (NASDAQ: GIII) will report its fourth quarter and full fiscal year 2023 earnings on March 16, 2023, before market opening. Management will hold a conference call at 8:30 a.m. ET to discuss the results, followed by a Q&A session. Investors can participate via telephone after registering or via a live audio webcast. G-III specializes in designing, sourcing, and marketing apparel across over 30 brands, including DKNY and Calvin Klein. The company highlights its robust portfolio and significant licenses in the fashion industry, while noting inherent risks in their operations, including reliance on international manufacturing and market uncertainties.

G-III Apparel Group reported third-quarter net sales of $1.08 billion, a 6.2% increase from last year. However, net income per diluted share fell to $1.26 from $2.16, largely due to unexpected logistical challenges leading to significant one-time charges. The company has updated its fiscal 2023 guidance, projecting net sales of approximately $3.15 billion and net income between $147 million and $152 million. Additionally, G-III announced extensions of its licenses for Calvin Klein and Tommy Hilfiger, affirming stability in sales from these brands.

PVH Corp. has extended its licensing agreements with G-III Apparel Group for Calvin Klein and TOMMY HILFIGER in the U.S. and Canada. These agreements will have staggered expirations from 2025 to 2027, allowing PVH to gradually transition core product categories back in-house. This move is part of PVH’s strategic growth plan to enhance its brand operations and supply chain efficiency, as these licensed categories accounted for one-third of global licensing revenue and under 10% of consolidated EBIT in 2021.

G-III Apparel Group, Ltd. (NASDAQ: GIII) will release its third quarter fiscal 2023 earnings on December 1, 2022, before market opening. A conference call will follow at 10:30 a.m. ET for discussions on the results and Q&A session with investors. Interested participants can register in advance through a provided link for access details, including dial-in information. G-III operates globally in fashion design, sourcing, and manufacturing, managing a diverse portfolio of over 30 brands, including DKNY and Calvin Klein.

G-III Apparel Group reported net sales of $605.2 million for Q2 fiscal 2023, a 25% increase from $483.1 million last year. Net income rose to $36.3 million ($0.74 per diluted share), up from $19.2 million ($0.39). However, non-GAAP net income per diluted share decreased to $0.39 from $0.41. The company updated guidance for fiscal 2023, projecting net sales of $3.15 billion and net income between $182 million and $187 million. G-III anticipates challenges from inflation and supply chain issues but remains optimistic about market share growth.

G-III Apparel Group, Ltd. (NASDAQ: GIII) will release its second quarter fiscal 2023 earnings on September 7, 2022, before market opening. A conference call will follow at 8:30 a.m. ET for discussion and Q&A with investors. The call can be accessed via telephone or live audio webcast. G-III, known for its apparel and accessories under various brands, is scheduled to share insights into its financial performance during this call.