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G-III posts decent profits

The G-III Apparel Group, based in the United States, has reported fiscal first quarter earnings of 2.8 million dollars. Profits are six cents per share. The results topped Wall Street expectations.

The clothing and accessories maker posted revenues of 457.4 million dollars in the period. For the current quarter ending in August, G-III Apparel expects revenue in the range of 485 million dollars. The company expects full-year earnings to be 2.55 dollars to 2.65 dollars per share, with revenue expected to be 2.56 billion dollars.

G-III Apparel shares have fallen 12 per cent since the beginning of the year. The stock has declined 31 per cent in the last 12 months.

G-III Apparel, founded in 1956, designs, manufactures and markets men’s and women’s apparel. It operates through two segments, wholesale operations and retail operations. It makes outerwear, dresses, sportswear, swimwear, women’s suits, women’s performance wear; and women’s handbags, footwear, small leather goods, cold weather accessories, and luggage.

The company offers its products to department, specialty, and mass merchant retail stores in the United States, Canada, Europe and the Far East and distributes products through its retail stores as well as through G.H. Bass, Wilsons Leather, Vilebrequin, and Andrew Marc websites. As of January 31, 2016, it operated 199 Wilsons Leather stores, 163 G.H. Bass stores, and five Calvin Klein performance stores.