G-III posts Q3, excited about new dress assortment

06 Dec '07

3 min read

Mr. Goldfarb continued, “We continue to be excited about our new business initiatives, particularly in the dress category. Dresses are the fastest growing portion of our product assortment. As we move into the Spring season, we expect to accelerate the pace of our business in the dress market and to further develop our portfolio of licenses and private label brands in that category.”

Mr. Goldfarb concluded, “As we move forward into next year, we expect to further expand our business by category and by tier of distribution. We are committed to our strategy of building G-III into a four season apparel company serving the major tiers of distribution.”

Outlook:
For the full fiscal year ending January 31, 2008, the Company continues to expect diluted net income per share between $0.98 and $1.03. The Company also continues to forecast net sales of approximately $510 million for the full year.

Similarly, the Company continues to project full year EBITDA to increase 18% to 22%, to approximately $38.1 to $39.5 million, up from $32.3 million in fiscal 2007. EBITDA results should be evaluated in light of the Company's financial results prepared in accordance with US GAAP. A reconciliation of EBITDA to net income in accordance with US GAAP is included in a table accompanying the condensed financial statements in this release.

G-III Apparel Group Ltd

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