G-III Apparel Group, Ltd. Reports Earnings Results for the Fourth Quarter and Full Year Ended January 31, 2024
March 14, 2024 at 07:32 am EDT
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G-III Apparel Group, Ltd. reported earnings results for the fourth quarter and full year ended January 31, 2024. For the fourth quarter, the company reported sales was USD 764.78 million compared to USD 854.43 million a year ago. Net income was USD 28.85 million compared to net loss of USD 261.12 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to basic loss per share from continuing operations of USD 5.54 a year ago. Diluted earnings per share from continuing operations was USD 0.61 compared to diluted loss per share from continuing operations of USD 5.54 a year ago.
For the full year, sales was USD 3,098.24 million compared to USD 3,226.73 million a year ago. Net income was USD 176.17 million compared to net loss of USD 133.06 million a year ago. Basic earnings per share from continuing operations was USD 3.84 compared to basic loss per share from continuing operations of USD 2.79 a year ago. Diluted earnings per share from continuing operations was USD 3.75 compared to diluted loss per share from continuing operations of USD 2.79 a year ago.
G-III Apparel Group, Ltd. designs, sources and markets a range of apparel, including outerwear, dresses, sportswear, swimwear, womenâs suits and womenâs performance wear, as well as womenâs handbags, footwear, small leather goods, cold weather accessories and luggage. Its segments include wholesale operations and retail operations. The wholesale operations segment includes sales of products to retailers under owned, licensed and private label brands, as well as sales related to the Vilebrequin and Karl Lagerfeld businesses, other than sales of products under the Karl Lagerfeld Paris brand from its retail stores and digital outlets. The retail operations segment consists primarily of direct sales to consumers through its Company-operated stores and through digital channels. Its Company-operated retail channels consist primarily of DKNY and Karl Lagerfeld Paris stores, as well as the digital channels for DKNY, Donna Karan, Karl Lagerfeld Paris, G.H. Bass, Andrew Marc and Wilsons Leather.
G-III APPAREL GROUP, LTD. 
