NEW YORK (AP) _ G-III Apparel Group Ltd. (GIII) on Thursday reported fiscal third-quarter earnings of $70.6 million.
On a per-share basis, the New York-based company said it had net income of $1.50.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The clothing and accessories maker posted revenue of $883.5 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $937.8 million.
G-III Apparel expects full-year earnings in the range of $1.61 to $1.71 per share, with revenue expected to be $2.43 billion.
G-III Apparel shares have fallen 39 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.88, a decrease of 43 percent in the last 12 months.
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