Home / Knowledge / News / Apparel/Garments / Net income soars 72% at G-III Apparel Group in Q2FY15
Net income soars 72% at G-III Apparel Group in Q2FY15
04
Sep '14
Net income at NASDAQ-listed G-III Apparel Group soared 72.22% from a year ago quarter in the second fiscal quarter ended July 31, 2014.

In the second quarter of 2014, G-III Apparel reported net income of $6.2 million, or $0.29 per diluted share, compared to net income of $3.6 million, or $0.17 per diluted share, in the prior year's comparable period.

Driven by a strong wholesale performance across several categories, net sales too ascended 39% to $424.0 million in the second quarter of 2014 from $304.2 million in the year-ago period.

G-III Apparel said of this increase, $53.6 million was the result of net sales by the G.H. Bass business that was acquired in November 2013.

While releasing second quarter results, G-III Apparel also upwardly revised its prior guidance for the full fiscal year.

It now forecasts net sales of around $2.11 billion and net income between $90.6 million and $93.9 million, compared to its previous guidance of net sales of around $2.06 billion and net income between $87.9 million and $91.2 million.

Morris Goldfarb, G-III's CEO said, "We intend to continue to execute our growth strategy which calls for both organic growth and for acquisitions. Our recent public offering, which added net proceeds of $128.7 million to our balance sheet, is expected to support our growth initiatives.”

“Our presence in several wholesale businesses, including sportswear, dresses, and handbags, continues to provide us with organic growth opportunities, as does our ongoing initiatives to grow our productivity and store count in each of our major specialty retail businesses”, he added. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: World Bank/ Harshad Marathe

Apparel/Garments | On 23rd Jul 2016

Rising wages in China to create 1.5 million jobs in S Asia

As wages in China continue to rise, global apparel production and...

Courtesy: 3ders.org

Apparel/Garments | On 23rd Jul 2016

Disney research creates 3D compiler for machine knitting

Introducing 3D technology to machine knitting, Disney Researchers...

Textiles | On 23rd Jul 2016

Telangana to frame new policy for textile industry

The Telangana state government will frame a new policy aimed at...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
june 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search