- G-III Apparel Group Ltd GIII reported third-quarter FY21 sales growth of 22.8% year-on-year, to $1.015 billion, versus the consensus of $1.01 billion. EPS of $2.16 beat the consensus of $1.78.
- The gross profit rose 16.7% Y/Y to $347.5 million, with the margin contracting 180 basis points to 34.2%.
- The operating margin was 15.6%, and operating income for the quarter rose 43.6% to $158.1 million.
- The company held $279.6 million in cash and equivalents as of October 31, 2021.
- Outlook: G-III sees FY22 sales of $2.77 billion (prior view $2.70 billion), above the consensus of $2.68 billion.
- The company expects FY22 EPS of $3.65 - $3.75 (prior view $3.10 - $3.20), versus the consensus of $3.23.
- Price Action: GIII shares are trading higher by 7.49% at $31.86 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
