Home / Knowledge / News / Apparel/Garments / G-III Apparel Group reports 21% surge in Q3FY15 sales
G-III Apparel Group reports 21% surge in Q3FY15 sales
09
Dec '14
For the third quarter ended October 31, 2014, NASDAQ listed, G-III Apparel Group reported a 21 per cent surge in sales as against the third quarter of previous fiscal year.

For the third quarter of 2014, G-III posted net sales at $812.3 million, up 21 per cent from $668.7 million in the year-ago period.

“This year’s quarter included net sales of approximately $66 million from the G.H. Bass business that was acquired in November 2013,” G-III explained.

Excluding these sales, net sales increased by 12 per cent compared to the comparable quarter last year.

The clothing marketer’s net income for the third quarter rose to $80.6 million, or $3.53 per diluted share, from $59.6 million, or $2.85 per diluted share, in the prior year’s comparable period.

Morris Goldfarb, G-III’s CEO said, “We experienced growth in several other areas of our business and we believe we are well positioned for the remainder of the year.”

Goldfarb continued, “We remain focused on continuing to implement successful business strategies and creating value for our shareholders.”

G-III also revised its prior guidance for the full fiscal year ending January 31, 2015 to reflect its strong third quarter financial performance.

The Company is now forecasting net sales of approximately $2.13 billion compared to its previous guidance of $2.11 billion.

It now expects net income to be between $103.0 million and $106.0 million, or a range between $4.65 and $4.80 per diluted share.

This compares with its previous guidance of net income between $90.6 million and $93.9 million, or a range between $4.00 and $4.15 per diluted share.

Both the prior and revised guidance includes $0.16 of dilution from the impact of our sale of 1,725,000 shares in a public offering completed in June of this year.

In addition, the current annual guidance includes the other income items included in our results for the third quarter equal to $0.45 per share, net of taxes.

G-III forecast non-GAAP net income per diluted share for the full 2015 fiscal year between $4.20 and $4.35 compared to $3.74 for the 2014 fiscal year.

It is now projecting adjusted EBITDA for full current fiscal year to increase between 20-24 per cent year-on-year to between $176.5 million and $181.5 million. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Steve Cole
Xerium Technologies

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search