G-III Apparel Group Reports $2.96B in Net Sales for Fiscal 2026

By Chris Stiles • Thursday, March 12 10:56 • Permanent Link

G-III Apparel Group, Ltd. has reported its financial results for the fourth quarter and full year fiscal 2026, as well as provided an outlook for fiscal 2027. The company's net sales for fiscal 2026 were $2.96 billion, reflecting a 7% decrease compared to the prior year. Notably, the fiscal 2026 net sales were impacted by lost sales from PVH brands, amounting to $254 million, while key owned brands saw an increase in sales in the mid-single digits.

Reported EPS for fiscal 2026 was $1.51, and non-GAAP EPS stood at $2.61, inclusive of a $0.30 impact from bad debt expense related to the Saks Global bankruptcy. The company's year-end cash amounted to $407 million, with a return of capital to shareholders totaling over $50 million in fiscal 2026, including share repurchases and dividend payments.

The balance sheet and capital allocation also saw significant changes, with cash and cash equivalents increasing to $406.7 million from $181.4 million in the previous year, while inventories decreased by 3.8% to $460.0 million. Additionally, the company initiated a $25 million run-rate cost savings initiative in fiscal 2026.

Looking ahead to fiscal 2027, G-III Apparel Group, Ltd. expects net sales to be approximately $2.71 billion, taking into account the loss of $470 million of sales from Calvin Klein and Tommy Hilfiger products. The company anticipates net income to range between $88.0 million and $92.0 million, or diluted earnings per share between $2.00 and $2.10 for fiscal 2027, compared to net income of $67.4 million, or $1.51 per diluted share for fiscal 2026. Non-GAAP net income for fiscal 2027 is also expected to be between $88.0 million and $92.0 million, or diluted earnings per share between $2.00 and $2.10, compared to non-GAAP net income of $116.2 million, or diluted earnings per share of $2.61 for fiscal 2026. Adjusted EBITDA for fiscal 2027 is forecasted to be between $158.0 million and $162.0 million, down from $192.4 million in fiscal 2026.

As a result of these announcements, the company's shares have moved -2.05% on the market, and are now trading at a price of $30.05. If you want to know more, read the company's complete 8-K report here.

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