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

G-III Apparel beats by $0.11, beats on revs; guides Q3 EPS below consensus, revs above consensus; raises FY18 EPS and rev guidance

• Reports Q2 (Jul) loss of $0.15 per share, $0.11 better thanthe Capital IQ Consensus of ($0.26); revenues rose 21.6% year/year to $538 mln vs the $522.45 mln Capital IQ Consensus.
• Co issues guidance for Q3, sees EPS of $1.45-1.55 vs. $1.60 Capital IQ Consensus Estimate; sees Q3 revs of $1.03 bln vs. $1.02 bln Capital IQ Consensus Estimate.
• Co issues raised guidance for FY18, sees EPS of $1.28-1.38 from $1.20-1.30 vs. $1.28 Capital IQ Consensus Estimate; sees FY18 revs of $2.8 bln vs. $2.76 bln Capital IQ Consensus Estimate.
• "In our own retail operations, we expect to improve performance through store rationalization, better merchandising and expense reductions. We believe we can mitigate the pressure on our retail results while reaping the benefits of an exciting new phase of wholesale growth as we look forward to a successful second half of the year. We anticipate achieving our operational and financial objectives and fulfilling our ongoing mission to offer brand and product solutions to an industry affected by disruption and change."
• The Company is now forecasting projected full-year adjusted EBITDA for fiscal 2018 between $180 million and $188 million compared to adjusted EBITDA of $148.1 million in fiscal 2017 and compared to its previous forecast of adjusted EBITDA of between $178 million and $186 million.