Business
G-III Apparel Group, Ltd. Reports First Quarter Fiscal 2026 Results
Net Income Per Diluted Share of $0.17 for the First Quarter Compared to $0.12 Last Year and Non-GAAP Net Income Per Diluted Share of $0.19 for the First
About this update from G-iii Apparel Group, Ltd.
[{"type":"text","content":"Net Income Per Diluted Share of $0.17 for the First Quarter Compared to $0.12 Last Year and Non-GAAP Net Income Per Diluted Share of $0.19 for the First Quarter Compared to $0.12 Last Year, Both Exceeding GuidanceNet Sales of $583.6 Million for the First Quarter Compared to $609.7 Million Last YearRepurchases of $19.7 Million or 807,437 Shares in the First QuarterReaffirms Net Sales Guidance for Fiscal 2026 NEW YORK, June 06, 2025 (GLOBE NEWSWIRE) -- G-III Apparel Group, Ltd. (NasdaqGS: GIII) (“G-III” or the “Company”) today reported results for the first quarter of fiscal 2026, ended April 30, 2025. Morris Goldfarb, G-III’s Chairman and Chief Executive Officer, said, “G-III delivered solid first quarter results, marked by earnings that exceeded the high end of guidance. Our performance was fueled by double-digit growth of our key owned brands, DKNY, Karl Lagerfeld and Donna Karan, which largely offset the exit of the Calvin Klein jeans and sportswear businesses. These results underscore the strong demand and desirability of our brand portfolio and are a testament to our team’s outstanding execution.” Mr. Goldfarb concluded, “We are reaffirming our net sales guidance for fiscal 2026 and working diligently to mitigate the impact of tariffs. Our experienced management team has a proven track record of successfully navigating periods of uncertainty, and we view the ongoing disruptions as an opportunity to strengthen our competitive position and capture incremental market share. As we advance our strategic priorities, we have never been more confident in the global resonance of our brands and the significant growth potential ahead to drive long-term profitability and shareholder value.” Results of Operations First Quarter Fiscal 2026 Net sales for the first quarter ended April 30, 2025 decreased 4% to $583.6 million compared to $609.7 million in the prior year’s quarter. Net income for the first quarter ended April 30, 2025 was $7.8 million, or $0.17 per diluted share, compared to $5.8 million, or $0.12 per diluted share, in the prior year’s quarter. Non-GAAP net income per diluted share was $0.19 for the first quarter ended April 30, 2025 compared to $0.12 in the same period last year. Non-GAAP net income per diluted share in the first quarter of fiscal 2026 excludes $1.0 million in one-time severance expenses related to a closed w...