US: G-III Apparel Q1 earnings and sales climb
- Q1 net income up 18.2%
- Net sales climb 34%
G-III Apparel Group has booked an increase in first-quarter profit and upped its sales and earnings guidance for the full year.
In the three months to the end of April, net income amounted to US$1.3m, an 18.2% increase on earnings of $1.1m in the prior year. The results included expenses related to the transition and repositioning of its recently acquired GH Bass business.
Net sales increased 34% to $366.2m from $272.6m in the year-ago period. Of this, $44.2m represented sales from GH Bass, acquired in November last year.
"We finished the quarter with good momentum, clean inventories and a solid mix of growth opportunities," said CEO Morris Goldfarb. "There were strong performances by a number of our Calvin Klein divisions, Vilebrequin and several of our dress businesses, all of which enabled us to exceed our forecast for the first quarter."
The company said it is now forecasting net sales of around $2.06bn and net income of between $87.9m and $91.2n. This compares to its previous guidance of net sales of $2.05bn and net income of between $85.2m and $88.5m.
Lingerie is a term used for women's innerwear. It originated from the French word 'linge' for linen. Though in French the term is used for both male and female undergarments, in English it is solely u...
This report provides information, analysis and valuable insight on developments relating to the global apparel industry in the following categories: corporate social responsibility (CSR); financial re...
This report provides information, analysis and valuable insight on developments relating to the global apparel industry in the following categories: acquisitions, divestments and mergers; corporate so...
US apparel giant PVH Corp has said it is "pleased" with its fourth-quarter performance which saw it swing to a net profit, despite the challenging market environment and foreign currency headwinds....
India is one of the most attractive retail targets globally and represents a huge untapped market for lingerie. The term lingerie is mainly used for fashionable and alluring undergarments. Novelty, an...
- The new age of disruption on apparel production
- Will Vietnam struggle with impending trade deals?
- Yuan devaluation impact mixed for garment firms
- China devaluation: what’s the big deal?
- Kurt Cavano on “the Uberfication of everything”
- US Q2 in brief: J Crew, Aeropostale, Bebe Stores
- Adidas seeking to resolve shoe supplier dispute
- Stock-out paradox persists despite data overload
- New fabric protection with battlefield beginnings
- Gerber launches Mauritius apparel programme
- 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 swimwear - forecasts to 2019