US: Double-digit sales boosts G-III Apparel Q4 earnings
- Q4 earnings up 62%
- Sales climb 26%
G-III Apparel Group reported a 62% increase in earnings for the fourth quarter, boosted by strong double-digit revenue growth.
In the three months to the end of January, GAAP net income reached US$13.1m from $8.1m a year earlier.
Sales were up 26% to a record level of $472.8m from $375.3m in the fourth quarter last year, driven by broad strength across all categories and tiers of distribution, as well as by the recently acquired GH Bass & Co. business.
CEO Morris Goldfarb said: "Fiscal 2014 was an excellent year. We continued to grow at a fast pace, executed our strategic plan for Vilebrequin, acquired G.H. Bass & Co. and produced both strong sales growth and increased profitability. We are pleased to have performed well throughout the year and finished up fiscal 2014 with record breaking results for sales and earnings."
For fiscal 2015, the company is forecasting sales of around $2.05bn and net income of between $85.2m and $88.5m, or between $3.95 and $4.10 per diluted share.
US apparel giant PVH Corp's Insignia Design Group has been granted licensing rights to launch a neckwear collection this summer under G-III Apparel Group?'s Vilebrequin brand....
- Yuan devaluation impact mixed for garment firms
- Will Vietnam struggle with impending trade deals?
- Nicaragua apparel and shoe firms to double in size
- The new age of disruption on apparel production
- China devaluation: what’s the big deal?
- H&M scaling up living wage effort to key suppliers
- Myanmar approves first minimum wage
- US Q2 in brief: G-III, Shoe Carnival, J Crew
- EU clothing buyers should brace for higher prices
- Adidas seeking to resolve shoe supplier dispute
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Ethiopia – the emerging textile and clothing industry
- Global market review of lingerie - forecasts to 2020
- Global market review of denim and jeanswear – forecasts to 2020