=G-III Apparel (GIII) reported earnings on Tue 6 June 2017 (b/o)

G-III Apparel beats by $0.19, beats on revs; raises FY17 EPS and revs guidance; guides Q2 EPS above consensus:

• Reports Q1 (Apr) loss of $0.21 per share, $0.19 better than the Capital IQ Consensus of ($0.40); revenues rose 15.7% year/year to $529 mln vs the $497.88 mln Capital IQ Consensus.

FY17 Guidance raised

• Q2
  • Co issues upside guidance for Q2, sees EPS of ($0.34)-($0.24) vs. ($0.42) Capital IQ Consensus Estimate; sees Q2 revs of ~$520 mln vs. $491.67 mln Capital IQ Consensus Estimate.
• FY17
  • Co issues upside guidance for FY18, sees EPS of $1.20-1.30 vs. $1.01 Capital IQ Consensus Estimate; sees FY18 revs of ~$2.76 bln vs. $2.72 bln Capital IQ Consensus Estimate, and above prior guidance of ~$2.73 bln
  • The Company's forecast includes Donna Karan-related transitional expenses of $7 million and non-cash imputed interest expense of $6 million.
  • The Company's previous forecast was for non-GAAP net income between approximately $49 million and $54 million, or between $0.99 and $1.09 per diluted share.