-=G-III Apparel (GIII) reported earnings on Thur 7 Sep 23 (b/o)

 

G-III Apparel beats by $0.38, beats on revs; guides Q3 EPS above consensus, revs below consensus; guides FY24 EPS above consensus, revs above consensus

• Reports Q2 (Jul) earnings of $0.39 per share, excluding non-recurring items, $0.38 better than the FactSet Consensus of $0.01; revenues rose 9.0% year/year to $659.8 mln vs the $591.39 mln FactSet Consensus.
• Co issues mixed guidance for Q3, sees EPS of $2.03-2.13, excluding non-recurring items, vs. $1.84 FactSet Consensus; sees Q3 revs of ~$1.13 bln vs. $1.15 bln FactSet Consensus.
• Co issues upside guidance for FY24, sees EPS of $3.20-3.30, excluding non-recurring items, vs. $2.80 FactSet Consensus; sees FY24 revs of ~$3.30 bln vs. $3.26 bln FactSet Consensus.
• Additionally, co announces new multi-year outerwear license for the Champion Brand.

This week's biggest % winners & losers : Nov 28 - Dec 2, 22 (wk 48)

The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top % gainers

• Healthcare: VAPO (1.57 +113.57%), RCUS (35.79 +33.99%), HZNP (104.19 +33.1%), CTLT (52.1 +25.86%)
• Consumer Discretionary: TOUR (1.23 +45.9%), MLCO (8.96 +35.96%), PDD (86.83 +32.06%), UXIN (3.23 +31.8%), NIO (13.11 +28.91%)
• Information Technology: GDS (17.3 +51.49%), SMAR (37.61 +30.27%), OKTA (64.51 +28.79%)
• Financials: EHTH (5.26 +71.34%)
• Consumer Staples: SPB (65.92 +32.36%)

This week's top % losers

• Healthcare: ALLO (9.45 -12.26%)
• Materials: GLT (3.51 -11.93%)
• Industrials: SBLK (18.72 -12.93%)
• Consumer Discretionary: GIII (12.75 -40.48%), LE (7.61 -31.81%), FTCH (5.97 -24.62%), DLTH (6.85 -23.72%), CBRL (98.7 -15.88%), GCO (45.69 -12.37%)
• Financials: FG (19.07 -23.72%)
• Energy: KNOP (10.26 -27.08%), PBF (36.55 -19.93%), DK (28.98 -14.21%), CVI (34.68 -13.52%), CRK (16.57 -12.35%), TRP (43.36 -11.98%)
• Consumer Staples: DAR (62.87 -14.42%), BRFS (1.7 -13.08%)
• Utilities: OGS (72.75 -17.64%)

-=G-III Apparel (GIII) reported earnings on Wed 30 Nov 22 (a/h)

 

 G-III Apparel misses by $0.49, reports revs in-line; guides FY23 EPS below consensus, reaffirms FY23 revs guidance; also extends license agreements for Calvin Klein and Tommy Hilfiger 

• Reports Q3 (Oct) earnings of $1.35 per share, excluding non-recurring items, $0.49 worse than the S&P Capital IQ Consensus of $1.84; revenues rose 6.2% year/year to $1.08 bln vs the $1.07 bln S&P Capital IQ Consensus.
  • "During the quarter, the higher inventory levels caused logistical challenges within our distribution centers. This resulted in significant one-time charges in the third quarter, that were above our expectations, which adversely impacted our bottom line by approximately $0.40 per diluted share. For the fourth quarter of fiscal year 2023, our order book is strong and we are well positioned to meet the demand of our retailers for the Holiday season."
• Co issues guidance for FY23, sees EPS of $2.90-3.00, excluding non-recurring items, vs. $3.60 S&P Capital IQ Consensus; sees FY23 revs of $3.15 bln vs. $3.13 bln S&P Capital IQ Consensus.
  • Co says guidance anticipates the expected impact from current levels of inflationary pressure on consumers and incremental costs associated with the supply chain conditions, including the timing of receipts of goods.
• Co also announces the extension of license agreements for Calvin Klein and Tommy Hilfiger products. See 16:23 comment for more details.

