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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.
G-III Apparel
G-III Apparel
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.