USA: G-III Apparel Slashes Q1 Loss On Strong Sales
The company, whose labels include Black Rivet, Colebrook and Siena Studio and has fashion licenses with firms such as Kenneth Cole, Nine West, Timberland and Jones Apparel, posted a net loss of $2.6 million, or 38 cents a share, versus $4.2m, or 62 cents, in the year-ago period.
Sales jumped 47.4 per cent to $18.7m from $12.7m and the firm said it sees second quarter net sales of $44m and earnings per share between 10 and 12 cents.
CEO Morris Goldfarb said: "We are pleased that we have begun the new fiscal year at a strong pace for what is traditionally our weakest quarter of the year.
"Our sports apparel business continues to expand both in product depth and management expertise. We have added quality personnel in design, sourcing, sales and customer service to support its continued growing retail distribution."
Sportswear line Sean John and G-III Apparel Group have signed a license deal for G-III to make and distribute the Sean John Women's sportswear collection....
Calvin Klein Inc has signed a licensing agreement with G-III Apparel Group Ltd for women's better suits in the United States, Canada, and Mexico....
Outerwear and sportswear company G-III Apparel Group Ltd has promoted Neal Nackman to the position of chief financial officer from the position of vice president, finance....
Outerwear and sportswear maker G-III Apparel Group Ltd has added two privately held outerwear businesses to its portfolio....
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