G-III Apparel Group posts sales and earnings growth

G-III’s net sales for the first quarter were 609.7 million dollars , while net income rose to 5.8 million dollars or 12 cents per diluted share versus the prior year’s quarter.

Non-GAAP net income per diluted share was 12 cents for the quarter compared to 13 cents in the same period last year.

Commenting on the first quarter results, Morris Goldfarb, G-III’s chairman and CEO said: “We had a strong start to fiscal 2025, delivering first quarter earnings per diluted share well ahead of our expectations. Our performance was driven by double-digit increases in DKNY and Karl Lagerfeld along with a successful relaunch of Donna Karan.”

Donna Karan relaunch boosts earnings

For fiscal 2025, the company expects net sales of approximately 3.20 billion dollars and net income between 170 million dollars and 175 million dollars or between 3.58 dollars and 3.68 dollars per diluted share.

Non-GAAP net income is expected to be between 170 million dollars and 175 million dollars or between 3.58 dollars and 3.68 dollars per diluted share and adjusted EBITDA is expected to be between 295 million dollars and 300 million dollars.

For the second quarter, the company expects net sales of approximately 650 million dollars and net income to be in the range of 10 million dollars and 15 million dollars or 22 cents and 32 cents per share. Non-GAAP net income is expected to be between 10 million dollars and 15 million dollars or between 22 cents and 32 cents per share.

“This morning’s announcement of the amendment and extension of our ABL credit facility further solidifies our financial position. With approximately 1 billion dollars in cash and availability, we are well positioned to continue to invest in our brands and infrastructure to drive long-term growth and shareholder value,” added Goldfarb.