G-III Apparel Q1 Revenue Up 0.5%

G-III Apparel Group, Ltd. just released its first-quarter fiscal 2025 results, showing a slight increase in net sales from $606.6 million last year to $609.7 million in the current quarter. The company reported a net income of $5.8 million, or $0.12 per diluted share, compared to $3.2 million, or $0.07 per diluted share, in the same period last year.

The company also made an upward revision to its guidance for the fiscal year 2025, with expected net sales of approximately $3.20 billion and net income between $170.0 million and $175.0 million, or between $3.58 and $3.68 per diluted share. This compares to net sales of $3.10 billion and net income of $176.2 million, or $3.75 per diluted share, for fiscal 2024. Non-GAAP net income for fiscal 2025 is expected to be between $170.0 million and $175.0 million, or between $3.58 and $3.68 per diluted share, compared to non-GAAP net income of $189.8 million, or $4.04 per diluted share, for fiscal 2024.

For the second quarter of fiscal 2025, the company expects net sales of approximately $650.0 million compared to $659.8 million in the same period last year. Net income is expected to be in the range of $10.0 million and $15.0 million, or $0.22 and $0.32 per share, compared to net income of $16.4 million, or $0.35 per diluted share, in last year’s second quarter. Non-GAAP net income for the second quarter of fiscal 2025 is expected to be between $10.0 million and $15.0 million, or between $0.22 and $0.32 per share, compared to non-GAAP net income of $18.6 million, or $0.40 per diluted share, for the second quarter of fiscal 2024.

The company's Chairman and CEO, Morris Goldfarb, expressed satisfaction with the first-quarter performance and highlighted the successful relaunch of Donna Karan, along with investments in brands like DKNY and Karl Lagerfeld. The company's recent partnership and investment in all we wear group (awwg), a global fashion group, were also mentioned as strategic moves to drive growth.

G-III Apparel Group, Ltd. owns and licenses a portfolio of over 30 preeminent brands, including DKNY, Karl Lagerfeld, Donna Karan, and Vilebrequin, and licenses over 20 other brands including Calvin Klein, Tommy Hilfiger, Nautica, and Halston. The market has reacted to these announcements by moving the company's shares -14.1% to a price of $26.88. Check out the company's full 8-K submission here.

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