NEW YORK - G-III Apparel Group, Ltd. (NASDAQ:GIII) reported better-than-expected second quarter results and raised its full-year guidance, sending shares up 1% in early trading.
The apparel maker posted adjusted earnings per share of $0.52 for the quarter ended July 31, significantly beating analyst estimates of $0.27. Revenue came in at $644.8 million, slightly below the consensus estimate of $649.14 million but down only 2% YoY despite a challenging retail environment.
G-III's Chairman and CEO Morris Goldfarb cited strong performance from owned brands DKNY and Karl Lagerfeld, which collectively grew double-digits. He also noted the successful relaunch of the Donna Karan brand.
Looking ahead, the company raised its full-year earnings outlook, now expecting adjusted EPS of $3.95-$4.05, up from its previous guidance of $3.58-$3.68 and above analyst estimates of $3.66. G-III maintained its revenue forecast of $3.2 billion for fiscal 2025.
"Despite the uncertain macroeconomic environment, we remain optimistic about the remainder of the year and our orderbook is in a good position for the important Fall and Holiday seasons," Goldfarb stated.
The company also announced a new global apparel licensing agreement with Converse, set to launch in Fall 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.