G-III Apparel beats Q2 estimates; raises FY2022 guidance on strong demand

G III APPAREL GROUP LTD /DE/

2022-Q2 EPS reported $0.92 revenue$1,002,991,000

Q2 net sales $483.1M (+62.5% YoY vs $297.2M); net income $19.2M ($0.39 diluted EPS) vs net loss $15.0M (-$0.31) a year ago.
Ended Q2 with cash and credit facility availability of ~$900M.
Raises FY2022 guidance: net sales ~$2.70B (prev. $2.57B), net income $155M–$165M ($3.10–$3.20 EPS) vs $2.06B and $0.48 EPS last year.
Q3 FY2022 guidance: net sales ~$1.00B, net income $80M–$90M ($1.65–$1.75 EPS) vs $826.6M and $1.29 EPS last year.

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