G-III Apparel reports FY2024 net income $176.2M ($3.75 EPS); guides FY2025 EPS down to $3.50-$3.60

G III APPAREL GROUP LTD /DE/

2023-FY EPS reported $3.75 revenue$3,098,242,000

FY2024 net sales $3.10B (-4% YoY); net income $176.2M ($3.75 diluted EPS) vs. net loss of $(133.1M) last year.
Non-GAAP EPS for FY2024: $4.04, exceeding prior guidance; net cash position $90M with over $1B liquidity.
Owned brands penetration reached 47% of sales vs. 40% in prior year; inventories down 27%.
FY2025 guidance: net sales ~$3.20B, EPS $3.50-$3.60 (below FY2024 non-GAAP $4.04); adjusted EBITDA $290-295M.
First quarter FY2025 expected net loss up to $(5M); company to incur ~$60M incremental expenses for brand launches.

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 0.95

G III APPAREL GROUP LTD /DE/ reported the fourth fiscal quarter and fiscal year ended January 31, 2024 results: revenue $764.8 million, net income $28.9 million, or $0.61 per diluted share.

Period: the fourth fiscal quarter and fiscal year ended January 31, 2024
Revenue: $764.8 million
Net income: $28.9 million, or $0.61 per diluted share
Result: reported results

Exact text from the filing

Net sales for the fourth quarter ended January 31, 2024 decreased 10.5% to $764.8 million from $854.4 million in the prior year’s quarter. Net income for the fourth quarter was $28.9 million, or $0.61 per diluted share

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

G III APPAREL GROUP LTD /DE/ reported the fiscal year ended January 31, 2024 results: revenue $3.10 billion, net income $176.2 million, or $3.75 per diluted share.

Period: the fiscal year ended January 31, 2024
Revenue: $3.10 billion
Net income: $176.2 million, or $3.75 per diluted share
Result: reported results

Exact text from the filing

Net sales for the fiscal year ended January 31, 2024 decreased 4.0% to $3.10 billion from $3.23 billion in the prior year. The Company reported net income for the fiscal year of $176.2 million, or $3.75 per diluted share

View on SEC.gov

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Source: SEC EDGAR

accession 0001558370-24-003166

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