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Oct 31, 2023
G-III Apparel Q3 2024 Earnings Report
G-III Apparel's Q3 2024 performance exceeded expectations, driven by wholesale segment strength and effective financial management.
Key Takeaways
G-III Apparel Group reported strong profitability for the third quarter of fiscal 2024, exceeding earnings per diluted share guidance. Net sales reached $1.07 billion, slightly lower than the previous year. The company raised its full-year earnings per share guidance, reflecting confidence in its ability to navigate market challenges.
G-III Apparel delivered strong profitability in Q3 2024, exceeding earnings per diluted share guidance.
Net sales for the third quarter were $1.07 billion, a slight decrease from $1.08 billion in the prior year.
Net income per diluted share was $2.74, compared to $1.26 in the previous year.
The company raised its GAAP and Non-GAAP net income per diluted share guidance for fiscal year 2024.
G-III Apparel
G-III Apparel
Forward Guidance
The Company raised its GAAP and Non-GAAP net income per diluted share guidance for the fiscal year ending January 31, 2024. The Company is projecting full-year adjusted EBITDA for fiscal 2024 between $317 million and $322 million.
Positive Outlook
- Net sales of approximately $3.15 billion are expected.
- Net income is expected to be between $175 million and $180 million.
- Diluted share is expected to be between $3.75 and $3.85.
- Non-GAAP net income is anticipated to be between $182 million and $187 million.
- Non-GAAP diluted share is expected to be between $3.90 and $4.00.