Why G-III Apparel Group (GIII) Stock Spiked Today

NEW YORK (TheStreet) -- GIII-Apparel Group (GIII) stock spiked over Tuesday's session after first-quarter profits trumped estimates for net losses and revenue climbed double digits. 

By market close, shares had added 8.7% to $82.54.

Over the three months to April, the fashion company earned 6 cents a share, above prior guidance of a net loss between 10 cents and 20 cents a share, and far higher than analysts' estimates for losses of 15 cents a share. Revenue of $366.2 million jumped 34.3% year over year and beat expectations by $20 million, according to analysts surveyed by Thomson Reuters

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TheStreet Ratings team rates G-III APPAREL GROUP LTD as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate G-III APPAREL GROUP LTD (GIII) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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