Earnings this week : Nov 28 - Dec 2, 22 (wk 48)

Monday (Nov 28)

• Afternoon: ARWR AZEK

Tuesday (Nov 29)

• Morning: BNS BZUN BILI CRNC HIBB SJR
• Afternoon:  CMP CRWD HPE INTU NTAP WDAY

Wednesday (Nov 30)

• Morning:  DCI FRO HRL BEKE LESL WOOF RY SFL TITN
• Afternoon:  BOX CRDO ESTC FIVE GIII LZB NCNO NTNX OKTA PSTG PVH CRM SMTC SNOW SPLK SNPS VSCO YEXT

Thursday (Dec 1)

• Morning: BMO BIG CM DBI DG KR PDCO SCWX TD
• Afternoon:  AMBA AOUT ASAN CHPT IOT  MRVL PD SMAR PATH ULTA VEEV ZS ZUMZ

Friday (Dec 2)  

• Morning:  CBRL GCO

-=G-III Apparel (GIII) reported earnings on Thur 5 Sept 19 (b/o)

G-III Apparel beats by $0.01, misses on revs; guides Q3 EPS below consensus, revs above consensus; guides FY20 EPS in-line, revs above consensus

Reports Q2 (Jul) earnings of $0.23 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.22; revenues rose 3.1% year/year to $643.9 mln vs the $656.16 mln S&P Capital IQ Consensus.

Co issues mixed guidance for Q3, sees EPS of $1.87-1.97, excluding non-recurring items, vs. $2.12 S&P Capital IQ Consensus; sees Q3 revs of ~$1.17 bln vs. $1.15 bln S&P Capital IQ Consensus.

Co issues guidance for FY20, sees EPS of ~$3.15-3.25, excluding non-recurring items, vs. $3.17 S&P Capital IQ Consensus; sees FY20 revs of ~$3.3 bln vs. $3.25 bln S&P Capital IQ Consensus.

Earnings this week : Sept 2 - 6, 19 (wk 36)

Monday (Sept 2)

• Labor Day Holiday

Tuesday (Sept 3)

• Morning: CONN NSSC TUFN
• Afternoon: COUP EGAN GSM HQY

Wednesday (Sept 4)

• Morning: AEO MIK  NAV VRA
• Afternoon: AVAV HOME CLDR CPRT DSGX MDB PANW PVTL REVG WORK SMAR VRNT

Thursday (Sept 5)

• Morning: BITA CIEN DCI GIII JW.A KIRK LE LVGO MDP SCWX SIG
• Afternoon: ABM CDMO CRWD DOCU DOMO GWRE KFY LULU MDLA PD NX SAIC ZM ZUMZ

Friday (Sept 6) 

• Morning: BRC GCO

Notable earnings reports:

• Coupa Software (NASDAQ:COUP) on September 3; Slack Technologies (WORK), Palo Alto Networks (NYSE:PANW), MongoDB (NASDAQ:MDB), Cloudera (NYSE:CLDR) and Pivotal Software (NYSE:PVTL) on September 4; Lululemon (LULU), DocuSign (NASDAQ:DOCU), Signet Jewelers (NYSE:SIG) and Zoom Video (NASDAQ:ZM) on September 5; Brady (NYSE:BRC) on September 6.

-=G-III Apparel (G-III) reported earnings on Thur 6 Sept 2018 (b/o)

G-III Apparel beats by $0.19, beats on revs; guides Q3 EPS below consensus, revs above consensus; guides FY19 EPS above consensus, revs above consensus

• Reports Q2 (Jul) earnings of $0.22 per share, excluding non-recurring items, $0.19 better than the S&P Capital IQ Consensus of $0.03; revenues rose 16.1% year/year to $624.7 mln vs the $590.16 mln S&P Capital IQ Consensus.
• Co issues mixed guidance for Q3, sees EPS of $1.72-1.82, excluding non-recurring items, vs. $1.86 S&P Capital IQ Consensus; sees Q3 revs of ~$1.08 bln vs. $1.07 bln S&P Capital IQ Consensus.
• Co issues upside guidance for FY19, sees EPS of $2.52-2.62, excluding non-recurring items, vs. $2.37 S&P Capital IQ Consensus; sees FY19 revs of $3.06 bln vs. $2.99 bln S&P Capital IQ Consensus.
  • The Company is projecting full-year adjusted EBITDA for fiscal 2019 between $250 million and $260 million compared to its previous forecast of adjusted EBITDA between $236 million and $246 million. This compares to full-year adjusted EBITDA of $201.3 million in fiscal 2018.

