While reporting financial results for the first quarter on Friday, G-III Apparel Group, Ltd. (GIII) provided its earnings, adjusted earnings and net sales guidance for the second quarter and raised its earnings and adjusted earnings outlook for full-year 2027, based on strong first-quarter results.
For the second quarter, the company expects earnings and adjusted earnings in a range of $0.15 to $0.25 per share on net sales of about $570 million.
Looking ahead to fiscal 2027, the company now projects earnings in a range of $3.85 to $3.95 per share and adjusted earnings in a range of $2.15 to $2.25 per share, up from the prior earnings and adjusted earnings forecast range of $2.00 to $2.10 per share.
The Company said its updated outlook assumes that tariffs for the remainder of the year will approximate those rates that existed under the IEEPA tariff regime. Additionally, the Company's outlook does not include any impact related to its pending transaction to acquire Marc Jacobs.
For the first quarter, the company reported net income of $66.53 million or $1.50 per share, sharply higher than $7.76 million or $0.17 per share in the prior-year quarter. Excluding items, adjusted loss was $0.21 per share, compared to $0.19 per share in the year-ago quarter.
Net sales for the quarter declined 8 percent to $535.96 million from $583.61 billion in the same quarter last year.
In Friday's pre-market trading, GIII is trading on the Nasdaq at $33.60, up $1.56 or 4.87 percent.
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