However, the company's net income fell by 59.008 per cent during the quarter to $2.77 million as compared to $6.76 million in the previous quarter.
Diluted earnings per share stood at $0.15 in Q1 of FY17 as compared to $0.06 in the corresponding quarter last fiscal.
“Fiscal 2017 got off to a strong start in our wholesale business, particularly with respect to our Calvin Klein products and our dress businesses including Eliza J and the newly launched Tommy Hilfiger dress line,” Morris Goldfarb, chairman, CEO and president of G-III said.
“Although our own retail businesses did not perform to plan, we expect many of the measures we are taking to improve top and bottom line performance for these businesses in the second half of the year,” he said.
“In spite of the challenging retail climate, we are positioned well to continue to build our wholesale business, and remain confident with respect to our financial performance and forecast for the full year,” he added.
The company continues to expect net sales of approximately $2.56 billion and net income between $120 million and $125 million, or a range between $2.55 and $2.65 per diluted share for the full fiscal. (MCJ)
Fibre2Fashion News Desk - India
| On 21st Apr 2021
Three major luxury names—LVMH, Prada and Cartier, part of...
| On 21st Apr 2021
India's Cabinet chaired by Prime Minister Narendra Modi has given its ...
Circular fashion and textile technology group Infinited Fiber Company ...
Good tidings expected for textile industry
Money never disappears-it just finds new opportunities
Opportunity now to reimagine processes & systems in a digital environment
A TV show in 2012 where actor Sonam Kapoor <g...
A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...
in 1962 in Agra, Guide Footwear manufactures men’s footwear for...
Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively
Functional Fabric Fair is a trade-exclusive event showcasing the latest...
University of Rhode Island
Assistant professor Daniel Roxbury and former URI graduate student...
Non Woven Federation of India
The Non Woven Federation of India (NWFI), representing the regional...
A Humming Way
A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...
Twee In One
Best known for convertible clothing, Indian brand Twee In One by designer...
Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep
Established in 2012, Sarah & Sandeep is a luxury menswear label...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to firstname.lastname@example.org.