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Donna Karan parent G-III shares rise after earnings beat

G-III Apparel Group Ltd. (GIII) stock rose 3.6% in Thursday premarket trading after the fashion company reported fourth-quarter earnings that beat expectations. Among G-III's licensed and proprietary brands are Donna Karan and DKNY, Tommy Hilfiger and Karl Lagerfeld. Net income totaled $14.6 million, or 30 cents per share, down from $25.3 million, or 52 cents per share, last year. Sales totaled $526.2 million, down from $754.6 million last year. The FactSet consensus was for EPS of 23 cents and sales of $535.0 million. Fourth-quarter earnings include a 17-cents-per-share loss from the permanent closure of Wilsons Leather and G.H. Bass stores. For the first quarter, G-III expects sales of $460.0 million and EPS of 5 cents to 15 cents. The FactSet consensus is for sales of $502.2 million and a loss of 3 cents per share. G-III stock has gained nearly 600% over the past year while the S&P 500 index is up 65.7% for the period.

-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com

 

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03-18-21 0924ET

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