G-III Apparel Group, Ltd. reported Q3 sales increased by 10.8% to $271.2 million from $244.7 million in the same quarter of last year. Net income rose slightly to $23.8 million, or $1.41 a share, from $23.3 million, or $1.59, in the prior year’s period.

The results for the quarter were consistent with the Company’s prior expectations and reinforced its confidence in its prior guidance for the full fiscal year ending on January 31, 2008.

For the nine months ended October 31, sales increased by 18.9% to $390.2 million from $328.2 million. Net income climbed to $16.4 million, or 99 cents a share, from $12.7 million, or 93 cents, a year ago.

Morris Goldfarb, chairman and CEO, said, “We are pleased with our third quarter and nine month performance. Although our business is increasingly diversified, the outerwear category is still key to our ability to generate strong full-year results. Retail sales of outerwear have begun to accelerate which we believe is due to the onset of cooler seasonal weather patterns.”

Goldfarb continued, “We continue to be excited about our new business initiatives, particularly in the dress category. Dresses are the fastest growing portion of our product assortment. As we move into the Spring season, we expect to accelerate the pace of our business in the dress market and to further develop our portfolio of licenses and private label brands in that category.”

Goldfarb concluded, “As we move forward into next year, we expect to further expand our business by category and by tier of distribution. We are committed to our strategy of building G-III into a four season apparel company serving the major tiers of distribution.”