G-III Apparel Group (GIII) Tops Q1 EPS by 23c; Announces New Long-Term License for the Halston Brand

G-III Apparel Group (NASDAQ: GIII) reported Q1 EPS of $0.13, $0.23 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $606.6 million versus the consensus estimate of $558.31 million.

G-III has signed a global twenty-five year master license agreement with Xcel Brands to design and produce all categories of men’s and women’s product for the Halston brand. The agreement provides for an initial term of five years, followed by a twenty-year period, as well as a purchase option at the end of the twenty-five year term. First deliveries of Halston product are expected for the Fall 2024 season. The product will be distributed globally through better department stores and digital channels. G-III believes that significant opportunity exists in the better women’s apparel space where G-III has significant expertise. The Halston brand joins G-III’s portfolio of some of the largest American brands in the world.

GUIDANCE:

G-III Apparel Group sees FY2024 EPS of $2.80-$2.90, versus the consensus of $2.54. G-III Apparel Group sees FY2024 revenue of $3.29 billion, versus the consensus of $3.19 billion.

G-III Apparel Group sees Q2 2024 EPS of ($0.06)-$0.04, versus the consensus of $0.31. G-III Apparel Group sees Q2 2024 revenue of $595 million, versus the consensus of $584.37 million.

For earnings history and earnings-related data on G-III Apparel Group (GIII) click here.

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