Why G-III Apparel Stock Was Falling Today [Yahoo! Finance]
G-III Apparel Group, LTD. (GIII)
Last g-iii apparel group, ltd. earnings: 3/19 07:00 am
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Source: Yahoo! Finance
As a result, G-III stock was down 13.1% on the news as of 3:19 p.m. ET. G-III comes up short in Q4 G-III, which licenses and owns several apparel brands, said that revenue in the quarter fell 10.5% to $764.8 million, which was well below estimates of $817.5 million. The company slashed its inventories in the quarter, which fell 27%, as part of a strategy to shore up margins as gross margin jumped from 33% to 36.8%. The company also credited its margin expansion to the growth of its higher-margin, owned brands like DKNY, Karl Lagerfeld, and Vilebrequin. These made up 47% of net sales, compared to 40% in the quarter a year ago. Improving margins also helped drive adjusted earnings per share up from $0.41 to $0.76, which was better than estimates of $0.67. CEO Morris Goldfarb also noted the company's improving financial position saying, "Our diverse business model and disciplined operating approach has allowed us to further strengthen our credit profile as we ended the year in
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GIII
News
- G-III Apparel Group (NASDAQ:GIII) shareholder returns have been respectable, earning 89% in 1 year [Yahoo! Finance]Yahoo! Finance
- DKNY STEPS UP TO THE PLATE WITH AN ICONIC BILLBOARD AT YANKEE STADIUM [Yahoo! Finance]Yahoo! Finance
- DKNY STEPS UP TO THE PLATE WITH AN ICONIC BILLBOARD AT YANKEE STADIUMPR Newswire
- G-III Apparel Group Full Year 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- G-III Apparel Group, Ltd. (NASDAQ: GIII) had its "market perform" rating re-affirmed by analysts at Telsey Advisory Group. They now have a $29.00 price target on the stock.MarketBeat
GIII
Earnings
- 3/14/24 - Beat
GIII
Sec Filings
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- GIII's page on the SEC website