Benzinga | Jun 7, 2021 07:06AM EDT

G-III Apparel Group: Q1 Earnings Insights



Shares of G-III Apparel Group (NASDAQ:GIII) jumped 10% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 170.67% over the past year to $0.53, which beat the estimate of $0.15.

Revenue of $519,910,000 higher by 28.33% from the same period last year, which beat the estimate of $462,030,000.

Guidance

G-III Apparel said it expects Q2 earnings of $0.03 to $0.13 per share on sales of $470 million.

The company also sees FY22 adjusted earnings of $2.60 to $2.78 per share on sales of $2.53 billion.

Conference Call Details

Date: Jun 07, 2021

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/w2p9fjvu

Technicals

52-week high: $35.20

52-week low: $9.30

Price action over last quarter: down 9.15%

Company Overview

G-III Apparel Group Ltd is a textile company. It makes a wide range of apparel, footwear, and accessories that it sells under its own brands, licensed brands, and private-label brands. G-III has a substantial portfolio for licensed and proprietary brands, anchored by five global power brands: DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger, and Karl Lagerfeld. The company has two reportable operations: Wholesale Operations and Retail Operations. The Wholesale operations segment includes sales of products under brands licensed by us from third parties, as well as sales of products under its own brands and private label brands. The retail operations segment consists primarily of Wilsons Leather, G.H. Bass, and DKNY retail stores. It derives most of its revenues from Wholesale operations.