Earnings this week : Sept 3 - 7, 18 (wk 36)

Earnings expected this  week

Markets are closed on Monday, September 3 for Labor Day

Tuesday (Sept 4)

• Morning: CONN
• Afternoon: CAL COUP HQY RH SMAR WDAY

Wednesday (Sept 5)

• Morning: DLTH HDS SCWX VRA
• Afternoon: AVAV CLDR CTRP CWK DOCU DSGX GWRE MDB OLLI REVG TENB VRNT ZS 

Thursday (Sept 6)

• Morning: BKS DCI DVMT   GIII JW.A LE MBUU NAV SECO
• Afternoon: ABM AVGO DOMO EGAN FIVE FNSR GME KFY MCFT MRVL NX OKTA PANW PSDO ZUMZ

Friday (Sept 7)

• Morning: GCO

=G-III Apparel (GIII) reported earnings on Tue 5 June 2018 (b/o)

G-III Apparel beats by $0.27, beats on revs; guides Q2 EPS above consensus, revs above consensus; raises FY19 guidance 

• Reports Q1 (Apr) earnings of $0.22 per share, excluding non-recurring items, $0.27 better than the Capital IQ Consensus of ($0.05); revenues rose 15.6% year/year to $611.7 mln vs the $570.59 mln Capital IQ Consensus.
• Co issues upside guidancefor Q2, sees EPS of ($0.05) - $0.05, excluding non-recurring items, vs. ($0.12) Capital IQ Consensus Estimate; sees Q2 revs of $590 mln vs. $560.49 mln Capital IQ Consensus Estimate.
• Co issues raised guidancefor FY19, sees EPS of $2.27-2.37 from $1.98-2.08, excluding non-recurring items, vs. $2.06 Capital IQ Consensus Estimate; sees FY19 revs of $2.97 bln from $2.94 bln vs. $2.96 bln Capital IQ Consensus Estimate.

=G-III Apparel (GIII) reported earnings on Tue 5 Dec 2017 (b/o)

G-III Apparel beats by $0.13, reports revs in-line; raises FY18 EPS above consensus 

• Reports Q3 (Oct) earnings of $1.67 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus of $1.54; revenues rose 15.9% year/year to $1.02 bln vs the $1.03 bln Capital IQ Consensus.
• Co issues raised guidancefor FY18, sees EPS of $1.42-1.52 from $1.28-1.38, excluding non-recurring items, vs. $1.35 Capital IQ Consensus Estimate.
• The Company is now forecasting projected full-year adjusted EBITDA for fiscal 2018 between $188 million and $196 million compared to adjusted EBITDA of $148.1 million in fiscal 2017 and compared to its previous forecast of adjusted EBITDA of between $180 million and $188 million. 

=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.

This week's biggest % winners & losers : June 5 - 9, 17 (wk 23)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: LOXO (71.55 +46.08%), BLUE (111.9 +32.98%), PTCT (16.39 +25.11%), KITE (87.79 +16.29%), SCLN (10.85 +12.44%)
• Materials: OR (12.6 +18.09%), CENX (16.38 +16.67%), HBM (5.55 +15.62%), IAG (5.07 +12.67%)
• Industrials: NAV (31.1 +20.78%), SALT (6.9 +18.97%), EGLE (5 +12.87%), SBLK (8.93 +12.61%)
• Consumer Discretionary: GIII (25.84 +28.88%), HOME (22.75 +20.37%), ASNA (2.2 +20.22%), RH (50.74 +19.28%), EXPR (7.03 +12.48%)
• Information Technology: AMD (12.28 +12.66%)

This week's top 20 % losers

• Healthcare: NLNK (6.46 -48.69%), EPZM (10.5 -27.59%), CLDX (2.24 -22.49%), IVC (11.8 -18.62%), INSY (11.48 -18.47%), JUNO (21.68 -17.28%), ACHN (4.19 -16.7%)
• Materials: FRTA (6.42 -15.97%)
• Industrials: HDS (31.51 -24.02%), CBI (16.16 -15.83%)
• Consumer Discretionary: DLTH (16.6 -16.83%), NTRI (46 -13.94%), FRED (11.28 -13.76%)
• Information Technology: SCWX (9.53 -17.63%), COUP (31 -15.16%), CRTO (45.45 -13.72%)
• Energy: TOO (2.59 -20.8%), SEMG (27.05 -13.72%)
• Consumer Staples: RAD (3 -18.48%)
• Telecommunication Services: IDT (14.53 -15.96%)

=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.

