RTTNews | Dec 8, 2020 07:28AM EST

07:27 Tuesday, December 8, 2020 (RTTNews.com) - While reporting financial results for the third quarter on Tuesday, G-III Apparel Group, Ltd. (GIII) provided sales guidance for the fourth quarter, below analysts' expectations.

However, the Company said it is not currently providing any additional guidance as the developments associated with the COVID-19 pandemic continue to be fluid and there is significant uncertainty related to its impact.

For the fourth quarter. the company now projects a net sales decline of about 30 percent. On average, analysts polled by Thomson Reuters expect the company to report a sales decline of 26.9 percent to $551.54 million for the quarter.

As previously announced, the Company said it remains on track to complete the closing of 110 Wilsons Leather and 89 G.H. Bass stores by the end of fiscal 2021 as part of the restructuring of its retail operations segment.

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