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Barclays Sees Risks From Price Sensitive Consumers For G-III Apparel

·1 min read
  • Barclays analyst Paul Kearney has reiterated an Equal Weight rating on the shares of G-III Apparel Group Ltd (NASDAQ: GIII) and reduced the price target from $22 to $18.

  • The company’s second-quarter EPS of $0.39 missed the analyst consensus of $0.47.

  • The retailer became the sole owner of clothing and accessories brand Karl Langerfeld brand by acquiring the remaining 81% stake for €200 million.

  • Excluding the addition of Karl Langerfeld brand into 2H results, the analyst sees the potential for organic sales and margin pressure from an increasingly promotional retail environment.

  • While GIII does not believe it needs to promote in the back half, Kearney sees risks should consumers become increasingly price sensitive.

  • Price Action: GIII shares are trading higher by 3.61% at $18.65 on the last check Friday.

Latest Ratings for GIII

Date

Firm

Action

From

To

Jun 2021

Telsey Advisory Group

Maintains

Market Perform

Mar 2021

Keybanc

Maintains

Overweight

Dec 2020

Keybanc

Maintains

Overweight

View More Analyst Ratings for GIII

View the Latest Analyst Ratings

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