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Jul 31, 2023
G-III Apparel Q2 2024 Earnings Report
Net sales and GAAP and Non-GAAP net income per diluted share exceeded guidance.
Key Takeaways
G-III Apparel Group reported a strong second quarter, exceeding both top and bottom line guidance. Net sales increased by 9% to $659.8 million, and non-GAAP net income per diluted share was $0.40. The company also raised its guidance for fiscal year 2024 and announced a new multi-year outerwear license for the Champion brand.
Net sales for the second quarter increased 9% to $659.8 million compared to $605.2 million last year.
Net income per diluted share was $0.35 for the second quarter, compared to $0.74 last year.
Non-GAAP net income per diluted share was $0.40 for the second quarter, compared to $0.39 last year.
The company raised its guidance for fiscal year 2024.
Forward Guidance
The Company today raised its guidance for the fiscal year ending January 31, 2024. For fiscal 2024, the Company expects net sales of approximately $3.30 billion and net income between $145 million and $150 million, or between $3.05 and $3.15 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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