Why G-III Apparel Shares Are Plunging Today

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G-III Apparel Group, Ltd. (NASDAQ:GIII) shares are trading lower after the company reported first-quarter FY25 results.

Sales of $609.7 million missed the consensus estimate of $616.3 million. The gross profit rose to $258.9 million from $249.8 million a year ago. Operating profit declined to $13.504 million from $15.264 million in the prior year quarter.

Adjusted EPS stood at $0.12 versus $0.13 in the prior year quarter and above the consensus loss of $0.03.

The company held $508.4 million in cash and equivalents as of April-end.

Outlook: G-III continues to see FY25 sales of $3.20 billion (consensus $3.189 billion) and raised adjusted EPS to $3.58-$3.68 (from $3.50 …

Full story available on Benzinga.com