NEW YORK – G-III Apparel Group, Ltd. (NASDAQ:) reported better-than-expected second-quarter results and raised full-year guidance, sending shares up 1% in early trading.
The apparel maker posted adjusted earnings per share of $0.52 for the quarter ended July 31, significantly beating analyst expectations of $0.27. Revenue came in at $644.8 million, slightly below the consensus estimate of $649.14 million, but only 2% lower year-over-year despite a challenging retail environment.
G-III’s Chairman and CEO Morris Goldfarb cited strong performance from its own brands DKNY and Karl Lagerfeld, which collectively grew double digits. He also noted the successful relaunch of the Donna Karan brand.
Looking ahead, the company raised its full-year earnings outlook and now expects adjusted earnings per share of $3.95-$4.05, up from the prior guidance of $3.58-$3.68 and above analyst estimates from $3.66. G-III maintained its revenue guidance of $3.2 billion for fiscal year 2025.
“Despite the uncertain macroeconomic environment, we remain optimistic about the remainder of the year and our order book is well positioned for the important fall and holiday seasons,” Goldfarb said.
The company also announced a new global apparel licensing agreement with Converse, launching in fall 2025.
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