$GIII (G-III Apparel Group, Ltd.)

$GIII {{ '2016-08-30T12:58:01+0000' | timeago}} • Webcast

New York-based company $GIII said 2Q17 results did not meet expectations. The non-outerwear wholesale business was strong in all categories and had double-digit growth. The $40MM shortfall in $GIII's net sales against guidance primarily reflects later-than-expected timing for outerwear shipments and the shortfall in retail outlet sales.

$GIII {{ '2017-06-06T19:51:50+0000' | timeago}} • Webcast

$GIII said a $30MM top-line beat during 1Q18 helped the company race past its guidance. The top-line strength during the period was driven by Tommy Hilfiger and Donna Karan, as well as gross margin improvement for Calvin Klein on the sportswear and dress side.

$GIII {{ '2017-06-06T19:37:27+0000' | timeago}} • Webcast

$GIII anticipates losses from the Donna Karan operations during 1H18 that will be partially offset by operating profitability beginning in 3Q18, when the company commences its shipments of DKNY and Donna Karan products produced by G-III.

$GIII {{ '2017-06-06T19:09:20+0000' | timeago}} • Webcast

In 1Q18, $GIII closed 28 Bass and Wilsons location out of a total of 59 planned closings in FY18. Additionally, $GIII plans to close 45 more locations in the next fiscal year.

$GIII {{ '2017-06-06T18:58:38+0000' | timeago}} • Webcast

$GIII said it has eliminated $4MM of annual run-rate expenses during 1Q18, and has identified another $8MM. By the year-end, the company hopes to achieve $12MM of run-rate expense saving.

$GIII {{ '2017-06-06T12:01:03+0000' | timeago}} • Announcement

$GIII expects net sales of about $520MM for 2Q18, net loss of $20-15MM and loss per share of $0.40-0.30. This forecast compares to net sales of $442MM, net loss of $1.3MM and loss per share of $0.03 reported for 2Q17. On non-GAAP basis, the company expects net loss of $17-12MM and loss per share of $0.34-0.24.

$GIII {{ '2017-06-06T11:58:43+0000' | timeago}} • Announcement

$GIII lifted FY18 net sales outlook to about $2.76Bil from about $2.73Bil, its net income estimate to $52-57MM from $40-45MM and its EPS guidance to $1.04-1.14 from $0.80-0.90. The company also raised its non-GAAP net income forecast to $60-65MM from $49-54MM and its non-GAAP EPS estimate to $1.20-1.30 from $0.99-1.09.

$GIII {{ '2017-06-06T11:58:31+0000' | timeago}} • Announcement

$GIII slipped to a loss in 1Q18 from a profit last year, due to operating losses from the operation and ownership of DKI. Net loss was $10.39MM or $0.21 per share compared to a profit of $2.77MM or $0.06 per share last year. Net sales grew to $529.04MM from $457.4MM. Non-GAAP loss per share was $0.18 compared to EPS of $0.06 a year ago.

$GIII {{ '2017-03-27T15:50:05+0000' | timeago}} • Webcast

$GIII said the losses on the closed store businesses in retail are about $2-3MM. The company is looking for improvement to the magnitude of around $15-20MM in terms of the operating loss from the current year. This will be significantly driven by the achieved expense reductions.

$GIII {{ '2017-03-27T15:24:47+0000' | timeago}} • Webcast

In 4Q17, net sales of $GIII’s wholesale operations segment increased 19.5% to $476MM. Net sales and licensing revenue included from Donna Karan were $17MM in the wholesale operations segment. Net sales of the retail operations segment decreased 2% to $172MM. Net sales included from Donna Karan were $12MM in the retail segment.

$GIII {{ '2017-03-27T15:13:17+0000' | timeago}} • Webcast

$GIII's outerwear business increased in 4Q17 over last year. Tommy Hilfiger and Calvin Klein posted a strong performance. Other standout businesses in 4Q17 in wholesale were Calvin Klein Sportswear, Performance and Handbags, all with growth in the mid-teens over last year. Tommy Hilfiger’s strongest category was denim.

$GIII {{ '2017-03-27T15:03:29+0000' | timeago}} • Webcast

$GIII is closing nearly a third of its Wilsons and Bass stores. Combined through lease expirations, $GII expects to close 60 Wilsons and Bass stores by FY18-end and an additional 55 in FY19. A third of the closings in FY18 will occur before 1Q18-end. $GIII achieved annual run rate savings of $4MM and expects to reach $12MM by beginning of 3Q18.

$GIII {{ '2017-03-27T14:10:49+0000' | timeago}} • Announcement

For 1Q18, $GIII is forecasting net sales of approx. $500MM. Net loss is expected to be $20-25MM or $0.41-0.51 per share. Adjusted net loss is expected to be $0.35-0.45 per share.

$GIII {{ '2017-03-27T14:10:22+0000' | timeago}} • Announcement

For FY18, $GIII is forecasting net sales of approx. $2.73Bil. Net income is expected to be $40-45MM and diluted EPS is expected to be $0.80-0.90. Adjusted net income is expected to be approx. $49-54MM or $0.99-1.09 per diluted share. $GIII is projecting full-year 2018 adjusted EBITDA of $162-171MM.

$GIII {{ '2017-03-27T14:09:59+0000' | timeago}} • Announcement

$GIII reported a net loss of $20.1MM or $0.42 per share in 4Q17 compared to a net income of $8MM or $0.16 per share in 4Q16. Net sales rose 14.4% to $603MM from last year, reflecting strength in the non-outerwear wholesale business, including new product launches, as well as the inclusion of about $29MM of net sales from the DKI business.

$M {{ '2017-03-27T13:36:26+0000' | timeago}} • Announcement

$M and $GIII announced agreement whereby $M will serve, beginning February 2018, as the exclusive U.S. department store for sales of DKNY women’s apparel and accessories. $M exclusivity covers DKNY women’s apparel, handbags and shoes, in addition to women's and men's outerwear and swim.

$GIII {{ '2016-12-02T11:31:22+0000' | timeago}} • Webcast

In terms of Donna Karan, the acquisition which closed today, $GIII said it feel confident to gain some improvement in operating margins over the mid-term, driven by strong licensing revenue stream that's highly profitable. Consequently, the company forecasted that for three years its operating margins at Donna Karan will get to about the 14% level.

$GIII {{ '2016-12-02T11:03:59+0000' | timeago}} • Webcast

$GIII expects its non-outerwear sales growth to remains strong in 4Q17, with a planned increase of approx. 20%. The company is also anticipating low single-digit comp increases at both Wilsons and Bass compared to negative 8% and positive 12% comps respectively in the prior year.

$GIII {{ '2016-12-02T10:55:30+0000' | timeago}} • Webcast

$GIII said its non-outerwear product categories' performance was in line with expectations and was up double digits. The company also saw increased business in its Calvin Klein handbags and sportswear categories and the new launches of Karl Lagerfeld and Tommy Hilfiger also performed in line with expectations.

$GIII {{ '2016-12-02T10:47:07+0000' | timeago}} • Webcast

$GIII's portfolio of Calvin Klein, Tommy Hilfiger, Karl Lagerfeld and Donna Karan performed well during 3Q17. The company continues to expect Calvin Klein to be up high single digits overall. $GIII added that its Ivanka Trump line continues to sell well and is expecting good increases next year.

$GIII {{ '2016-12-02T10:43:05+0000' | timeago}} • Webcast

$GIII stated the company is seeing YoverY improvement in its Wilsons retail business and expects to achieve a better holiday season in 4Q17 than a year ago. In Bass outdoor lifestyle store, comps declined 11% in 3Q17 against a plan of up 1%.

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