Shares of G-III Apparel Group (GIII) - Get Report  sank 3.8% to $26.01 Wednesday after the company missed Wall Street's first-quarter revenue expectations. 

The New York-based company, whose brands include Calvin Klein, DKNY, and Tommy Hilfiger, reported net income of $12 million, or 24 cents a share, up from $9.9 million, or 20 cents a share, a year ago. Adjusted earnings came to 25 cents, which beat analysts' estimates of 22 cents.

Revenue totaled $633.6 million, up from $611.7 million last year, but missed Wall Street's forecast of $650 million.

Morris Goldfarb, chairman and CEO, said in a statement that the results "were once again fueled by strong performance in our wholesale business led by our five global power brands DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld."

"We know disruption in the retail industry has never been greater, but we remain confident in our ability to adapt to unique challenges," Goldfarb said. "We are well positioned for a solid year and I am confident we are poised to achieve significant growth over the next several years."

For fiscal 2020, G-III said it expects sales of $3.28 billion and earnings between $3.19 and $3.29 a share. Adjusted earnings are expected to range between $3.25 and $3.35. Wall Street is looking for sales of $3.28 billion and earnings of $3.28 a share. The company said that the guidance takes into account the 25% tariffs on Chinese goods.