G-III Apparel Group (NASDAQ: GIII) reported Q3 EPS of $2.16, $0.38 better than the analyst estimate of $1.78. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $1.01 billion.

GUIDANCE:

G-III Apparel Group sees FY2022 EPS of $3.65-$3.75, versus the consensus of $3.23. G-III Apparel Group sees FY2022 revenue of $2.77 billion, versus the consensus of $2.68 billion.

• The Company today raised its guidance for the fiscal year ending January 31, 2022. As the developments associated with the COVID-19 pandemic continue to be fluid, the Company’s fiscal year 2022 guidance contemplates the expected impact from the current supply chain conditions, including expected increased shipping costs and delays in receipt of goods. However, the guidance does not contemplate any reimposition of government-mandated store closures or other governmental restrictions as a result of the COVID-19 pandemic. The reimposition of store closures or other restrictions could have a material impact on our net sales, results of operations and supply chain during fiscal 2022. The Company’s fiscal 2022 results could differ materially from its current outlook as a result of the occurrence of any of these or other uncontemplated events.
• For fiscal 2022, the Company expects net sales of approximately $2.77 billion and net income between $180.0 million and $190.0 million, or between $3.65 and $3.75 per diluted share. The Company previously forecasted net sales of approximately $2.70 billion and net income between $155.0 million and $165.0 million, or between $3.10 and $3.20 per diluted share. This compares to net sales of $2.06 billion and net income of $23.5 million, or $0.48 per diluted share, last year. Last fiscal year’s results included net sales of $91.8 million and a net loss of $(1.14) per diluted share associated with the Wilsons Leather and G.H. Bass store operations.

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