Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-18183 G-III APPAREL GROUP, LTD. (Exact name of registrant as specified in its charter) Delaware 41-1590959 (S ...

G-III Apparel Group, Ltd. (NASDAQ:GIII) Q2 2023 Earnings Conference Call September 7, 2022 8:30 AM ET Company Participants Neal Nackman - Chief Financial Officer and Treasurer Morris Goldfarb - Chairman and Chief Executive Officer Conference Call Participants Edward Yruma - Piper Sandler Will Gartner - Wells Fargo Jay Sole - UBS Paul Kearney - Barclays Noah Zatzkin - KeyBanc Capital Markets Operator Good day and thank you for standing by. Welcome to the G-III Apparel Group Second Quarter Fiscal 2023 Earning ...

Financial Data and Key Metrics Changes - Net sales for the first quarter were $689 million, an increase of 33% compared to last year's first quarter net sales of $520 million, exceeding guidance by approximately 15% [8][31] - Non-GAAP net income was $0.72 per diluted share compared to $0.50 per share in the first quarter last year [10][37] - Gross margin percentage was 35.7% in the first quarter, down from 37.6% in the previous year due to inflationary cost increases [32][34] - Net income for the quarter was $30.6 million or $0.62 per diluted share compared to $26.3 million or $0.53 per diluted share in last year's first quarter [36] Business Line Data and Key Metrics Changes - Wholesale operations segment net sales increased approximately 33% to $681 million from $512 million last year [31] - Retail operations segment net sales were $28 million for the first quarter, up 44% compared to net sales of $19 million in last year's first quarter [31] - The handbag business for Calvin Klein, DKNY, and Karl Lagerfeld Paris saw significant growth, with Karl Lagerfeld handbags doubling in distribution [13] Market Data and Key Metrics Changes - Digital sales for the quarter were up approximately 60% compared to pre-pandemic levels [16] - Direct-to-consumer sales for Vilebrequin were up strong double digits compared to pre-pandemic levels, and wholesale nearly doubled [23] Company Strategy and Development Direction - The company is focused on driving power brands across categories, expanding its portfolio through ownership and licensing opportunities, and maximizing omnichannel opportunities [49] - The acquisition of Karl Lagerfeld is expected to enhance growth and geographic reach, with anticipated annual royalty income of over $65 million [15][28] - The company is developing its European-based brand portfolio and expanding Vilebrequin's presence with new stores [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in business and future growth opportunities, raising the full fiscal year 2023 guidance to approximately $3.24 billion in net sales [28][40] - The company is optimistic about market share gains as life returns to normal, despite challenges such as inflation and supply chain issues [5][39] Other Important Information - Inventory levels are up approximately 59% compared to last year, primarily driven by in-transit inventory [37] - The company ended the quarter with a lower net debt position of $83 million compared to $118 million in the prior year [38] Q&A Session Summary Question: Can you talk about the Karl Lagerfeld brand more in detail? - The anticipated operating margin for Karl Lagerfeld is mid-single digits, with potential to reach mid-double digits over time [52] - The brand has a direct-to-consumer mix of about 60% [53] Question: Can you elaborate on the gross margin expectations? - Gross margins are expected to improve as inflationary pressures ease and price increases are implemented [61] - Both Tommy Hilfiger and Calvin Klein are performing well, with high demand for polished products [63] Question: What are you seeing in terms of department store orders? - Department stores are managing inventory differently, focusing on turn rather than surplus, leading to better margins [67] - The company is creating a significant global footprint with its brands, particularly with the acquisition of Karl Lagerfeld [69]

G-III Apparel Group, Ltd. (NASDAQ:GIII) Q3 2022 Earnings Conference Call December 1, 2021 8:30 AM ET Company Participants Neal Nackman - Chief Financial Officer Morris Goldfarb - Chairman of the Board and Chief Executive Officer Conference Call Participants Edward Yruma - KeyBanc Capital Markets Erinn Murphy - Piper Sandler Susan Anderson - B. Riley FBR, Inc. Jay Sole - UBS Dana Telsey - Telsey Advisory Group Steven Marotta - C.L. King & Associates Operator Good day and thank you for standing by. Welcome to ...

