G-Iii Apparel Group Ltd - GIII STOCK NEWS

G-III Apparel Group and Inter Parfums have signed a long-term global licensing agreement to create and distribute fragrances under the Donna Karan and DKNY brands, effective July 1, 2022. Inter Parfums gains exclusive rights to these well-established brands, which include popular fragrances such as Cashmere Mist and Be Delicious. Both companies aim to leverage their market strengths to expand their fragrance portfolios and tap into a loyal consumer base worldwide. New fragrance launches under these brands are planned for 2023.

G-III Apparel Group, Ltd. has announced the acquisition of European luxury fashion brand Sonia Rykiel. This move aims to expand G-III’s presence in the luxury market, with plans to relaunch the brand in Europe by fall 2022. The transaction is expected to finalize by the end of October 2021. G-III intends to leverage its management expertise and supply chain capabilities to enhance Sonia Rykiel’s growth across various categories, including apparel and accessories. This acquisition aligns with G-III's strategy to unlock significant potential in the luxury sector.

G-III Apparel Group reported second-quarter fiscal 2022 net sales of $483.1 million, a 62.5% increase from $297.2 million year-over-year. The company achieved net income of $19.2 million or $0.39 per diluted share, reversing the prior year’s loss of $15.0 million or ($0.31) per share. G-III has raised its fiscal year 2022 guidance, expecting net sales of approximately $2.70 billion and net income between $155.0 million to $165.0 million. The company ended the quarter with around $900 million in cash and credit availability.

G-III Apparel Group, Ltd. (NASDAQ: GIII) will release its second quarter fiscal 2022 earnings before the market opens on September 2, 2021. Management will discuss the results in a conference call at 8:30 a.m. ET on the same day, followed by a Q&A session. Investors can access the live webcast at ir.g-iii.com. A replay will be available starting at 11:30 a.m. ET on the same day.

G-III Apparel Group, Ltd. (NasdaqGS: GIII) announced the transition of Wayne Miller from Chief Operating Officer to Senior Strategic Advisor, effective July 1, 2021. Miller will support the company during the transition and continue to advise on corporate strategy. Chairman and CEO Morris Goldfarb expressed gratitude for Miller's 23 years of service, highlighting his role in G-III's growth and brand development. G-III maintains a robust portfolio of over 30 brands, including DKNY and Calvin Klein, and operates across various sectors including team sports.

G-III Apparel Group reported a strong first quarter for fiscal 2022, with net sales rising 28.3% to $519.9 million, compared to $405.1 million last year. Net income soared to $26.3 million ($0.53 per share) from a net loss of $39.3 million ($0.82 per share) in the previous year. The company has restructured its retail operations, closing underperforming stores. Looking ahead, G-III forecasts net sales of approximately $2.57 billion and net income between $125 million and $135 million for fiscal 2022. However, guidance is subject to changes due to potential COVID-19 restrictions.

G-III Apparel Group, Ltd. (NASDAQ: GIII) is set to release its first quarter fiscal 2022 earnings on June 7, 2021, before the market opens. A conference call will follow at 8:30 a.m. ET for discussing the results, alongside a Q&A session. The call can be accessed via a live webcast on their investor relations site. G-III, known for a diverse portfolio including brands like DKNY and Tommy Hilfiger, anticipates potential risks related to market conditions, foreign manufacturing, and economic uncertainty. They emphasize the importance of staying informed through upcoming earnings updates.

G-III Apparel Group reported a significant decline in financial performance for FY 2021, with net sales dropping 35% to $2.06 billion and net income of $23.5 million ($0.48 per share) compared to $143.8 million ($2.94 per share) the previous year. The fourth quarter saw a 30.3% decrease in sales to $526.2 million and net income of $14.6 million ($0.30 per share). The company continues to restructure, closing Wilsons Leather and G.H. Bass stores, leading to hefty losses. Moving into FY 2022, guidance projects first-quarter sales of around $460 million, a recovery from last year's $405.1 million.

G-III Apparel Group, Ltd. (NASDAQ: GIII) announced its upcoming release of fourth quarter and full fiscal year 2021 earnings on March 18, 2021, before market opening. A conference call will follow at 8:30 a.m. ET for discussion and Q&A. Investors can access a live webcast at ir.g-iii.com. A replay will be available from March 18 to March 25, 2021.