G-III Apparel Group Ltd. slightly cut its sales forecasts for the year ended January 31, 2007, but maintained its projected earnings estimates. Overall results will come in substantially ahead of prior year results.
In announcing preliminary results, the company said it expects net sales between $425 million and $428 million, net income of $12.5 million to $13.5 million, and earnings per share of 90 cents to 95 cents for the year.
On December 6, the company projected sales of $430 million and earnings between 90 cents and 95 cents a share. Last year, G-III earned $7.1 million, or 58 cents a share, on sales of $324 million.
