Shares of G-III Apparel Group (GIII -12.07%) dropped after the diversified company reported disappointing top-line results in its fourth-quarter earnings report. As a result, G-III stock was down 13.1% on the news as of 3:19 p.m. ET. G-III comes up short in Q4G-III, which licenses and owns several apparel brands, said that revenue in the quarter fell 10.5% to $764.8 million, which was well below estimates of $817.5 million. The company slashed its inventories in the quarter, which fell 27%, as part of a str ...

G-III Apparel Group, Ltd. (GIII) has posted fourth-quarter fiscal 2024 earnings, which beat the Zacks Consensus Estimate and improved year over year. However, sales missed the consensus mark and fell year over year.The company's diverse business model and disciplined operating approach notably strengthened its financial position. By the end of the year, G-III boasted a net cash position and more than a billion dollars in liquidity, reflecting its robust credit profile and financial health.G-III has also ini ...

G-III Apparel Group (GIII) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.43%. A quarter ago, it was expected that this clothing and accessories maker would post earnings of $2.08 per share when it actually produced earnings of $2.78, delivering a surprise of 33.65%.Over the last ...

NEW YORK--(BUSINESS WIRE)--G-III Apparel Group, Ltd. (NasdaqGS: GIII) today reported results for the fourth quarter and full fiscal year ended January 31, 2024. Morris Goldfarb, G-III’s Chairman and Chief Executive Officer, said, “This year was important for G-III as we began to execute on our path for the future, while delivering strong profitability. We delivered strong growth with DKNY, Karl Lagerfeld and Vilebrequin, increasing penetration of our higher margin, owned brands to 47% of fiscal 2024 net sa ...

