G-III Apparel (GIII) - 2025 Q4 - Annual Results

Financial Performance - Net sales for the fourth quarter of fiscal 2025 increased by 9.8% to $839.5 million compared to $764.8 million in the prior year's fourth quarter[5]. - Net income for the fourth quarter of fiscal 2025 was $48.8 million, or $1.07 per diluted share, compared to $28.9 million, or $0.61 per diluted share, in the prior year's fourth quarter[5]. - Full-year net sales for fiscal 2025 were $3.18 billion, a 2.7% increase from $3.10 billion in the prior year[8]. - Full-year net income for fiscal 2025 was $193.6 million, or $4.20 per diluted share, compared to $176.2 million, or $3.75 per diluted share, in the prior year[8]. - Non-GAAP net income per diluted share for fiscal 2025 was $4.42, up from $4.04 in the prior year[9]. - GAAP net income for Q3 2025 was $48,784,000, compared to $28,854,000 in Q3 2024, representing a 69% increase[26]. - Non-GAAP net income for the year ended January 31, 2025, was $203,637,000, up from $189,799,000 in 2024, reflecting a growth of 7%[27]. - GAAP diluted net income per share for Q3 2025 was $1.07, an increase from $0.61 in Q3 2024, marking a 75% rise[28]. - Non-GAAP diluted net income per share for the year ended January 31, 2025, was $4.42, compared to $4.04 in 2024, indicating a 9% increase[28]. - Adjusted EBITDA for the year ended January 31, 2025, was $325,921,000, compared to $324,115,000 in 2024, showing a slight increase[30]. Future Projections - For fiscal 2026, net sales are expected to be approximately $3.14 billion, down from $3.18 billion in fiscal 2025[13]. - Fiscal 2026 net income is projected to be between $192.0 million and $197.0 million, or diluted earnings per share between $4.15 and $4.25[14]. - Adjusted EBITDA for fiscal 2026 is expected to be between $310.0 million and $315.0 million, compared to $325.9 million in fiscal 2025[15]. - The company forecasts net income for the year ending January 31, 2026, to be between $192,000,000 and $197,000,000[31]. - The company expects adjusted EBITDA for the year ending January 31, 2026, to be between $310,000,000 and $315,000,000[31]. Inventory and Debt Management - Inventories decreased by 8% to $478.1 million compared to $520.4 million last year[10]. - Total debt decreased by 99% to $6.2 million from $417.8 million last year[11]. Special Expenses - Asset impairments for the year ended January 31, 2025, totaled $8,195,000, compared to $6,758,000 in 2024[30]. - One-time warehouse related severance expenses for the year ended January 31, 2025, were $1,908,000[30]. - The company incurred expenses related to the Karl Lagerfeld acquisition amounting to $6,115,000 in 2024[30].