G-III Apparel Group (GIII) Tops Q3 EPS by 20c; Boosts FY14 Outlook

G-III Apparel Group (NASDAQ: GIII) reported Q3 EPS of $3.09, $0.20 better than the analyst estimate of $2.89. Revenue for the quarter came in at $812.3 million versus the consensus estimate of $802 million.

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Morris Goldfarb, G-III’s Chairman, Chief Executive Officer and President, said, “We are pleased to report a record third quarter. Our outerwear shipments were strong and that business performed well at retail. We experienced growth in several other areas of our business. Our sportswear and dress businesses also contributed to our increased sales and earnings. We believe we are well positioned for the remainder of the year.”

Mr. Goldfarb continued, “We are expecting a good holiday season for both our wholesale and retail businesses. Diversification across channels is supported by a strong brand portfolio that has resulted in our significant growth over the past several years. Our team and culture have never been more energized and we remain focused on continuing to implement successful business strategies and creating value for our shareholders.”

G-III Apparel Group sees FY2014 EPS of $4.65-$4.80, versus prior guidance of $4-$4.15 and the consensus of $4.1. G-III Apparel Group sees FY2014 revenue of $2.13 billion, versus prior guidance of $2.11 billion and the consensus of $2.11 billion.

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

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