G-III Apparel Group
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G-III Apparel to restructure retail segment amid Q1 loss
Branded apparel and accessories maker G-III Apparel Group is to close all of its Wilsons Leather and GH Bass stores as it restructures its retail operations to try to reduce losses and position the segment as a profitable contributor to the business.
US Q4 in brief – Boot Barn Holdings, VF Corp, PVH Corp
In the latest fourth-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has posted a fall in both earnings and revenue, while VF Corp and PVH Corp have both reported a net loss. Elsewhere, Oxford Industries has booked its twelfth consecutive quarter of positive comparable sales, while G-III Apparel Group saw profit rise but revenue fall.
Global retail staff and salary reductions amid Covid-19 – Update
As the impact of the coronavirus pandemic spreads across the apparel and footwear industry, brands and retailers are moving from store closures to worker lay-offs or furloughs, as well as executive pay cuts. Here are the latest:
US Q3 in brief –Boot Barn Holdings, VF Corp, Genesco
In the latest third-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has delivered an increase in both profit and revenue with the company "well-positioned" to deliver a solid finish to fiscal 2020, Stage Stores has narrowed its net loss, and American Eagle Outfitters has booked record sales. Elsewhere, J.Crew Group has announced an agreement on the terms of a transaction that will enable it to separate its J.Crew and Madewell brands into two independent companies and pursue a proposed IPO of Madewell.
US Q2 in brief – Boot Barn Holdings, VF Corp, Stage Stores
In the latest second-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has delivered what CEO Jim Conroy called an "outstanding" second-quarter, VF Corp has reaffirmed its full-year outlook, and Oxford Industries has posted its tenth consecutive quarter of consolidated comparable sales growth. Elsewhere, Genesco moved to a profit, while G-III Apparel Group has revised its full-year guidance in the wake of Trump's latest tariff hike.
US Q1 in brief – Boot Barn Holdings, VF Corp, Cherokee Global Brands
In the latest first-quarter filings from US apparel and footwear brands and retailers, VF Corp has raised its fiscal 2020 outlook, Cherokee Global Brands booked a mixed first quarter and announced it will officially rebrand to Apex Global Brands, Destination Maternity reported a challenging start to the year amid the news Marla Ryan will step down as CEO, while PVH Corp saw profits slip. Dick's Sporting Goods enjoyed higher sales as did Footlocker.
G-III Apparel mulls sourcing shift out of China
Clothing company G-III Apparel Group says it is taking a number of steps to offset the impact of the ongoing trade war between the US and China, including reducing its production in China and raising prices.
PVH inks Calvin Klein Jeans license with G-III Apparel
Apparel giant PVH Corp has inked a five-year licensing deal with G-III Apparel Group to produce and distribute Calvin Klein Jeans women’s wear collections in the US and Canada.
US Q4 in brief – VF Corp, Boot Barn Holdings, Destination Maternity
In the latest fourth-quarter filings from US apparel and footwear brands and retailers, Iconix Brand Group reported a GAAP net loss, CEO of PHV Corp, Emanuel Chirico, said the company is "very pleased" with its fourth-quarter and full year 2018 results, and Guess Inc released its first results under new CEO Carlos Alberini.
G-III taps former Bonobos CEO to lead AM Retail Group
Branded apparel and accessories maker G-III Apparel Group has named former Bonobos CEO Fran Della Badia as president of its retail subsidiary AM Retail Group.
US Q2 in brief – Boot Barn Holdings, VF Corp, Sears
In the latest second-quarter filings from US apparel and footwear brands and retailers, VF Corp raised its full-year guidance on strong sales and earnings, while L Brands reported a 28.7% drop in earnings, and Urban Outfitters achieved record second-quarter sales and a jump in profit.
US Q1 in brief – Destination Maternity, Tailored Brands, Boot Barn
In the latest first-quarter filings from US apparel and footwear brands and retailers, PVH Corp saw revenues exceed guidance thanks to strength across the business, while Guess saw continued momentum in Europe and Asia push earnings and sales up in the three months ended 5 May. Dick's Sporting Goods raised its full-year outlook and Destination XL narrowed its net losses.
US Q4 in brief – Boot Barn Holdings, Destination Maternity
In the latest fourth-quarter filings from US apparel and footwear brands and retailers, Destination Maternity narrowed its net loss, Sears was boosted by the new US tax law, Caleres returned to profit, Dick's Sporting Goods achieved growth across key businesses, and Urban Outfitters produced record fourth-quarter sales.
Donna Karan and DKNY to go fur-free
Branded apparel and accessories maker G-III Apparel Group has announced its Donna Karan and DKNY brand will no longer use animal fur in its products.
US Q3 in brief – Deckers Brands, Boot Barn Holdings
In the most recent third-quarter filings from US apparel and footwear brands and retailers, Deckers Brands exceeded expectations, while Boot Barn Holdings saw earnings nearly double. Destination Maternity, meanwhile, widened its losses.
