G-III Q2 sales up 25% to $605M; GAAP EPS $0.74, non-GAAP $0.39; guides FY23 below prior year

G III APPAREL GROUP LTD /DE/

2022-Q2 EPS reported $1.36 revenue$1,294,001,000

Q2 net sales $605.2M (+25% YoY); GAAP net income $36.3M ($0.74/diluted) vs $19.2M ($0.39) last year.
Non-GAAP EPS $0.39 vs $0.41; excludes $30.9M gain on Karl Lagerfeld minority stake and $5.7M transaction costs.
Completed acquisition of remaining 81% of Karl Lagerfeld brand in Q2.
FY2023 guidance: net sales ~$3.15B, GAAP EPS $3.69-$3.79, non-GAAP EPS $3.60-$3.70 (vs $4.20 non-GAAP last year).
Q3 FY2023 guidance: net sales ~$1.07B, GAAP EPS $1.70-$1.80 ($2.16 last year).

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