USA: G-III Apparel Expects Solid 2002
Clothing manufacturer G-III Apparel Group Ltd said on Friday it expects to perform well for the rest of the year after posting a sharp fall in first quarter net sales and wider losses. The leather and outerwear company said in a statement that it had cleared out excess inventory and sees improved results for the rest of 2002 after its first quarter net loss climbed $4.2 million, or 62 cents per share, from a loss of $2.9m, or 44 cents per share, in 2001. Sales fell to $12.7m from $17.2m.
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