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Today's Research Reports on Stocks to Watch: G-III Apparel Group and Macy's Inc.

NEW YORK, NY / ACCESSWIRE / June 7, 2017 / While G-III Apparel shares leaped after a positive first quarter report and raised guidance for the year, Macy's shares dropped after the company lowered its outlook for the current quarter.

RDI Initiates Coverage on:

G-III Apparel Group, Ltd.
https://ub.rdinvesting.com/news/?ticker=GIII

Macy's, Inc.
https://ub.rdinvesting.com/news/?ticker=M

G-III Apparel Group, Ltd.'s shares blew up on Tuesday and closed up 15.23% on tremendous volume compared to average. The company, which owns Donna Karan, Marc New York, and has Calvin Klein and Tommy Hilfiger as licensed brands, reported its first quarter earnings report that beat the Street. A loss of 18 cents per share was higher than last year's profit of 6 cents, but it still was way ahead of the 37-cent per share loss that analysts had called for. Revenue at $529 million was also way ahead of the $500 million that was forecasted by analysts. Looking ahead, the company has raised its outlook and expects $2.76 billion in revenue for the year as well as $1.04-1.14 per diluted share. This is in comparison to the previous outlook of $2.73 billion for revenue and 80-90 cents for EPS. CEO Morris Goldfarb stated, "We are reducing operating costs in our retail business, closing and repurposing stores and enhancing our store product offerings, all which are intended to help us significantly reduce the losses in our retail operations."

Access RDI's G-III Apparel Group Research Report at:
https://ub.rdinvesting.com/news/?ticker=GIII

Macy's, Inc.'s shares tanked on Tuesday and closed down 8.21%. Shares dived to a new 52-week low of $21.86 during intra-day trading after the company announced that its fiscal Q2 gross margin may be below expectations. CFO Karen Hoguet said in an investor meeting yesterday morning that the gross margin for the second quarter is expected to drop around 60 to 80 basis points compared to the same period one year ago. Traders were not happy with this announcement considering that in the prior quarter Macy's also saw its gross margin fall 100 basis points year over year. CEO Jeff Gennette feels optimistic however and said, "I have tremendous faith in the power of the Macy's brand and brand's ability to strengthen its bond with customers. We don't have all the answers, but we are working hard to figure it out." Both Hoguet and Gennette were at a meeting on Tuesday with analysts to discuss Macy's future strategy. It was the first analyst meeting in four years for the department store chain.

Access RDI's Macy's Research Report at:
https://ub.rdinvesting.com/news/?ticker=M

Our Actionable Research on G-III Apparel Group, Ltd. (NASDAQ: GIII) and Macy's, Inc. (NYSE: M) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com

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