Key Developments: G-III Apparel Group Ltd (GIII.OQ)

GIII.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

G-III Apparel Group Ltd announces pricing of public offering of 1.5 mln shares of common stock
Tuesday, 24 Jun 2014 05:45pm EDT 

G-III Apparel Group Ltd:Announces the pricing of an underwritten public offering of 1.5 million shares of its common stock at a price to the public of $77.63 per share.Granted the underwriters a 30-day option to purchase up to an additional 225,000 shares from G-III.Expects to settle and close on June 30, subject to customary closing conditions.  Full Article

G-III Apparel Group announces commencement of public offering of common stock
Monday, 23 Jun 2014 04:05pm EDT 

G-III Apparel Group Ltd:Says that it is offering to sell 1,500,000 shares of its common stock in an underwritten public offering.Underwriters will have a 30-day option to purchase up to an additional 225,000 shares of common stock from G-III.Intends to use the proceeds of the offering for general corporate purposes, which may include acquisitions.Pending application of the funds, G-III intends to pay down outstanding debt under its credit agreement and invest the balance of the net proceeds in short-term, investment grade securities.Barclays Capital Inc. and Piper Jaffray & Co. are acting as bookrunning managers for the offering.Barclays Capital Inc. will serve as the sole representative of the underwriters for the offering.KeyBanc Capital Markets Inc., Brean Capital, LLC, Cowen and Company, LLC and Stephens Inc. will serve as co-managers for the offering.  Full Article

G-III Apparel Group announces european license for G.H. Bass Footwear
Monday, 16 Jun 2014 08:30am EDT 

G-III Apparel Group Ltd:Enters into multi-year wholesale license agreement with UK based Overland Ltd. for the sale of men's, women's and children's footwear under the G.H. Bass and related brands in Europe.Overland plans to sell G.H. Bass footwear primarily to department and specialty stores beginning in the fall of 2014.A companion agreement also enables Overland to operate retail locations throughout Europe.  Full Article

G-III Apparel Group Ltd raises FY 2015 guidance
Tuesday, 3 Jun 2014 07:00am EDT 

G-III Apparel Group Ltd:Now sees FY 2015 net sales of about $2.06 billion.FY 2015 net income between $87.9 and $91.2 million, or a range between $4.05 and $4.20 per diluted share.Compared to its previous guidance of net sales of about $2.05 billion and net income between $85.2 and $88.5 million, or a range between $3.95 and $4.10 per diluted share.FY 2015 revenue of $2.05 billion, net income of $92.4 million and EPS of $4.09 - Thomson Reuters I/B/E/S.  Full Article

G-III Apparel Group Ltd gives Q1, FY 2015 guidance; earnings guidance below analysts' estimates
Tuesday, 25 Mar 2014 07:00am EDT 

G-III Apparel Group Ltd:Forecasts FY 2015 net sales of about $2.05 billion.Fore castes FY 2015 net income between $85.2 million and $88.5 million, or between $3.95 and $4.10 per diluted share.Forecasts FY 2015 EBITDA to increase to between $166.3 million and $171.5 million.Forecasts Q1 2015 net sales of about $346 million.Forecasts Q1 2015 net loss between $2.0 million and $4.0 million, or between $0.10 and $0.20 per share.FY 2015 revenue of $2.1 billion, net income of $90.5 million, EPS of $4.30 and EBITDA of $172.6 million - Thomson Reuters I/B/E/S.Q1 2015 revenue of $346 million, net income of $(0.44) million and EPS of $0.04 - Thomson Reuters I/B/E/S.  Full Article

G-III Apparel Group Ltd gives FY 2014 guidance in line with analysts' estimates - Conference Call
Monday, 13 Jan 2014 12:30pm EST 

G-III Apparel Group Ltd:Sees FY 2014 revenue at $1.73 bln, and net adjusted net EPS at $3.50 to $3.60.FY 2014 revenue of $ 1.73 bln and EPS of $3.60 - Thomson Reuters I/B/E/S.  Full Article

