Free Post Earnings Research Report: G-III Apparel’s Quarterly Sales Jumped 18.5%; Turned Profitable Y-O-Y

LONDON, UK / ACCESSWIRE / April 25, 2018 / Active-Investors.com has just released a free earnings report on G-III Apparel Group, Ltd (NASDAQ: GIII). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GIII. G-III Apparel reported its fourth quarter and fiscal 2018 operating and financial results on March 22, 2018. The clothing and accessories maker surpassed top- and bottom-lines expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year 2019. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, G-III Apparel most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the fourth quarter ended January 31, 2018, G-III Apparel's net sales increased by 18.5% to $715 million from $603 million in Q4 FY17. This included net sales of approximately $85 million related to operating Donna Karan business (DKI) business in the reported quarter compared to approximately $28 million in sales from the two months of the prior year that the Company owned this business. The remainder of the y-o-y increase in net sales for the reported quarter reflected strength in the Company's wholesale business, including new product launches. G-III's reported numbers topped analysts' estimates of $709.6 million.

G-III Apparel's gross profit percentage was 36.3% for Q4 FY18 compared to 32.8% in Q4 FY17. In the reported quarter, the Company's total selling, general, and administrative (SG&A) expenses increased to $219 million from $200 million in Q4 FY17. The increase was primarily attributable to the DKI, which was only included for 2 months in the prior year's same quarter.

G-III Apparel reported GAAP net loss of $542,000, or $0.01 per share, in Q4 FY18 compared to a net loss of $20.1 million, or $0.42 per share, in Q4 FY17.

G-III Apparel's non-GAAP net income per diluted share was $0.26 for Q4 FY18 compared to a net loss of $0.16 per share in Q4 FY17. The Company's non-GAAP net income excluded professional fees related to the acquisition of DKI of $230,000 in Q4 FY18 and $5.2 million in Q4 FY17; non-cash imputed interest expense related to the note issued to seller as part of the consideration for the acquisition of DKI of $1.4 million in Q4 FY18 and $1.0 million in Q4 FY17, transitional expenses related to the acquisition of DKI of $56,000 in Q4 FY18 and $3.9 million in Q4 FY17; asset impairments primarily related to leasehold improvements and furniture and fixtures at certain of the Company's retail stores of $7.9 million in Q4 FY18 and $10.5 million in Q4 FY17; and income tax charges of $7.5 million related to the one-time effect of the enactment of the Tax Cuts and Jobs Act in Q4 FY18. The aggregate effect of these exclusions was equal to $0.27 per diluted share in Q4 FY18 and $0.26 per diluted share in Q4 FY17. G-III Apparel's earnings beat Wall Street's estimates of $0.16 per share.

G-III Apparel's net sales for the fiscal year ended January 31, 2018, increased 17.6% to $2.81 billion from $2.39 billion in FY17.

G-III Apparel reported GAAP net income of $62.1 million, or $1.25 per diluted share, for FY18 compared to $51.9 million, or $1.10 per diluted share, in FY17. The Company's non-GAAP net income per diluted share was $1.60 for FY18 compared to $1.42 in FY17.

Segment Results

During Q4 FY18, G-III Apparel's net sales from its wholesale operations segment increased 17% to $566 million from $484 million in Q4 FY17. Net sales from the Company's DKI product lines accounted for $49 million of this increase. The Company's gross profit percentage in its wholesale operations segment was 29.5% compared to 26% in the previous year's same quarter.

For Q4 FY18, net sales of G-III Apparel's retail operations segment increased 3.6% to $178 million from $172 million. The gross profit percentage in the retail operations segment was 51.4% compared to 41.8% in the prior year quarter. This increase in gross profit percentage was due significantly to an increase in gross profit percentage at Wilsons and G.H. Bass.

G-III Apparel operated 44 fewer stores at the end of Q4 FY18 compared to the end of fiscal 2017.

Outlook

For fiscal 2019, G-III Apparel is forecasting net sales of approximately $2.94 billion and net income between $97 million and $102 million, or between $1.90 and $2.00 per diluted share. The Company is anticipating non-GAAP net income for fiscal year 2019 between $101 million and $106 million, or between $1.98 and $2.08 per diluted share.

For the first fiscal quarter ending April 30, 2018, G-III Apparel is forecasting net sales of approximately $570 million and a net loss between $2.0 million and $7.0 million, or $0.04 to $0.14 per share. On an adjusted basis, excluding non-cash imputed interest, G-III Apparel is forecasting a non-GAAP net loss between $0.02 and $0.12 per share.

Stock Performance Snapshot

April 24, 2018 - At Tuesday's closing bell, G-III Apparel's stock was slightly up 0.20%, ending the trading session at $35.12.

Volume traded for the day: 442.58 thousand shares.

Stock performance in the last month –up 0.80%; previous six-month period –up 34.25%; and past twelve-month period –up 44.23%

After yesterday's close, G-III Apparel's market cap was at $1.81 billion.

Price to Earnings (P/E) ratio was at 25.01.

The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Clothing industry.

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