- Prachi Singh
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G-III Apparel Group, Ltd. has announced that its net sales for the
fiscal year ended January 31, 2019 increased 9.6 percent to 3.08
billion dollars, while the GAAP net income reached 138.1 million dollars
or 2.75 dollars per diluted share, compared to 62.1 million dollars
or 1.25 dollars per diluted share, in the prior year. Non-GAAP net income
per diluted share was 2.86 dollars compared to 1.60 dollars in the prior
fiscal year.
“We are pleased to have reported fourth quarter results that capped off
a record year for G-III in which we surpassed 3 billion dollars in annual
net sales and achieved record profits fuelled by our five global power
brands, DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl
Lagerfeld,” said Morris Goldfarb, G-III’s Chairman and Chief Executive
Officer in a statement.
G-III posts rise in Q4 net sales and profit
For the fourth quarter, net sales increased by 7.3 percent to 766.8
million dollars, while GAAP net income was 24.1 million dollars or 48 cents
per diluted share, compared to a net loss of 0.5 million dollars or 1
cent per share, in the fourth quarter last year. Non-GAAP net income per
diluted share was 55 cents compared to 26 cents per share in the fourth
quarter last year.
For fiscal 2020, the company is forecasting net sales of
approximately 3.28 billion dollars and net income between 162 million
dollars and 167 million dollars or between 3.18 dollars and 3.28 dollars
per diluted share. The company is anticipating non-GAAP net income
between 167 million dollars and 172 million dollars or between 3.25 dollars
and 3.35 dollars per diluted share. The company is projecting full-year
adjusted EBITDA between 307 million dollars and 313 million dollars
compared to 269.4 million dollars in fiscal 2019.
For the first fiscal quarter ending April 30, 2019, the company is
forecasting net sales of approximately 650 million dollars and net income
between 7 million dollars and 12 million dollars or between 13 cents and
23 cents per diluted share. On an adjusted basis, excluding non-cash
imputed interest, the company is forecasting a non-GAAP net income
between 15 cents and 25 cents per diluted share.
Picture:Donna Karan webiste
