G-III Q3 net sales $1.08B (+6.2% YoY); EPS $1.26; extends Calvin Klein/Tommy Hilfiger licenses through 2027

G III APPAREL GROUP LTD /DE/

2022-Q3 EPS reported $2.62 revenue$2,372,300,000

GAAP net income $61.1M ($1.26/diluted share) vs $106.7M ($2.16) prior year; non-GAAP EPS $1.35 vs $2.18.
Net sales rose 6.2% to $1.08B; one-time supply chain charges of ~$0.40/share weighed on bottom line.
FY 2023 guidance: net sales ~$3.15B, net income $147M-$152M ($3.00-$3.10/sh), adjusted EBITDA $265M-$270M.
Calvin Klein and Tommy Hilfiger licenses extended through Dec 2027 on a staggered basis; PVH intends to produce products itself after expiry, posing material revenue risk.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

G III APPAREL GROUP LTD /DE/ reported fiscal year ending January 31, 2023 results: revenue approximately $3.15 billion, net income between $147 million and $152 million, EPS between $3.00 and $3.10 per diluted share. Guidance lowered.

Period: fiscal year ending January 31, 2023
Revenue: approximately $3.15 billion
Net income: between $147 million and $152 million
EPS: between $3.00 and $3.10 per diluted share
Guidance: lowered
Result: guidance update

Exact text from the filing

For fiscal 2023, the Company expects net sales of approximately $3.15 billion and net income between $147 million and $152 million, or between $3.00 and $3.10 per diluted share.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

G III APPAREL GROUP LTD /DE/ reported third quarter ended October 31, 2022 results: revenue $1.08 billion, net income $61.1 million, EPS $1.26 per diluted share.

Period: third quarter ended October 31, 2022
Revenue: $1.08 billion
Net income: $61.1 million
EPS: $1.26 per diluted share
Result: reported results

Exact text from the filing

Net sales for the third quarter ended October 31, 2022 increased 6.2% to $1.08 billion from $1.02 billion in the prior year’s quarter. The Company reported net income for the third quarter of $61.1 million, or $1.26 per diluted share, compared to $106.7 million, or $2.16 per diluted share, in the prior year’s quarter.

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Source: SEC EDGAR

accession 0001558370-22-018289

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