G-Iii Apparel ( (GIII) ) has released its Q1 earnings. Here is a breakdown of the information G-Iii Apparel presented to its investors.
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G-III Apparel Group, Ltd., a global leader in the fashion industry, specializes in the design, sourcing, and marketing of a diverse portfolio of over 30 brands, including DKNY, Karl Lagerfeld, and Donna Karan.
In its first quarter fiscal 2026 earnings report, G-III Apparel Group reported a net income per diluted share of $0.17, surpassing last year’s $0.12, with non-GAAP net income per diluted share reaching $0.19. The company achieved net sales of $583.6 million, slightly down from $609.7 million the previous year, yet exceeded earnings guidance.
Key highlights from the report include a notable reduction in total debt by 96% to $18.7 million and a decrease in inventories by 5% to $456.5 million. The company also repurchased 807,437 shares for $19.7 million during the quarter. Despite a 4% decline in net sales, the company managed to drive earnings growth through its owned brands, offsetting the exit from Calvin Klein jeans and sportswear.
Looking ahead, G-III Apparel Group reaffirms its net sales guidance for fiscal 2026, anticipating net sales of approximately $3.14 billion. The company is actively working to mitigate tariff impacts through strategic sourcing and cost-saving measures, positioning itself to capture additional market share and drive long-term profitability.
G-III Apparel Group remains confident in its brand portfolio’s global appeal and growth potential, as it navigates current economic challenges with a focus on strengthening its competitive position and enhancing shareholder value.