G Iii Apparel Group Ltd Stock Price, News & Analysis

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.

G-III Apparel Group (GIII) reported strong Q1 results for FY 2023, with net sales rising 32.5% to $688.8 million compared to $519.9 million last year. Net income per diluted share increased to $0.62 from $0.53. Non-GAAP net income per diluted share also rose to $0.72 from $0.56. The company raised its FY 2023 guidance, projecting net sales of approximately $3.24 billion and net income between $205 million and $215 million. This growth is attributed to strong consumer demand and the recent acquisition of Karl Lagerfeld.

G-III Apparel Group, Ltd. (GIII) has completed its acquisition of the remaining 81% stake in the Karl Lagerfeld brand for €200 million (approximately $214 million USD). This purchase was made from various investors, including Fred Gehring of Amlon Capital BV, and was financed using G-III's cash reserves. With this acquisition, G-III now owns 100% of the Karl Lagerfeld brand, enhancing its portfolio of more than 30 brands, which includes global names like DKNY and Calvin Klein.

G-III Apparel Group, Ltd. (NASDAQ: GIII) is set to release its Q1 fiscal 2023 earnings on June 7, 2022, before market opening. Management will host a conference call at 8:30 a.m. ET to discuss the results, followed by a Q&A session. Investors can access the live webcast through the investor relations website or by dialing in. A replay will be available starting at 11:30 a.m. ET on the same day until June 14, 2022. G-III operates various well-known apparel brands, highlighting its strong market presence.

G-III Apparel Group has agreed to acquire the remaining 81% stake in the Karl Lagerfeld brand for $210 million. This all-cash transaction will enable G-III to fully own the brand, which has significant global retail sales potential exceeding $2 billion. G-III's existing leadership team will continue to manage the brand, which has become a vital part of its North American operations. The acquisition is anticipated to enhance G-III's overall economic value and improve shareholder returns.

G-III Apparel Group has announced the election of Lisa Warner Wardell and Patti H. Ongman to its Board of Directors, enhancing the board's expertise in technology and omni-channel retail. Morris Goldfarb, Chairman and CEO, expressed optimism regarding their insights contributing to the company's strategy for brand value. The board will also see the departure of long-standing members Willem van Bokhorst and Jeanette Nostra-Katz, with a focus on diversity, as 75% of the board will be independent. The anticipated changes aim to bolster operational expertise and social responsibility commitments.