In its financial report for the second quarter released on Thursday, G-III Apparel Group, Ltd. (GIII) announced an upward revision in its adjusted earnings guidance for the full fiscal year 2025, while keeping the forecast for annual net sales unchanged.For the third quarter, G-III anticipates earnings per share to range between $2.18 and $2.28, with adjusted earnings per share projected between $2.20 and $2.30 on net sales of $1.10 billion.In comparison, five analysts surveyed by Thomson Reuters predict the company will report earnings of $2.61 per share on revenues of $1.13 billion for the quarter. It should be noted that analysts’ estimates typically exclude special items.Looking ahead to fiscal 2025, G-III now forecasts earnings per share between $3.94 and $4.04, with adjusted earnings per share also expected to range from $3.95 to $4.05, on net sales of $3.20 billion.Previously, the company had projected both earnings and adjusted earnings per share in the range of $3.94 to $4.04, on net sales of $3.20 billion.Analysts are currently predicting earnings of $3.66 per share on revenues of $3.19 billion for the year.During the second quarter, G-III reported net income attributable to the company amounting to $24.21 million or $0.53 per share, an increase from $16.44 million or $0.35 per share in the corresponding period of the previous year. When excluding special items, adjusted earnings were $0.52 per share, compared to $0.40 per share in the prior-year quarter.Net sales for the quarter saw a decline of 2 percent, totaling $644.76 million, compared to $659.76 million in the same quarter last year.Analysts had expected earnings of $0.27 per share on net sales of $649.44 million for the quarter.Additionally, G-III has entered into a licensing agreement with Converse, Inc. to design and produce men’s and women’s apparel for global distribution. The product line is anticipated to launch in the fall of 2025.The material has been provided by InstaForex Company – www.instaforex.com
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