=G-III Apparel (GIII) reported earnings on Mon 27 March 2017 (b/o)

G-III Apparel misses by $0.04, misses on revs; guides Q1 EPS and rev below consensus; guides FY18 EPS and rev below consensus :

• Reports Q4 (Jan) loss of $0.16 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus of ($0.12); revenues rose 14.4% year/year to $603.3 mln vs the $622.76 mln Capital IQ Consensus. The year-over-year increase in net sales in the fourth quarter reflects strength in the Company's non-outerwear wholesale business, including new product launches, as well as the inclusion of approximately $29.0 million of net sales from the DKI business in the last two months of the quarter. These increases were partially offset by declines in net sales of the Company's retail businesses. 
• Co issues downside guidance for Q1, sees EPS of ($0.35-0.45), excluding non-recurring items, vs. ($0.09) Capital IQ Consensus Estimate; sees Q1 revs of ~$500 mln vs. $555.50 mln Capital IQ Consensus Estimate.
• Co issues downside guidance for FY18, sees EPS of $0.99-1.09, excluding non-recurring items, vs. $1.34 Capital IQ Consensus Estimate; sees FY18 revs of $2.73 bln vs. $2.88 bln Capital IQ Consensus Estimate. 
• "Our non-outerwear wholesale business performed well in the face of significant headwinds as the traditional retail environment has become increasingly disrupted as a result of evolving consumer buying behavior and continued penetration of e-commerce. We expect to initiate a number of new product launches in the coming year as we seek to offer superior value in the marketplace. While our near-term financial outlook reflects the dilutive impact of our recent acquisition of Donna Karan, we believe the mid-year re-launch of the DKNY and Donna Karan brands will have a positive impact in the second half of the year. We are confident that we have one of the most desirable portfolios of brands in the industry and that DKNY and Donna Karan will quickly take their place alongside Calvin Klein, Tommy Hilfiger, and Karl Lagerfeld as the cornerstone brands for the growth of our business."
• Macy's (M) will serve, beginning February 2018, as the exclusive U.S. department store for sales of DKNY women's apparel and accessories.

=G-III Apparel (GIII) reported earnings Thur 1 Dec 2016 (a/h)

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.

=G-III Apparel (GIII) reported earnings Tue 30 Aug 2016 (b/o)

G-III Apparel misses by $0.17, misses on revs; guides Q3 EPS and below consensus; lowers FY17 EPS and rev below consensus; sees rev doubling to $5 bln in five years :

• Reports Q2 (Jul) earnings of $0.01 per share, excluding non-recurring items, $0.17 worse than the Capital IQ Consensus of $0.18; revenues fell 6.7% year/year to $442.3 mln vs the $484.85 mln Capital IQ Consensus. 
  • Strength in non-outerwear offset by reduced outerwear deliveries.
• Co issues downside guidance for Q3, sees EPS of $1.50-1.60, excluding non-recurring items, vs. $2.02 Capital IQ Consensus Estimate; sees Q3 revs of $940 mln vs. $1.01 bln Capital IQ Consensus Estimate.
• Co issues downside guidance for FY17, lowers EPS to $2.20-2.30 from $2.55-2.65, excluding non-recurring items, vs. $2.58 Capital IQ Consensus; lowers FY17 revs to $2.48 bln from $2.56 bln vs. $2.56 bln Capital IQ Consensus. The Company is now projecting adjusted EBITDA for fiscal 2017 to decrease from the prior year between 2% and 5% to between ~$199 million and $206 million vs. $210.1 mln last year. Adjusted EBITDA for fiscal 2017 does not reflect the significant additional expenses related to this acquisition of Donna Karan that the Company expects to incur in the second half of the fiscal year.

