G-III Apparel Group's stock surged 11.86% at market open on Friday, driven by the company's better-than-expected first-quarter results and an upward revision to its full-year earnings outlook.

The apparel company reported a fiscal first-quarter adjusted loss of $0.21 per share, which beat the FactSet consensus estimate of a $0.30 loss. Net sales for the quarter came in at $536 million, exceeding expectations of $529.1 million. Despite the revenue decline from the prior year, the earnings beat and strong guidance prompted investor optimism.

G-III raised its fiscal 2027 adjusted earnings per share guidance to a range of $2.15 to $2.25, up from its previous forecast of $2.00 to $2.10. The company also provided optimistic second-quarter guidance, with net sales expected to be approximately $570 million, ahead of analyst estimates. The positive sentiment was further bolstered by the company's recent announcement of its acquisition of the Marc Jacobs brand, which management believes will accelerate G-III's transformation into a brand-led global powerhouse.