US Q2 in brief – Finish Line, Zumiez, Tailored Brands, Vince Holding
In the most recent second-quarter filings from US apparel and footwear brands and retailers, PVH upped its full-year guidance based on strong second-quarter results, while Guess saw its results boosted by solid growth in both Europe and Asia. Oxford Industries, meanwhile, saw mixed results as earnings fell but sales edged up.
GIII and Gehring fund ink joint venture for DKNY in China
GIII Apparel Group is expanding its DKNY and Donna Karan brands into China following a joint-venture with Fred Gehring's investment fund Amlon Capital.
US Q1 in brief – Cherokee, The Finish Line, J Crew
In the most recent first-quarter filings from US apparel and footwear brands and retailers, G-III Apparel moved to a loss on acquisition charges, while Guess saw earnings fall on soft Americas sales. Kate Spade, meanwhile, saw earnings slump on the back of sales declines, while Hudson's Bay recorded comparable store declines on the back of lower domestic store traffic across all banners.
G-III Apparel inks DKNY deal in US and Canada
G-III Apparel Group has inked a multi-year licensing agreement with PVH Corp, in a move that will see the US apparel giant design and distribute menswear for the DKNY brand in the US and Canada.
US Q4 in brief – Cherokee, Vince Holding, Destination Maternity
In the most recent fourth-quarter filings from US apparel and footwear brands and retailers, Destination XL moved to a profit but booked lower sales, while Caleres moved to a loss in the quarter. VF Corporation, meanwhile, revealed a fall in both sales and earnings for the quarter, while Stein Mart moved to a loss as a result of "aggressive" promotions.
G-III Apparel taps Kennedy for Donna Karan
Branded apparel and accessories maker G-III Apparel Group has tapped Ralph Lauren's Barbara Kennedy as its president-wholesale-design, merchandising and sales for Donna Karan, following its US$650m acquisition of Donna Karan International.
G-III Apparel cuts FY outlook on weak retail sales
Branded apparel and accessories maker G-III Apparel Group has cut its full-year outlook – blaming unseasonably warm weather, lower traffic, and lower sales particularly at its Wilsons and GH Bass retail chains.
US Q3 in brief – The Finish Line, Destination Maternity, Cherokee, Sears
In the most recent third-quarter filings from US apparel and footwear brands and retailers, Sears Holdings remained optimistic despite widening its net losses, while Vince Holding blamed challenging conditions and warm weather for a fall in both earnings and sales. Abercrombie & Fitch, meanwhile, revealed a "disastrous" quarter as sales fell and earnings plummeted 80%, while American Eagle Outfitters booked record sales and its 9th consecutive quarter of profit improvement.
G-III Apparel completes US$650m Donna Karan acquisition
Branded apparel and accessories maker G-III Apparel Group has completed its US$650m acquisition of Donna Karan International, parent of the Donna Karan and DKNY brands.
US Q2 in brief - The Finish Line, Cherokee, Zumiez, Vince Holding, Tailored Brands
In the most recent second-quarter filings from US apparel and footwear brands and retailers, Tailored Brands showed improvement on Q1 but saw earnings slide, while DSW booked mixed results. Abercrombie & Fitch widened its net losses but remained optimistic, while Destination Maternity revealed improved losses. Express, meanwhile, delivered what it described as a "disappointing" second-quarter, below management expectations, and Macy's saw a "distinct" improvement in its sales and earnings trends for the quarter.
LVMH to sell Donna Karan to G-III for US$650m
Branded apparel and accessories maker G-III Apparel Group is to buy Donna Karan International, parent of the Donna Karan and DKNY brands, from luxury goods group LVHM for US$650m.
US Q4 in brief: Cherokee Global Brands, Perry Ellis, Destination Maternity
In the most recent fourth-quarter filings from US apparel brands and retailers, Destination Maternity and Perry Ellis saw their losses narrow, while New York & Co moved to a net profit. However, Iconix Brand Group cut its outlook after swinging to a loss, Finish Line saw its net profit plummet 90%, and Cherokee Global Brands posted a mixed performance.
G-III Apparel increases interest in Karl Lagerfeld
G-III Apparel Group has increased its interest in designer brand Karl Lagerfeld by taking a 19% minority stake in the parent company.
US Q3 in brief: Finish Line, Gymboree, Cherokee Global Brands, Men's Wearhouse
In the most recent third-quarter filings from US apparel brands and retailers Gymboree, Aeropostale, Sears and New York & Co narrowed their losses, while Oxford Industries, Destination Maternity and J Crew saw theirs widen. Both The Finish Line and Men's Wearhouse swung to a loss. On a positive note, The Children's Place, Express, American Eagle Outfitters, G-III Apparel Group and Abercrombie & Fitch booked higher earnings.
Tommy Hilfiger inks dress licensing deal with G-III
PVH-owned Tommy Hilfiger has entered into a licensing agreement with G-III Apparel Group for a new women's dress collection – a key growth category for the brand.
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