NEW YORK (TheStreet) -- Shares of G-III Apparel Group Ltd (GIII) are soaring, sharply up 8.19% to $65.01 in pre-market trading Wednesday, following the clothing and accessories maker's fiscal first-quarter earnings release after the market closed yesterday.
For the first quarter, the company earned 15 cents per share on revenue of $433 million.
Analysts polled by Thomson Reuters expected the company to earn 7 cents per share on revenue of $405.82 million for the first quarter.
The company raised its prior guidance for the full fiscal 2016 year ending January 31, 2016.
It now expects full-year earnings in the range of between $2.66 to $2.76 per share on revenue of $2.4 billion.
Analysts currently expect the company to earn $2.62 per share on revenue of $2.37 billion for the fiscal year 2016.
G-III Apparel previously forecast earnings of between $2.53 to $2.63 per share on revenue of $2.37 billion.
Shares closed at $60.09 in Tuesday's regular session.
New York City-based G-III Apparel Group is a manufacturer and distributor of outerwear, dresses, sportswear, swimwear, women's suits, women's performance wear, footwear, luggage, women's handbags, small leather goods and cold weather accessories.
G-III has fashion licenses under the Calvin Klein, Kenneth Cole, Cole Haan, Guess, Tommy Hilfiger, Jones New York, Jessica Simpson, Vince Camuto, Ivanka Trump, Ellen Tracy, Kensie, Levi's and Dockers brands.
Separately, TheStreet Ratings team rates G-III APPAREL GROUP LTD as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate G-III APPAREL GROUP LTD (GIII) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."
You can view the full analysis from the report here: GIII Ratings Report