G-III Apparel Group (GIII) stock surged over 5% in Tuesday's pre-market trading after the apparel maker reported stronger than expected fiscal third quarter earnings and raised its full-year profit forecast.
For the quarter ended October 31, G-III posted adjusted earnings per share of $2.59, beating consensus estimates of $2.27. Though revenues of $1.09 billion narrowly missed expectations of $1.1 billion, the company saw over 30% organic growth in key owned brands like DKNY, Karl Lagerfeld, and Donna Karan despite a challenging retail environment.
Buoyed by the Q3 outperformance, G-III raised its fiscal 2025 adjusted EPS guidance to $4.10-$4.20 from $3.95-$4.05 previously. However, it trimmed its full-year revenue forecast to $3.15 billion from $3.2 billion earlier, citing unseasonable weather and supply chain disruptions.
CEO Morris Goldfarb cited strengthening sell-through trends across brands in the current quarter and leaner inventories positioned to support demand for the remaining holiday and spring seasons. Inventories declined 10% year-over-year to $532.5 million.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.