G-III Apparel’s Fan Apparel Delivers Strong Year

June 4, 2015
SGB Update

G-III Apparel Group reported earnings rose 70.2 percent in its fourth quarter ended Jan. 31, to $22.2 million, or 96 cents a share. Revenue grew 8.8 percent to $514.3 million.

For the year, profits jumped 42.7 percent to $110.4 million, or $4.97 a share. Revenues increased 23.1 percent to $2.12 billion. It had projected earnings between $4.65 to $4.80 on sales of $2.13 billion.

On a conference call with analysts, Morris Goldfarb, CEO, president and chairman, said outerwear, which he described as “relatively mature and highly diversified,” achieved plan this year. Standouts in women's outerwear were Calvin Klein, Andrew Marc, Kenneth Cole, Tommy Hilfiger, Cole Haan and Jessica Simpson while Calvin Klein, Tommy Hilfiger and Levi's led men’s.

Goldfarb added that Team Sports, its fan apparel business, “also finished another good year.” The business includes G-III Sports by Carl Banks, including Starter satin jackets, as well as Touch by Alyssa Milano.

Good growth also came from sportswear, dresses and women’s suits, all led by Calvin Klein.

Goldfarb noted that G-III completed the integration and repositioning of the G.H. Bass business, which was acquired in the fourth quarter of 2013. The company last week signed Genesco as its U.S. licensee partner for Bass, beginning in 2016, The Bass retail business has also revived with comps ahead 15.4 percent in the fourth quarter. Wilsons’ fourth-quarter comps grew 5.5 percent.

Goldfarb said that while G-III has opportunities for organic growth in 2015, it will continue to pursue acquisitions. He said, “We have excellent access to strategic capital and a strong and lengthy track record of successfully supplementing our organic growth with good fit acquisitions.”

G-III expects EPS for the coming year to range between $5.05 and $5.25 a share. Sales are expected to reach $2.37 billion. For the first fiscal quarter, earnings are expected to come in between 5 to 15 cents a share on sales of approximately $406 million. That compares to net income of $1.3 million, or 6 cents, on sales of $366.2 million.

G-III Apparel’s Fan Apparel Delivers Strong Year

March 25, 2015
SGB Executive SGB Update
by

G-III Apparel Group reported earnings rose 70.2 percent in its fourth quarter ended Jan. 31, to $22.2 million, or 96 cents a share. Revenue grew 8.8 percent to $514.3 million.

For the year, profits jumped 42.7 percent to $110.4 million, or $4.97 a share. Revenues increased 23.1 percent to $2.12 billion. It had projected earnings between $4.65 to $4.80 on sales of $2.13 billion.

On a conference call with analysts, Morris Goldfarb, CEO, president and chairman, said outerwear, which he described as “relatively mature and highly diversified,” achieved plan this year. Standouts in women's outerwear were Calvin Klein, Andrew Marc, Kenneth Cole, Tommy Hilfiger, Cole Haan and Jessica Simpson while Calvin Klein, Tommy Hilfiger and Levi's led men’s.

Goldfarb added that Team Sports, its fan apparel business, “also finished another good year.” The business includes G-III Sports by Carl Banks, including Starter satin jackets, as well as Touch by Alyssa Milano.

Good growth also came from sportswear, dresses and women’s suits, all led by Calvin Klein.

Goldfarb noted that G-III completed the integration and repositioning of the G.H. Bass business, which was acquired in the fourth quarter of 2013. The company last week signed Genesco as its U.S. licensee partner for Bass, beginning in 2016, The Bass retail business has also revived with comps ahead 15.4 percent in the fourth quarter. Wilsons’ fourth-quarter comps grew 5.5 percent.

Goldfarb said that while G-III has opportunities for organic growth in 2015, it will continue to pursue acquisitions. He said, “We have excellent access to strategic capital and a strong and lengthy track record of successfully supplementing our organic growth with good fit acquisitions.”

G-III expects EPS for the coming year to range between $5.05 and $5.25 a share. Sales are expected to reach $2.37 billion. For the first fiscal quarter, earnings are expected to come in between 5 to 15 cents a share on sales of approximately $406 million. That compares to net income of $1.3 million, or 6 cents, on sales of $366.2 million.

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