G-III Apparel Group (GIII) reported third quarter net income of $2.16 after the close Wednesday, which was flat with the prior year result. The consensus estimate was for EPS of $2.14. The company now expects to report full year 2012 EPS of $2.50 to $2.60, down from prior expectations of $3.05 to $3.15. The consensus estimate is for EPS of $2.80.
G-III Apparel Group gapped up sharply Thursday and climbed during the second half of the morning. Shares finished higher by 3.66 at $24.02 on the highest volume of the year. The stock rose to nearly a one-month high and re-crossed its 50-day moving average.
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