Outerwear and sportswear manufacturer G-III Apparel Group Ltd has posted a net loss of $3.1 million for the year to January 31, narrowed from a net loss of $4.5m in the previous 12 months.

The company, which produces apparel under licence to Timberland and Nine West, also posted higher net income of $8.4m for the year, compared with $382,000 in fiscal 2002.

CEO Morris Goldfarb said the company was "pleased" with its improved full-year results.

"The primary driver of the results was a strong performance of our sports apparel, but we were also pleased with the performance of a number of our other brands, particularly Sean Jean and Cole Haan," he said.

"While the retail environment remained challenging, we achieved our financial plan and ended the year with a strong balance sheet."

Goldfarb said G-III would focus on growing its core sports apparel business in fiscal 2004.