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March 25, 2014
10:27 EDTGIII, GES, PVHG-III Apparel sinks after earnings forecast misses expectations
Shares of clothing maker and retailer G-III Apparel (GIII) are sinking after the company issued first quarter and FY15 guidance below analysts' consensus expectation. WHAT'S NEW: G-III Apparel reported fourth quarter earnings per share of 62c, which was above analysts' consensus of 49c. The company reported fourth quarter revenue of $472.8M, missing analysts' consensus forecast of $489.93M. The company said that it sees first quarter loss per share to be in the range of 10c to 20c while analysts were estimating a gain of 4c. G-III Apparel expects first quarter net revenues of approximately $346M, slightly above analysts' consensus of $345.63M. The company noted that its first quarter results will be negatively affected by its G.H. Bass & Co. acquisition. G-III Apparel project FY15 earnings per share in the range of $3.95-$4.10, which falls below analysts' consensus of $4.30. The company projects FY15 net sales of approximately $2.05B, trailing analysts' estimates of $2.1B. WHAT'S NOTABLE: During the company's fourth quarter earnings conference call, G-III Apparel said it will continue to look for acquisitions and feels that it is on the right path to continue to deliver value. PRICE ACTION: During morning trading, shares of G-III Apparel fell $3.51 or 4.71% to $70.95. OTHERS TO WATCH: Rival apparel makers include Guess (GES), and PVH Corp. (PVH).
News For GIII;PVH;GES From The Last 14 Days
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July 31, 2015
05:35 EDTPVHPVH Corp. announces revised role for Executive Chairman of Tommy Hilfiger
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