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Oct 31, 2020
G-III Apparel Q3 2021 Earnings Report
Reported a sequential improvement in Q3 with product lines aligned with consumer demand, ending the quarter with a strong financial position.
Key Takeaways
G-III Apparel Group reported a decrease in net sales by 26.7% to $826.6 million compared to the same period last year. Net income for the quarter was $63.2 million, or $1.29 per diluted share, compared to $95.4 million, or $1.97 per diluted share, in the prior year’s comparable period.
Net sales decreased by 26.7% to $826.6 million.
Net income was $63.2 million, or $1.29 per diluted share.
Company is on track to close all Wilsons Leather and G.H. Bass stores by January 31, 2021.
Ended the quarter with approximately $800 million of cash and availability under the revolving credit facility.
Forward Guidance
The Company expects net sales to decline approximately 30% in the fourth quarter of its fiscal year compared to the same period last year and is not providing any additional guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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