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FY17 net sales grow 1.8% at G-III Apparel Group
30 Mar '17
1 min read
For the fiscal ended January 31, 2017, net sales at apparel marketer G-III Apparel Group grew 1.8 per cent to $2.39 billion as against $2.34 billion in the prior fiscal. Growth came mainly from the company’s wholesale innerwear business and Donna Karan International business in the last two months of the fiscal, offset by softer demand for outerwear.
In fiscal 2017, GAAP net income slid to $51.9 million, or $1.10 per diluted share, compared to $114.3 million, or $2.46 per diluted share in fiscal 2016.
In its guidance for fiscal 2018, G-III Apparel Group forecast net sales of around $2.73 billion and net income between $40 million and $45 million, or between $0.80 and $0.90 per diluted share. (AR)
In fiscal 2017, GAAP net income slid to $51.9 million, or $1.10 per diluted share, compared to $114.3 million, or $2.46 per diluted share in fiscal 2016.
In its guidance for fiscal 2018, G-III Apparel Group forecast net sales of around $2.73 billion and net income between $40 million and $45 million, or between $0.80 and $0.90 per diluted share. (AR)
Fibre2Fashion News Desk – India
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