G-III news and archive

G-III raises earning outlook, appoints chief growth officer

G-III Apparel Group’s net sales for the third quarter decreased 1 percent to 1.07 billion dollars. The company said net income rose to 127.6 million dollars or 2.74 dollars per diluted share, while non-GAAP net income per diluted share increased to 2.78 dollars for the third quarter. G-III also announced that it has appointed Dana Perlman as its...

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G-III Apparel Group ups full-year outlook as Q2 sales rise

G-III Apparel Group has upped its full-year guidance after reporting a 9 percent increase in sales but narrowing profits in the second quarter. The group, whose portfolio includes brands Karl Lagerfeld, DKNY, and Donna Karan, generated sales of 659.8 million dollars in the three months ended July 31. That’s compared to sales of 605.2 million...

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G-III Apparel Group appoints three new board members

G-III Apparel Group has announced the appointment of three new members to its board of directors, revealed during its Annual Meeting of Stockholders. President of the Fashion Institute of Technology (FIT), Joyce Brown, is among those announced, bringing to the board over 40 years of experience in public higher education. Brown has additionally...

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G-III ups FY outlook, announces licensing deal with Halston

G-III Apparel Group has upped its full-year revenue and profit outlook after exceeding both its top and bottom line guidance in the first quarter. Net sales for the first quarter ended April 30 dropped 11.9 percent to 606.6 million dollars, while net income narrowed to 3.2 million dollars from 30.6 million dollars. The group, whose portfolio...

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Authentic Brands Group signs licensing deal with G-III for Nautica womenswear

Authentic Brands Group (Authentic) has announced the signing of a strategic and long-term licensing deal with G-III Apparel Group for Nautica’s womenswear apparel. Beginning January 2024, the agreement will see G-III design, manufacture and distribute the brand’s sportswear, jeans, tailored clothing and dresses for women in the US and Canada....

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G-III revenue up 14 percent in Q4, but swings to loss

G-III Apparel Group swung to a loss in the fourth quarter ended January 31 despite revenue increasing 14.2 percent year-on-year. The Nasdaq-listed company, whose portfolio includes brands Karl Lagerfeld, DKNY, and Donna Karan, made a net loss of 261.1 million dollars compared to a profit of 48.4 million dollars a year earlier. That came as...

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G-III reports increase in Q3 sales, but profits narrow

G-III Apparel Group has reported a drop in profit in the third quarter of the year amid logistical issues at its distribution centers. The Nasdaq-listed group posted net profit of 61.1 million dollars in the three months to October 31, down from 106.7 million dollars a year earlier. Chief executive Morris Goldfarb said higher inventory levels in...

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G-III Apparel Group reports increase in Q2 sales and earnings

G-III Apparel Group has reported a 25 percent increase in net sales in the second quarter to 605.2 million dollars. The company reported net income of 36.3 million dollars or 74 cents per diluted share, compared to 19.2 million dollars or 39 cents per diluted share in the prior year’s quarter. Non-GAAP net income per diluted share was 39 cents...

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G-III Apparel Group posts strong sales growth, raises outlook

G-III Apparel Group, Ltd. net sales for the first quarter ended April 30, 2022 increased 32.5 percent to 688.8 million dollars. The company reported net income of 30.6 million dollars or 62 cents per diluted share, compared to 26.3 millions or 53 cents per diluted share, in the prior year’s quarter. Non-GAAP net income per diluted share was 72...

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G-III completes acquisition of Karl Lagerfeld brand

Fashion conglomerate G-III has announced it has completed the acquisition of the Karl Lagerfeld brand, securing the remaining 81 percent to become the sole owner. Snapping up the iconic label in a 200 million euro deal (approximately 214 million dollars), the group purchased the remaining stake from a group of private and public investors. The...

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G-III Apparel to buy eponymous label of the late Karl Lagerfeld

US fashion group G-III Apparel has announced plans to acquire the namesake brand of the late Karl Lagerfeld. The group said Monday it will snap up the remaining 81 percent stake in the label for 200 million euros (210 million US dollars) to become its sole owner. It said Karl Lagerfeld’s current leadership team will continue to lead the company,...

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G-III Apparel Group taps two new board members

G-III Apparel Group has announced the appointment of Lisa Warner Wardell and Patti H. Ongman as new board members. Wardell is currently the executive chair of the board of directors for workforce solutions provider and healthcare education company Adtalem Global Education, after previously working as the company’s CEO and chair. Meanwhile, Patti...