G-III Apparel Q4 2021 Earnings Report
Key Takeaways
G-III Apparel Group reported a decrease in net sales for the fourth quarter ended January 31, 2021, to $526.2 million from $754.6 million in the prior year. The company's GAAP net income for the fourth quarter was $14.6 million, or $0.30 per diluted share, compared to $25.3 million, or $0.52 per diluted share, in the fourth quarter last year. The company completed the restructuring of its retail operations segment and has permanently closed the Wilsons Leather and G.H. Bass stores.
Net sales for the fourth quarter decreased 30.3% to $526.2 million.
GAAP net income for the fourth quarter was $14.6 million, or $0.30 per diluted share.
Net losses from Wilsons Leather and G.H. Bass store operations were $8.6 million, or $(0.17) per diluted share.
Company completed closing of Wilsons Leather and G.H. Bass stores in fiscal 2021.
G-III Apparel
G-III Apparel
Forward Guidance
The Company is only providing guidance for the first quarter of fiscal year 2022, ending on April 30, 2021. For the first quarter of fiscal year 2022, the company expects net sales of approximately $460.0 million and GAAP net income is expected to be in the range of $0.05 and $0.15 per diluted share.
Positive Outlook
- Expects net sales of approximately $460.0 million for the first quarter of fiscal year 2022.
- GAAP net income for the first quarter of fiscal year 2022, is expected to be in the range of $0.05 and $0.15 per diluted share.
Challenges Ahead
- Uncertainty associated with the impact of the COVID-19 pandemic on our results.