Outerwear and sportswear brand G-III Apparel Group has posted net sales of US$69.1m and a net loss of $1.7m, compared to net sales of $54.6m and a net loss of $301,000 during the comparable period last year, attributed to new acquisitions.
 
For the first six-months of the year the company reported net sales of $83.5m and a net loss of $10.6m, compared to net sales of $68.3m and a net loss of $5.0m in the comparable period last year.

The seasonal loss in the second quarter and first six months of fiscal 2007 was higher than last year primarily due to the inclusion of the results of the two companies acquired in July 2005, the company noted.
 
G-III's CEO Morris Goldfarb said: "We continue to see broad-based strength in our business. In addition to a strong outerwear business across our portfolio of licenses, we are very excited about our recent initiatives in the women's suit, dress, and sportswear categories.

"We believe that we are continuing on the path toward transforming our business into a highly diversified, all-season apparel company."
 
In its outlook for the full year ending January 31, G-III is now forecasting net sales of approximately $410m, comparing to a previous guidance of $400m.