G-III Q2 net sales $659.8M (+9% YoY); non-GAAP EPS $0.40 vs $0.39; raises FY2024 guidance

G III APPAREL GROUP LTD /DE/

2023-Q2 EPS reported $0.42 revenue$1,266,350,000

Net sales $659.8M, up 9% YoY; GAAP net income $16.4M ($0.35 diluted EPS) vs $0.74 last year.
Non-GAAP diluted EPS $0.40 vs $0.39; raised FY2024 net sales guidance to ~$3.3B, non-GAAP EPS $3.20-3.30.
New multi-year license with HanesBrands to produce Champion brand outerwear, leveraging G-III's core capabilities.
Q3 FY2024 guidance: net sales ~$1.13B, non-GAAP EPS $2.03-2.13; cites strong first-half execution.
FY2023 had $291.5M non-cash goodwill impairment; FY2024 adjusted EBITDA guided $284-289M vs $266.1M prior year.

item 2.02 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 second fiscal quarter ended July 31, 2023 results: revenue $659.8 million, net income $16.4 million, EPS $0.35 per diluted share. Guidance raised.

Period: second fiscal quarter ended July 31, 2023
Revenue: $659.8 million
Net income: $16.4 million
EPS: $0.35 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Net sales for the second quarter ended July 31, 2023 increased 9% to $659.8 million from $605.2 million in the prior year's quarter. The Company reported net income for the second quarter of $16.4 million, or $0.35 per diluted share, compared to $36.3 million, or $0.74 per diluted share, in the prior year's quarter.

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Source: SEC EDGAR

accession 0001558370-23-015527

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