• Q1 loss narrowed to $0.5m from $1.4m
  • Net sales increased 28% to $196.9m
  • Reiterates full year guidance 

Clothing manufacturer G-III Apparel Group Ltd has reiterated its full year sales and earnings guidance after higher sales helped reduce first quarter losses.

“We continue to be pleased with the growth and health of our core businesses and with the handbag and luggage opportunities we have for the upcoming fall season,” said chairman and CEO Morris Goldfarb.

 “We have achieved our booking targets, built the capability to launch a significant and compelling business in the handbag and luggage categories, and continued to improve our ability to execute more effectively and efficiently through expansion and enhancement of our operating infrastructure.”

The company, whose brands include Andrew Marc, Marc New York and Marc Moto, said it continues to expect full-year sales of $1.2bn and net income of between $64.5m and $66.5m, or a range of $3.15 and $3.25 per share.