G-III Apparel Group, Ltd. (GIII) reported Thursday higher profit and sales in its fourth quarter, both above market. The company also issued outlook for first quarter, expecting weak sales. For fiscal 2026, the company projects earnings above market, but sales below the Street.
In pre-market activity on the Nasdaq, G-III Apparel shares were trading at $27.00, up 6.55%.
In its fourth quarter, net income was $48.8 million or $1.07 per share, compared to $28.9 million or $0.61 per share in the prior year. Adjusted earnings per share were $1.27, compared to $0.76 a year ago.
Net sales increased 9.8% to $839.5 million from $764.8 million in the prior year.
The Wall Street analysts on average expected the company to report earnings of $0.97 per share on sales of $807.11 million. Analysts' estimates typically exclude special items.
Looking ahead, for the first quarter, G-III Apparel projects net income to be between $2.0 million and $7.0 million, or $0.05 and $0.15 per share, compared to last year's $5.8 million or $0.12 per share. The Street is looking for earnings of $0.07 per share for the quarter.
Net sales for the first quarter are expected to be approximately $580.0 million, lower than $609.7 million last year.
Further, for fiscal 2026, G-III Apparel expects net income between $192.0 million and $197.0 million, or between $4.15 and $4.25 per share. In the prior year, net income on a reported basis was $193.6 million or $4.20 per share and adjusted basis was $203.6 million or $4.42 per share.
Net sales for the year are expected to be approximately $3.14 billion, lower than prior year's $3.18 billion.
Analysts expect earnings of $4.10 per share on sales of $3.23 billion for the year.
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