NEW YORK (AP) -- G-III Apparel Group Ltd.'s fiscal first-quarter loss widened, stung by higher costs as revenue improved.
The clothing maker said on Tuesday that it lost $847,000, or 4 cents per share, for the three months through April 30. That compares with a loss of $520,000, or 3 cents per share, during the same period a year ago.
The loss met the expectations of analysts surveyed by FactSet.
Revenue rose 17 percent to $229.4 million from $196.9 million, beating Wall Street's prediction of $213.4 million.
The company's cost to make its products rose 17 percent, while selling and general expenses rose 15 percent. Interest expenses also rose.
Many clothing companies have faced increasing costs on materials such as cotton and have looked for ways to trim expenses to help offset some of the financial burden.
Chairman and CEO Morris Goldfarb said in a statement that G-III expects costs to moderate this year and that the company will post a higher profit this fiscal year compared with last year.
The New York company maintained its forecast for fiscal 2013 earnings of $2.62 to $2.72 per share on revenue of approximately $1.35 billion. Analysts expect earnings of $2.70 per share on revenue of $1.33 billion for the year ending in January 2013.
For the current quarter ending in July, G-III predicts profit of 4 cents to 8 cents per share on revenue of about $250 million. Wall Street expects earnings of 8 cents per share on revenue of $249.6 million.
The company sells coats and dresses under brands such as Marc New York, and has fashion licenses for brands including Calvin Klein, Sean Jean and Kenneth Cole, as well as licenses with professional sports teams and colleges.