G-III Apparel Group, Ltd. (GIII) reported that its second quarter net income to G-III Apparel Group declined to $16.4 million from $36.3 million, prior year. Net income per share was $0.35 compared to $0.74. Non-GAAP net income per share was $0.40 compared to $0.39. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.01, for the quarter. Analysts' estimates typically exclude special items.
Net sales were $659.8 million compared to $605.2 million, a year ago. Analysts on average had estimated $592.32 million in revenue.
For fiscal 2024, the company expects net sales of approximately $3.30 billion and net income between $145 million and $150 million, or between $3.05 and $3.15 per share. The company expects non-GAAP net income between $152 million and $157 million, or between $3.20 and $3.30 per share.
For the third quarter, the company expects net sales of approximately $1.13 billion. The company expects net income between $94 million and $99 million or between $1.99 and $2.09 per share. The company expects non-GAAP net income between $96 million and $101 million, or between $2.03 and $2.13 per share.
Separately, HanesBrands and G-III Apparel Group, announced they have entered into a strategic multi-year license agreement for the design, production and distribution of outerwear for the Champion and C9 Champion brands in North America, including exploring opportunities across Champion's global network as a key partner.
Shares of G-III Apparel Group are up 14% in pre-market trade on Thursday.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
For comments and feedback contact: editorial@rttnews.com
Business News
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.