Home / Knowledge / News / Apparel/Garments / G-III Apparel Group FY20 sales rise 2.7% to $3.16 bn

G-III Apparel Group FY20 sales rise 2.7% to $3.16 bn

Mar '20
Pic: G-III Apparel Group
Pic: G-III Apparel Group
G-III Apparel Group Ltd, a designer and marketer of apparel and accessories, posted 2.7 per cent rise in its net sales to $3.16 billion in fiscal 2020 ended on January 31, 2020 compared to $3.08 billion in the prior year. However, fourth quarter sales fell 1.6 per cent to $754.6 million from $766.8 million in the fourth quarter last year. 
Gross profit for the year were $1.11 billion (FY19: $1.10 billion). Selling, general and administrative expenses (SG&A) for the fiscal was 832.18 million compared to $834.76 million last year. Net income over the year increased to $143.83 million from $138.06 million last year. 
“The coronavirus outbreak has sent shockwaves through our industry and country. The health and welfare of our associates is of utmost importance to us,” Morris Goldfarb, G-III’s chairman and chief executive officer, said in a press release. “We have closed our retail stores and corporate offices and continue to work remotely or from safe spaces in order to remain operational.”
“We continue towards the restructuring of our retail operations. We are focused on significantly reducing the number of stores we operate and remain committed to substantially reducing the losses from our retail operations as swiftly and efficiently as possible, Goldfarb said.
We reported another year of growth driven by our wholesale segment. We are confident our solid wholesale business, along with a more streamlined retail operation, creates a strong foundation for continued growth.”

Fibre2Fashion News Desk (JL)

Must ReadView All

Pic: Shutterstock

Textiles | On 31st Mar 2020

UN calls for $2.5-trn rescue package for developing world

The COVID-19 pandemic will drive the world economy into recession...

Pic: Shutterstock

Textiles | On 31st Mar 2020

Bangladesh seeks $1 bn from IMF, WB to face COVID-19

Bangladesh has recently sought $1 billion in support from the...

Pic: Shutterstock

Textiles | On 31st Mar 2020

Cambodia to explore FTA with EAEU with Russian help

Cambodian deputy prime minister Hor Namhong recently met Russian...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Smita Murarka, Amanté

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Emanuel Fertuzinhos,

Emanuel Fertuzinhos

Founded in 1981, Lisama, a Portuguese company, is a pioneer in the textile ...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

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

Robert Brunner, Devereux

Robert Brunner

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

March 2020

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

Advanced Search