** 2 weeks later **
G-III Apparel misses by $0.25, misses on revs; guides Q1 EPS below consensus, revs above consensus; guides FY17 EPS and rev below consensus :
- Reports Q4 (Jan) earnings of $0.17 per share, $0.25 worse than the Capital IQ Consensus of $0.42; revenues rose 2.5% year/year to $527.4 mln vs the $566.37 mln Capital IQ Consensus.
- The increase in net sales was the result of strength in many of the Company's wholesale businesses and G.H. Bass retail, offset in part, by lower sales and higher promotion costs with respect to outerwear in our wholesale and Wilsons Leather retail businesses.
- Co issues mixed guidance for Q1, sees EPS of $0.00-0.05 vs. $0.15 Capital IQ Consensus; sees Q1 revs of ~$475 mln vs. $461.43 mln Capital IQ Consensus Estimate.
- Co issues downside guidance for FY17, sees EPS of $2.55-2.65 vs. $3.14 Capital IQ Consensus; sees FY17 revs of ~$2.56 bln vs. $2.59 bln Capital IQ Consensus Estimate.
- "Fiscal 2016 was a very strong year for us, although we were disappointed by our wholesale and retail outerwear business, which was heavily impacted by the warmest winter ever recorded. That said, we had excellent performances from our non-outerwear Calvin Klein businesses, as well as our dress and team sports businesses. We have significantly expanded our relationship with the Tommy Hilfiger brand and increased our financial investment and partnership with the Karl Lagerfeld brand. We will be making significant investments in these brands going forward."
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