G-III Apparel Group, Ltd. (NASDAQ:GIII) Q2 2021 Earnings Conference Call September 2, 2021 8:30 AM ET Company Participants Neal S. Nackman - CFO Morris Goldfarb - Chairman and CEO Sammy Aaron - Vice Chairman and President Wayne S. Miller - COO Jeffrey Goldfarb - EVP Priya Trivedi - VP, IR Conference Call Participants Edward Yruma - KeyBanc Erinn Murphy - Piper Sandler Susan Anderson - B. Riley Jay Sole - UBS Operator Ladies and gentlemen, thank you for standing by and welcome to the G-III Apparel Group Seco ...

G-III Apparel Group, Ltd. (NASDAQ:GIII) Q1 2022 Results Conference Call June 7, 2021 8:30 AM ET Company Participants Neal Nackman - Chief Financial Officer Morris Goldfarb - Chairman and Chief Executive Officer Sammy Aaron - Vice Chairman and President Wayne Miller - Chief Operating Officer Jeff Goldfarb - Executive Vice President Priya Trivedi - Vice President of Investor Relations Conference Call Participants Edward Yruma - KeyBanc Erinn Murphy - Piper Sandler Susan Anderson - B. Riley Jim Duffy - Stifel ...

Business Operations - G-III Apparel Group operates in the fashion market with a portfolio of over 30 licensed and proprietary brands, including five global power brands: DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger, and Karl Lagerfeld Paris[19]. - G-III Apparel Group's wholesale operations include sales to retailers under owned, licensed, and private label brands, with revenues also coming from royalty agreements related to owned trademarks[24]. - The company has established relationships with approximately 1,300 customers, including major retailers like Macy's, Nordstrom, and Costco, enhancing its distribution channels[51]. - The company has increased its ownership interest in the joint venture for DKNY and Donna Karan products in China to 75%, indicating a strategic move to enhance market presence[171]. - The company plans to expand its retail locations and increase wholesale distribution of Vilebrequin products worldwide[70]. Financial Performance - The company reported a restructuring of its retail operations, completing the closure of Wilsons Leather and G.H. Bass stores, incurring an aggregate charge of approximately $100 million related to this restructuring[40]. - G-III's net sales in fiscal 2021 were significantly dependent on the third and fourth quarters, accounting for approximately 66% of total net sales[128]. - Sales to the ten largest customers represented 73.3% of net sales in fiscal 2021, with Macy's alone contributing 20.9%[118][119]. - The retail operations segment reported an operating loss of $126.8 million in fiscal 2021, $74.6 million in fiscal 2020, and $49.0 million in fiscal 2019, indicating a trend of increasing losses[158]. - The company expects fiscal 2022 results to be materially adversely affected by the ongoing impacts of COVID-19[145]. COVID-19 Impact - The impact of the COVID-19 pandemic resulted in lower sales and profitability, with expectations of continued adverse effects on net sales, earnings, and cash flows in fiscal 2022[28]. - The COVID-19 pandemic resulted in the majority of stores being closed for an average of 8 to 10 weeks during the first half of fiscal 2021, significantly impacting operating results[140]. - The company has taken measures to preserve liquidity during the pandemic, including employee furloughs, job eliminations, and deferral of capital projects[34]. - The company recorded a significant reduction in consumer traffic at outlet stores due to the COVID-19 pandemic, adversely affecting retail sales[163]. - The company has experienced a resurgence in COVID-19 cases, which could lead to further shutdowns and business disruptions[140]. Restructuring and Strategy - The restructuring plan includes a focus on the operations and growth of DKNY and Karl Lagerfeld Paris stores, with an emphasis on reducing corporate headcount and administrative costs[41]. - G-III's restructuring plan includes closing underperforming stores and focusing on the growth of DKNY and Karl Lagerfeld brands[76]. - The company aims to enhance the digital business of DKNY and Donna Karan, indicating a focus on e-commerce growth and digital marketing strategies[66]. - The company aims to increase digital channel business opportunities, investing in digital personnel, marketing, logistics, and distribution to adapt to the evolving retail landscape[43]. - The company is investing in digital marketing and logistics to expand online sales opportunities[80]. Product and Brand Development - G-III Apparel Group launched the DKNY Jeans denim collection during fiscal 2021 as part of its strategy to unlock the potential of its iconic brands[43]. - The company launched its first DKNY Jeans collection in fiscal 2021, indicating a focus on expanding product offerings within the DKNY brand[64]. - The company continues to seek new licensing opportunities to broaden its brand reach and product offerings, reflecting a proactive growth strategy[61]. - The company has a long-term license agreement with Calvin Klein for women's jeanswear, which was expanded in June 2019, demonstrating commitment to key partnerships[55]. - Net sales from Calvin Klein and Tommy Hilfiger brands constituted approximately 53.5% of total net sales in fiscal 2021[151]. Diversity and Inclusion - G-III employed approximately 2,800 full-time and 500 part-time employees as of January 31, 2021[97]. - 70% of G-III's total workforce self-identify as women, and 49% self-identify as people of color[101]. - The company aims to enhance diversity and inclusion, pledging support for 10 scholarships annually starting spring 2021[103]. Sustainability and Corporate Responsibility - The company has made a commitment to sustainable practices, with over 20% of Vilebrequin's products made from sustainable fabrics in fiscal 2021, aiming for 80% by 2025[113]. - G-III provided substantial support to non-profit organizations, including hundreds of thousands of masks and medical supplies during fiscal 2021[113]. - The company has implemented a social compliance program to protect a larger labor force through shared audits and training sessions[111]. Risks and Challenges - The apparel industry is cyclical, with purchases declining during recessionary periods, which could adversely affect sales and profitability[186]. - The company faces risks related to maintaining material license agreements, which are crucial for revenue generation[148]. - The competitive nature of the apparel industry may result in lower prices and decreased gross profit margins, adversely affecting sales and profitability[189]. - The company faces risks associated with leasing real estate, including obligations under leases for unprofitable stores, which could affect financial stability[161]. - Fluctuations in raw material prices and transportation costs could materially impact the cost of goods sold and profitability, posing a risk to financial performance[177][178]. Digital Transformation - The company is focused on enhancing its digital presence, aiming to increase digital sales through its own websites and retail partners[127]. - The digital business is a focus for investment, with the aim to increase sales derived from digital operations, which is critical for future growth[167]. - Increased cybersecurity threats pose risks to the company's information technology systems and the confidentiality of stored data[210]. - A significant data security breach could damage the company's reputation and result in lost sales, fines, or lawsuits[212]. - The company must comply with Payment Card Industry (PCI) Data Security Standards, and failure to do so could restrict its ability to process payments[208].