G-III Apparel (GIII) to add Donna Karan & DKNY to its portfolio

• For only the second time in its almost 30-year history, LVMH Moët Hennessy Louis Vuitton, the largest luxury conglomerate in the world, is selling a fashion brand.  The last fashion brand that LVMH sold was Christian Lacroix in 2005.
• G-III Apparel Group, the American manufacturing and licensing company owns Andrew Marc, Vilebrequin and Bass and holds the licenses for Ivanka Trump, Calvin Klein and Tommy Hilfiger, among others. 

LVMH Moët Hennessy Louis Vuitton SE agreed to sell Donna Karan International Inc. to apparel company G-III Apparel Group Ltd. for $650 million including debt, an unusual retreat for the French luxury giant.

The Donna Karan and DKNY lines delivered lackluster growth for years amid stiff competition and capped investment from LVMH, which focused more on its eponymous brand, Céline and other labels it saw as being higher potential.

About two years ago LVMH decided to restructure Donna Karan, cutting costs and simplifying the branding. During its latest effort at the end 2015, the French company pulled lines like DK Jeans and DKNYC in a bid to focus on the brand’s core collections. The Donna Karan line has remained suspended since last summer when the brand’s eponymous founder resigned.

Donna Karan with models wearing looks from her DKNY Spring 1989 collection in Times Square.

=G-III Apparel (GIII) reported earnings Wed 1 June 2016 (b/o)

G-III Apparel beats by $0.03, misses on revs; guides Q2 below consensus; reaffirms FY17 guidance :

• Reports Q1 (Apr) earnings of $0.06 per share, $0.03 better than the Capital IQ Consensus of $0.03; revenues rose 5.6% year/year to $457.4 mln vs the $473.22 mln Capital IQ Consensus.
• Co issues downside guidance for Q2, sees EPS of $0.15-0.19 vs. $0.20 Capital IQ Consensus Estimate; sees Q2 revs of ~$485 mln vs. $509.06 mln Capital IQ Consensus Estimate.
• Co reaffirms guidance for FY17, sees EPS of $2.55-2.65 vs. $2.58 Capital IQ Consensus Estimate; sees FY17 revs of ~$2.56 bln vs. $2.55 bln Capital IQ Consensus Estimate. 
• "Fiscal 2017 got off to a strong start in our wholesale business, particularly with respect to our Calvin Klein products and our dress businesses including Eliza J and the newly launched Tommy Hilfiger dress line. Although our own retail businesses did not perform to plan, we expect many of the measures we are taking to improve top and bottom line performance for these businesses in the second half of the year. We are looking forward to our upcoming multi-category product launches for Tommy Hilfiger, as well as further penetration and distribution of the Karl Lagerfeld brand." Mr. Goldfarb concluded, "We believe that our leadership in product design, merchandising and sourcing will continue to drive our strong sell-through performance in department stores. In spite of the challenging retail climate, we are positioned well to continue to build our wholesale business, and remain confident with respect to our financial performance and forecast for the full year."

G-III Apparel Group (GIII) reported earnings Tue 22 March 16 (b/o)

** charts after earnings **

 

** 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."

G-III Apparel Group (GIII) reported earnings Wed 2 Dec 2015 (b/o)

** charts after earnings **

 G-III Apparel beats by $0.07, reports revs in-line; lowers FY16 EPS in-line, reaffirms FY16 rev; adds 1.25 mln shares to buyback:

• Reports Q3 (Oct) earnings of $1.85 per share, excluding non-recurring items,$0.07 better than the Capital IQ Consensus of $1.78; revenues rose 12.0% year/year to $909.9 mln vs the $913.12 mln Capital IQ Consensus.
• Co issues guidance for FY16, lowers EPS to $2.65-2.80 from $2.78-2.88, excluding non-recurring items, vs. $2.67 Capital IQ Consensus Estimate; reaffirms FY16 rev ~$2.4 bln vs. $2.39 bln Capital IQ Consensus.
• Board of Directors had reapproved and increased the previously authorized share repurchase program. There were 3,750,000 shares available under the prior program which the Board has increased to 5,000,000 shares; there are 45.54 mln shares outstanding.
• "Our organic sales and profit increase clearly differentiate us as a leader in our industry. We achieved this performance in a challenging market environment. Although outerwear is off to a slow start at retail, our dress, sportswear and handbag businesses performed well in the quarter." Mr. Goldfarb continued, "We have made a guidance revision for the full year to reflect expected softness in consumer spending and reduced traffic in the fourth quarter."