G-III Apparel rallies on raised EPS outlook, Converse deal

seekingalpha09-05

Shares of G-III Apparel Group (NASDAQ:GIII) were catapulted to a 3-month-high, snapping resistance at the 200-day moving average as the company’s improved profitability coupled with raised EPS outlook...

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Led by double-digit gains in the company’s DKNY and Karl Lagerfeld collections, G-III Apparel (GIII) earned an adjusted profit of $0.52 up from $0.40 a year ago and $0.25 better than expectations. Sales, however, were down 2.3% to $644.8M, $4.7M less than estimates. For the current quarter, G-III (GIII) expects profitability to improve to a range of $2.20 to $2.30, below the $2.61 consensus but up 4x sequentially. Sales are expected to climb 3% to $1.10B, falling slightly below the $1.13B consensus. FY25 profit guidance was raised to $3.95-$4.05 per share from $3.58-$3.68, initially, above the Street’s consensus of $3.66. Adjusted EBITDA was raised to $305M to $310M from $295M to $300M compared to $324.1M in FY24. Sales are expected to improve by 3% to $3.20B, unchanged from prior guidance and in-line with expectations. The company also announced a licensing agreement for Converse, a wholly owned subsidiary of Nike (NKE), to design and produce men’s and women’s apparel for global distribution. The new line is expected to launch in Fall 2025. 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