GIII beats Q2 expectations; raises FY2025 EPS outlook, Converse license

G III APPAREL GROUP LTD /DE/

2024-Q2 EPS reported $0.65 revenue$1,254,502,000

Q2 net sales $644.8M (-2% YoY); GAAP dil. EPS $0.53 vs $0.35; non-GAAP dil. EPS $0.52 vs $0.40, above guidance.
Raised FY2025 GAAP EPS guidance to $3.94-$4.04 from $3.58-$3.68; non-GAAP EPS to $3.95-$4.05; net sales $3.20B unchanged.
Signed global apparel license for Converse brand; launch Fall 2025, expanding active lifestyle category.
Repaid $400M senior secured notes due Aug 2025; repurchased 1.2M shares for $31.6M in Q2.
Inventories down 24% YoY to $610.5M; Q3 GAAP EPS expected $2.18-$2.28 vs $2.74 prior-year.

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