×
6 989
Fashion Jobs
HARRODS
Cleaning Operative- Day or Night
Permanent · LONDON
HARRODS
Uniform Security Officer (Cctv Operator)
Permanent · LONDON
FLANNELS
Beauty Brand Manager - Pat Mcgarth
Permanent · BELFAST
HUGO BOSS UK LTD.
Sales Executive - Shoes & Accessories + Bodywear & Hosiery
Permanent ·
HUGO BOSS UK LTD.
Womenswear Sales Manager
Permanent ·
HUGO BOSS UK LTD.
Ecommerce Marketplace Manager Northern Hub
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
HUGO BOSS UK LTD.
Sales Executive Boss Menswear
Permanent ·
GANT
Brand Consultant - Full Time - Gant House of Fraser Manchester - mw/lw
Permanent · MANCHESTER
CANADA GOOSE
Security Ambassador, Full-Time
Permanent · MANCHESTER
NEXT
Delivery Coordinator - Northampton Outlet
Permanent · NORTHAMPTON
NEXT
Sales Manager - York Vangarde
Permanent · YORK
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent ·
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent · NEWCASTLE UPON TYNE
AVON
Indirect Procurement Junior Manager
Permanent · NORTHAMPTON
AVON
Internal Audit Manager Natura &CO
Permanent · LONDON
HEAD OFFICE
Customer & Marketing Planning Manager – Technology
Permanent · LONDON
PRIMARK
Visual Merchandising Manager (Level 1)
Permanent · Cambridge
ALL SAINTS
Franchise Account Executive
Permanent · London
FRASERS GROUP
Warehouse Supervisor - Evening Shift
Permanent · SHIREBROOK
FRASERS GROUP
Warehouse Supervisor - Night Shift
Permanent · SHIREBROOK
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · NETHERFIELD
Ads
Published
Jun 8, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

G-III quarterly sales, earnings surge; increases full-year guidance

Published
Jun 8, 2022

G-III Apparel Group announced on Tuesday revenues for the first quarter surged by more than 30%, as consumers returned to work and resumed social activities, driving demand for the company's brands and products.


Karl Lagerfeld


The New York-based company said net sales for the first quarter ending April 30 increased 32.5% to $688.8 million from $519.9 million in the prior year’s quarter. The company, which owns DKNY, Donna Karan and Karl Lagerfeld, reported net income of $30.6 million, or $0.62 per diluted share, compared to $26.3 million, or $0.53 per diluted share, in the prior year’s quarter.

“Our strong momentum continued in the first quarter of fiscal 2023 exceeding both our top and bottom line guidance, despite a challenging environment," said Morris Goldfarb, CEO of G-III. "Consumers are refreshing their wardrobes as they return to work and resume social activities, driving demand for our products. Our globally recognized power brands: DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld, combined with our ability to quickly pivot resources to respond to trends and deliver the right merchandise, position us well to capitalize on demand for products in the marketplace.”

Looking ahead, G-III raised its guidance for fiscal 2023. The company expects net sales of approximately $3.24 billion and net income between $205 million and $215 million, or between $4.23 and $4.33 per diluted share. This compares to net sales of $2.77 billion and net income of $200.6 million, or $4.05 per diluted share, last year. 

“We remain extremely focused on our strategic priorities to deliver continued long-term profitable growth," added Goldfarb, whose company recently increased its stake in famed fashion house Karl Lagerfeld to take full ownership.

"Our recent Karl Lagerfeld acquisition has further expanded our portfolio of owned brands and our global presence. Our experienced senior leadership, world class teams and well-developed supply chain infrastructure set the stage for another strong year of market share gains and our ability to deliver on our raised outlook.”

Copyright © 2022 FashionNetwork.com All rights reserved.