G-III Apparel Group is a leading apparel manufacturer and distributor renowned for its diverse range of clothing and accessories. The company designs, produces, and markets a variety of products under licensed brands, including jackets, dresses, and sportswear, alongside its proprietary labels. G-III has established partnerships with several well-known fashion brands, allowing it to create innovative and stylish collections that cater to a wide audience. Through its commitment to quality and trend-forward designs, the company has positioned itself as a significant player in the fashion industry, serving both retailers and consumers.
Shares of fashion conglomerate G-III (NASDAQ:GIII)
jumped 6.8% in the morning session after the company reported impressive third-quarter results that exceeded analysts' operating profit expectations. Its gross margin also narrowly outperformed Wall Street's estimates. Revenue was in line, and the company reconfirmed its full-year revenue guidance, signaling that management is staying on track. Even better, the company increased its earnings forecast for the year. Overall, this was a strong quarter.
Fashion conglomerate G-III (NASDAQ:GIII) missed Wall Street’s revenue expectations in Q3 CY2024 as sales only rose 1.8% year on year to $1.09 billion. The company’s full-year revenue guidance of $3.15 billion at the midpoint came in 1.5% below analysts’ estimates. Its non-GAAP profit of $2.59 per share was 13.4% above analysts’ consensus estimates.
US stock futures declined on Tuesday as dollar rose to 106.357 level. Expectations of a December rate cut increased to 86.1%. Negative breadth in S&P 500 continued for sixth day.
Explore TJX Companies and Ross Stores to see which off-price retail stock offers greater upside in 2025. Analyze their performance and growth potential.
Over the last six months, G-III’s shares have sunk to $29.12, producing a disappointing 6.2% loss - a stark contrast to the S&P 500’s 14% gain. This may have investors wondering how to approach the situation.
In Q2 of 2024, Ross's revenue increased to $10.1 billion year-to-date (YTD), up from $9.4 billion in the first half of 2023, with comparable sales up 3% YoY.
G-III Apparel Group, Ltd. (Nasdaq: GIII) (“G-III” or the “Company”), a global leader in fashion, today announced an increased investment in All We Wear Group (“AWWG” or “Group”), which owns the iconic brands Pepe Jeans London, Hackett, and Façonnable. The previously disclosed strategic partnership for an ownership stake of 12%, now increases to approximately 19%.
G-III Apparel Group reported lower sales of $609.7 million and adjusted EPS of $0.12 for Q1 FY25. It also announced strategic partnership with AWWG and sees FY25 sales of $3.20 billion. G-III Apparel provided weak Q2 forecast.
