G-III Apparel Group (GIII) - Get G-III Apparel Group, Ltd. Report on Thursday reported fiscal fourth-quarter net income that exceeded analysts' forecasts, even as total sales came in slightly lower than expected.
The New York-based company, which owns retail clothing and accessories brands including DKNY and Donna Karan and has fashion licenses for Calvin Klein, Tommy Hilfiger and Cole Haan, said it earned net income of $24.1 million, or 48 cents an adjusted share, vs. a loss of 542,000, or 1 cent a share, in the comparable year-earlier period.
Analysts surveyed by FactSet had been expecting per-share earnings of 43 cents. The company posted revenue of $766.8 million in its fiscal fourth quarter, which fell short of forecasts of $767.4 million. For its fiscal year, G-III said it earned a profit of $138.1 million, or $2.75 a share. Revenue was reported as $3.08 billion.
For its fiscal first quarter ending in May, G-III said it expects its per-share earnings to range from 15 cents to 25 cents, and revenue in the range of $650 million. For the full fiscal year, the company said it sees earnings in the range of $3.25 to $3.35 a share and revenue of $3.28 billion.
Other clothing and retail brands that fall under the G-III banner include Vilebrequin, G.H. Bass, and Andrew Marc. The company also has licenses with the National Football League, National Basketball Association, Major League Baseball and National Hockey League.
Shares of G-III gained more than 8% Thursday, rising $2.84 to $38 on the Nasdaq Stock Exchange.