G-III raises earnings guidance for fiscal 2025

G-III Apparel Group’s third quarter net sales increased 1.8 percent to 1.09 billion dollars, while net income was 114.8 million dollars or 2.55 dollars per diluted share.

The company said non-GAAP net income per diluted share was 2.59 dollars for the quarter compared to 2.78 dollars in the same period last year.

Commenting on the financial results, Morris Goldfarb, G-III’s chairman and chief executive officer, said in a statement: “I am very pleased with our strong third quarter results, with earnings per diluted share exceeding our expectations, driven by over 30 percent organic growth of our key owned brands DKNY, Karl Lagerfeld, Donna Karan and Vilebrequin.”

“Looking at the remainder of the year, given our significant third quarter earnings outperformance, we are once again raising our earnings per diluted share guidance for fiscal 2025,” added Goldfarb.

For the year ahead, the company added that net sales are expected to increase by approximately 2 percent to around 3.15 billion dollars. Net income is expected to be between 185 million dollars and 190 million dollars or diluted earnings per share between 4.08 dollars and 4.18 dollars.

Non-GAAP net income for fiscal 2025 is expected to be between 186 million dollars and 191 million dollars or diluted earnings per share between 4.10 dollars and 4.20 dollars and adjusted EBITDA is expected to be between 309 million dollars and 314 million dollars.