G-III Apparel Group Ltd raises FY 2014 guidance
Wednesday, 4 Dec 2013 07:15am EST 

G-III Apparel Group Ltd:Says it has revised its prior guidance for the fiscal 2014.Sees fiscal 2014 net sales of about $1.73 billion compared to previous guidance of $1.61 billion.Sees net income in the range of $72.0 million to $74.0 million, compared to its previous guidance of between $68.6 million and $70.6 million.Sees earnings per diluted share of $3.47 to $3.57 compared to a previous range of $3.30 and $3.40 per diluted share.Sees Non-GAAP net income per diluted share to be in the range of $3.50 to $3.60.Sees adjusted EBITDA to be between $139.0 million and $142.5 million an increase from its previous guidance of between about $132.3 million and $135.4 million.Says the revised upward guidance includes the expenses associated with the acquisition of G.H. Bass and other potential transactions incurred through Oct. 31, 2013.Says the guidance of $3.47 to $3.57 per diluted share includes a projected net loss of $0.10 to $0.15 per share in the fourth quarter in connection with the operations of its newly acquired G.H. Bass & Co. business.Says the estimates exclude the impact of any purchase price accounting adjustments relating to the acquisition of G.H. Bass.Fiscal 2014 revenues of $1.68 billion, net income of $66.35 million, EBITDA of $128 million and EPS of $3.29 -Thomson reuters I/B/E/S Estimates.  Full Article

PVH Corp To Sell G.H. Bass & Co. Business To G-III Apparel Group, Ltd.
Wednesday, 2 Oct 2013 06:30pm EDT 

PVH Corp announced that it has signed a definitive agreement to sell substantially all of the assets of its G.H. Bass & Co. division to G-III Apparel Group, Ltd. for approximately $50 million in cash. The transaction is expected to close in the beginning of the fiscal fourth quarter 2013 and is subject to certain post-closing adjustments and customary closing conditions.  Full Article

G-III Apparel Group Ltd Announces President Change-Form 8-K
Monday, 23 Sep 2013 04:01pm EDT 

G-III Apparel Group Ltd reported in its Form 8-K that on September 19, 2013, Jeanette Nostra resigned her position as President of G-III Apparel Group, Ltd. (Company). Ms. Nostra will remain employed by the Company, supporting the building of the Company’s international business and global product development for the Company’s Vilebrequin business. In addition, on September 19, 2013, the Board of Directors of the Company (Board) appointed Morris Goldfarb, the Chairman and Chief Executive Officer (CEO) of the Company, as the President of the Company, and elected Ms. Nostra to serve as a member of the Board effective as of September 19, 2013.  Full Article

G-III Apparel Group Ltd Raises FY 2014 Guidance; Issues Q3 2014 Guidance; Earnings Guidance Below Analysts' Estimates
Wednesday, 4 Sep 2013 07:00am EDT 

G-III Apparel Group Ltd revised its prior guidance for fiscal 2014. The Company is now forecasting net sales of approximately $1.61 billion and net income between $68.6 million and $70.6 million, or a range between $3.30 and $3.40 per diluted share, compared to its previous guidance of net sales of approximately $1.57 billion and net income between $66.3 million and $68.4 million, or a range between $3.20 and $3.30 per diluted share. The Company is now projecting adjusted EBITDA for fiscal 2014 to increase between 16% and 19% to between $132.3 million and $135.4 million compared to its previous guidance of adjusted EBITDA between approximately $129.5 million and $132.8 million. For third quarter of 2014, it expects net sales of approximately $620.0 million, net income to be between $52.2 million and $54.2 million, or between $2.52 and $2.62 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.56 billion, net income of $67.6 million, EPS of $3.30 and EBITDA of $130.8 million for fiscal 2014; revenue of $596.8 million, net income of $54.8 million and EPS of $2.67 for the third quarter of 2014.  Full Article

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