[Executive Summary & Business Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Highlights) This section outlines the company's strategic execution in fiscal 2024, focusing on brand growth and financial strength [CEO's Statement and Strategic Overview](index=1&type=section&id=CEO's%20Statement%20and%20Strategic%20Overview) The CEO highlights strong fiscal 2024 profitability driven by owned brands, a solid financial position, and strategic growth initiatives for fiscal 2025 - Penetration of higher-margin, owned brands (DKNY, Karl Lagerfeld, Vilebrequin) increased to **47% of fiscal 2024 net sales**, up from 40% in the prior year[4](index=4&type=chunk) - The company ended fiscal year 2024 in a **net cash position of $90.0 million** with over **$1.0 billion in liquidity**[4](index=4&type=chunk)[6](index=6&type=chunk) - New growth initiatives for fiscal 2025 include the successful launch of the **Donna Karan brand** and the development of **Nautica, Halston, and Champion outerwear**[4](index=4&type=chunk) - Future plans involve significant investment in **global marketing, talent, and technology** to support brand launches and enhance operational capabilities[4](index=4&type=chunk) [Results of Operations](index=1&type=section&id=Results%20of%20Operations) This section details the company's financial performance for the fourth quarter and full fiscal year 2024 compared to the prior year [Fourth Quarter Fiscal 2024](index=1&type=section&id=Fourth%20Quarter%20Fiscal%202024) Fourth quarter sales declined, but profitability significantly improved from a net loss to a net income, absent a prior-year impairment charge Q4 Fiscal 2024 vs. Q4 Fiscal 2023 Performance | Metric | Q4 FY2024 | Q4 FY2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $764.8M | $854.4M | -10.5% | | Net Income (Loss) | $28.9M | $(261.1)M | N/A | | Diluted EPS | $0.61 | $(5.54) | N/A | | Non-GAAP Diluted EPS | $0.76 | $0.41 | +85.4% | - The prior year's fourth-quarter results included a substantial **non-cash goodwill impairment charge of $291.5 million**, net of tax, or $6.19 per share[5](index=5&type=chunk) [Full-Year Fiscal 2024](index=2&type=section&id=Full-Year%20Fiscal%202024) Full-year sales decreased modestly while net income recovered strongly from a prior-year loss, complemented by a 27% reduction in inventories Full-Year Fiscal 2024 vs. Fiscal 2023 Performance | Metric | FY 2024 | FY 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $3.10B | $3.23B | -4.0% | | Net Income (Loss) | $176.2M | $(133.1)M | N/A | | Diluted EPS | $3.75 | $(2.79) | N/A | | Non-GAAP Diluted EPS | $4.04 | $2.85 | +41.8% | - **Inventories decreased by 27%** compared to the end of the prior fiscal year[6](index=6&type=chunk) [Outlook](index=3&type=section&id=Outlook) This section presents the company's financial guidance for the upcoming first quarter and full fiscal year 2025 [Fiscal 2025 Full-Year Guidance](index=3&type=section&id=Fiscal%202025%20Full-Year%20Guidance) The company projects fiscal 2025 net sales of approximately $3.20 billion, with net income guidance reflecting significant marketing investments Fiscal 2025 Full-Year Guidance | Metric | FY2025 Guidance | FY2024 Actual | | :--- | :--- | :--- | | Net Sales | ~$3.20B | $3.10B | | Net Income | $167.0M - $172.0M | $176.2M | | Diluted EPS | $3.50 - $3.60 | $3.75 | | Non-GAAP Net Income | $167.0M - $172.0M | $189.8M | | Non-GAAP Diluted EPS | $3.50 - $3.60 | $4.04 | | Adjusted EBITDA | $290.0M - $295.0M | $324.1M | - The outlook includes approximately **$60.0 million in incremental expenses**, with about 65% allocated to marketing for Donna Karan and DKNY[11](index=11&type=chunk) [First Quarter Fiscal 2025 Guidance](index=3&type=section&id=First%20Quarter%20Fiscal%202025%20Guidance) First quarter fiscal 2025 guidance anticipates slightly higher sales but projects a net loss compared to a profit in the prior-year quarter First Quarter Fiscal 2025 Guidance | Metric | Q1 FY2025 Guidance | Q1 FY2024 Actual | | :--- | :--- | :--- | | Net Sales | ~$615.0M | $606.6M | | Net Income (Loss) | $(5.0)M - $0.0M | $3.2M | | Diluted EPS | $(0.10) - $0.00 | $0.07 | | Non-GAAP Net Income (Loss) | $(5.0)M - $0.0M | $6.0M | | Non-GAAP Diluted EPS | $(0.10) - $0.00 | $0.13 | [Financial Statements & Reconciliations](index=5&type=section&id=Financial%20Statements%20%26%20Reconciliations) This section provides key consolidated financial statements and reconciles GAAP results to non-GAAP performance measures [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) The fiscal 2024 statements show improved gross profit and operating income despite lower sales, alongside a stronger balance sheet Fiscal Year-End Statement of Operations Highlights (in thousands) | Metric | Year Ended Jan 31, 2024 | Year Ended Jan 31, 2023 | | :--- | :--- | :--- | | Net sales | $3,098,242 | $3,226,728 | | Gross profit | $1,241,847 | $1,101,137 | | Operating profit (loss) | $283,343 | $(109,462) | | Net income (loss) attributable to G-III | $176,168 | $(133,061) | Selected Balance Sheet Data (in thousands) | Metric | At Jan 31, 2024 | At Jan 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $507,829 | $191,652 | | Inventories | $520,426 | $709,345 | | Long-term debt | $417,833 | $619,358 | | Total stockholders' equity | $1,550,260 | $1,385,448 | [GAAP to Non-GAAP Reconciliations](index=6&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliations) Reconciliations adjust GAAP results for non-recurring items like asset impairments to provide a clearer view of core operational performance - Management provides non-GAAP measures to exclude items not indicative of core business results, such as asset impairments, acquisition-related expenses, and other one-time charges[23](index=23&type=chunk)[26](index=26&type=chunk) FY2024 GAAP to Non-GAAP Net Income Reconciliation (in thousands) | Description | Amount | | :--- | :--- | | GAAP net income attributable to G-III | $176,168 | | Asset impairments | $6,758 | | Expenses related to Karl Lagerfeld acquisition | $6,115 | | Non-cash imputed interest | $3,798 | | One-time expenses (DKNY China) | $3,138 | | Other adjustments & tax impact | $(6,178) | | **Non-GAAP net income attributable to G-III** | **$189,799** | Adjusted EBITDA Reconciliation (in thousands) | Metric | FY 2024 | FY 2023 | | :--- | :--- | :--- | | Net income (loss) attributable to G-III | $176,168 | $(133,061) | | Plus: Adjustments (Taxes, Interest, D&A, etc.) | $147,947 | $100,004 | | Plus: Other Non-GAAP Exclusions | $15,011 | $325,682 | | **Adjusted EBITDA** | **$324,115** | **$266,125** |

G-III Apparel Group (GIII) ended the recent trading session at $31.85, demonstrating a +0.44% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.6%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq lost 0.92%.The clothing and accessories maker's shares have seen an increase of 4.04% over the last month, surpassing the Consumer Discretionary sector's gain of 3.27% and the S&P 500's gain of 3.56%.The investment community will be paying close attention ...

The most recent trading session ended with G-III Apparel Group (GIII) standing at $31.34, reflecting a +1.23% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.96% for the day. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 1.3%.Prior to today's trading, shares of the clothing and accessories maker had lost 0.74% over the past month. This has lagged the Consumer Discretionary sector's gain of 2. ...

Embodying all-American style with a New York spirit, Kaia Gerber takes center stage as the global face of the relaunch, bringing undeniably real sophistication to the campaign. "This season brings a whole new energy to DKNY, but with a laser focus on the original tone to build on the DNA of the brand," emphasizes Jeff Goldfarb, EVP at G-III Apparel Group. With a renewed focus on DKNY icons and fundamentals, the collection reimagines core elements like denim, blazers, trenches, and leather jackets—all refres ...

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ICONIC HERITAGE, FRESH VISIONAs a testament to Donna Karan's intuitive vision, Spring 2024 fosters a timely conversation that resonates more profoundly than ever before. "'In Women We Trust' is such a powerful statement. We need more women to lead us into the future because women think differently," exclaimed Amber Valletta. Symbolizing the brand's epic return and relaunch, the "In Women We Trust" platform is not merely a fashion campaign—it's a powerful depiction of eight iconic women who embody Donna Kara ...