G-III Apparel Group, Ltd. (NASDAQ:GIII) Q3 2021 Earnings Conference Call December 8, 2020 8:30 AM ET Company Participants Neal Nackman - Chief Financial Officer & Treasurer Morris Goldfarb - Chairman & Chief Executive Officer Conference Call Participants Edward Yruma - KeyBanc Capital Markets, Inc. Erinn Murphy - Piper Sandler & Co. Heather Balsky - Bank of America Jim Duffy - Stifel, Nicolaus & Co., Inc. Jay Sole - UBS Susan Anderson - B. Riley FBR, Inc. Steve Marotta - C.L. King & Associates Dana Telsey - ...

G-III Apparel Group, Ltd. (NASDAQ:GIII) Q1 2021 Earnings Conference Call June 4, 2020 8:30 AM ET Corporate Participants Morris Goldfarb - Chairman and Chief Executive Officer Neal Nackman - Chief Financial Officer Conference Call participants Edward Yruma - KeyBanc Capital Markets Erinn Murphy - Piper Sandler Matt Gulmi - Wells Fargo Rick Patel - Needham & Co Heather Balsky - BofA Krista Zuber - Cowen Dana Telsey - Telsey Advisory Group Adrienne Yih - Barclays Steve Marotta - CL King Susan Anderson - B. Ril ...

G-III Apparel Group, Ltd. (NASDAQ:GIII) Q3 2020 Earnings Conference Call December 4, 2019 8:30 AM ET Company Representatives Morris Goldfarb - Chairman, Chief Executive Officer Sammy Aaron - Vice Chairman, President Wayne Miller - Chief Operating Officer Neal Nackman - Chief Financial Officer Jeff Goldfarb - Executive Vice President Priya Trivedi - Vice President of Investor Relations Conference Call Participants Edward Yruma - KeyBanc Capital Erinn Murphy - Piper Jaffray John Kernan - Cowen and Company Ric ...