;
Home / Knowledge / News / Apparel/Garments / G-III Apparel sales up 17.6% in 2018
G-III Apparel sales up 17.6% in 2018
28
Mar '18
Courtesy: G-III Apparel
Courtesy: G-III Apparel
The net sales for fiscal 2018 of G-III Apparel Group have increased 17.6 per cent to $2.81 billion from $2.39 billion in the prior year. This includes net sales of around $258 million related to operating DKNY and Donna Karan businesses in 2018 compared to $28 million in net sales from the two months of the prior year that the company owned this business.

For the fourth quarter ended January 31, 2018, net sales grew 18.5 per cent to $715 million from $603 million in the fourth quarter last year. This includes net sales of approximately $85 million related to operating DKI business in the quarter compared to approximately $28 million in sales from the two months of the prior year that the company owned this business. The remainder of the year-over-year increase in net sales in the fourth quarter reflected strength in the company’s wholesale business, including new product launches. These increases were partially offset by declines in net sales of the company’s legacy retail businesses.

"We are pleased to have finished with better results than last year, particularly as a result of our power brands: Calvin Klein, Tommy Hilfiger, DKNY, Donna Karan and Karl Lagerfeld Paris. The strength of these businesses is enabling us to grow profitably despite the pressures of a persistently challenging environment," Morris Goldfarb, G-III’s chairman and chief executive officer, said.

"We are focused on improving the results of our specialty retail operations. In that regard, we continue to implement our strategy to improve productivity and streamline operations. We believe that significant growth in our wholesale businesses should continue to propel us to higher sales and profits over the next several years," Goldfarb added.

For fiscal 2019, the company has forecast net sales of approximately $2.94 billion and net income between $97 million and $102 million, or between $1.90 and $2.00 per diluted share. The company has anticipated non-GAAP net income for fiscal year 2019 between $101 million and $106 million, or between $1.98 and $2.08 per diluted share. Non-GAAP guidance excludes non-cash imputed interest expense of approximately $5.7 million, or $0.08 per diluted share, related to the note issued to the seller as part of the consideration for the DKI acquisition.

There is projection for full-year adjusted EBITDA for fiscal 2019 to be between $218 million and $227 million compared to adjusted EBITDA of $201.3 million in fiscal 2018. For the first fiscal quarter ending April 30, 2018, the company is forecasting net sales of approximately $570 million and a net loss between $2.0 million and $7.0 million, or $(0.04) to $(0.14) per share. This forecast compares to net sales of $529 million and a net loss of $10.4 million, or $(0.21) per share, reported in the first quarter of fiscal 2018. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

British PM's Brexit divorce deal defeated in parliament

Textiles | On 16th Jan 2019

British PM's Brexit divorce deal defeated in parliament

British Prime Minister Theresa May's Brexit divorce deal was defeated ...

Garment industry in Laos continues to face challenges

Apparel/Garments | On 16th Jan 2019

Garment industry in Laos continues to face challenges

Apparel firms in Laos are facing several problems ranging from...

Courtesy: Indochino

Apparel/Garments | On 16th Jan 2019

Indochino to open 20 new showrooms in North America

Indochino, a leader in custom and made to measure apparel...

Interviews View All

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Office bearers, Textile industry

Office bearers
Textile industry

There might be negative impact on garment exports

Yash Agarwal, Hitansh Online

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

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

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch 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

Leave your Comments


January 2019

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

news category


Related Categories:

Advanced Search