G-III Apparel Group Ltd. (GIII) Releases Earnings Results, Beats Expectations By $0.03 EPS

G-III Apparel Group Ltd. (GIII) reported quarterly earnings results on Wednesday, Jun-1-2016. The company said it had a profit of $0.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.03. The company posted revenue of $457.40 million in the period, compared to analysts expectations of $473.22 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on G-III Apparel Group Ltd.. Shares were Reiterated by Telsey Advisory Group on Mar 23, 2016 to “Outperform” and Lowered the Price Target to $ 54 from a previous price target of $64 .Shares were Reiterated by Wunderlich on Mar 23, 2016 to “Buy” and Lowered the Price Target to $ 52 from a previous price target of $62 .

G-III Apparel Group Ltd. opened for trading at $38.49 and hit $39.13 on the upside on Friday, eventually ending the session at $38.55, with a gain of 0.16% or 0.06 points. The heightened volatility saw the trading volume jump to 3,61,642 shares. Company has a market cap of $1,756 M.

In a different news, on Apr 18, 2016, Laura H Pomerantz (director) sold 109 shares at $45.39 per share price. According to the SEC, on Oct 13, 2015, Sammy Aaron (Vice Chairman) sold 27,159 shares at $64.94 per share price. On Oct 8, 2015, Wayne S Miller (Chief Operating Officer) sold 35,000 shares at $64.76 per share price, according to the Form-4 filing with the securities and exchange commission.

G-III Apparel Group Ltd. designs manufactures and markets a range of apparel products. The Company’s apparel products include outerwear dresses sportswear swimwear women’s suits and women’s performance wear as well as footwear luggage and women’s handbags small leather goods and cold weather accessories. The Company operates through three segments Licensed Products Non-Licensed Products and Retail Operations. The Licensed products segment includes sales of products under brands licensed by the Company from third parties. The Non-licensed products segment includes sales of products under its own brands and under private label brands. The retail operations segment consists primarily of its Wilsons Leather and G.H. Bass stores as well as Calvin Klein Performance stores.

G-III Apparel Group Ltd.

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