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 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

G-III Apparel Group Ltd Raises FY 2014 Guidance; Issues Q2 2014 Guidance; Earnings Guidance Below Analysts' Estimates
Monday, 3 Jun 2013 04:01pm EDT 

G-III Apparel Group Ltd revised its prior guidance for fiscal 2014 and now expects 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, compared to its previous guidance of net sales of approximately $1.55 billion and net income between $64.3 million and $66.4 million, or a range between $3.10 and $3.20 per diluted share. The Company is now projecting adjusted EBITDA to increase between 14% and 17%, to between approximately $129.5 million and $132.8 million as compared to its previous guidance of between $126.5 million and $129.5 million. For the second quarter of 2014, it expects net sales of approximately $287.0 million, net income to be between $1.1 million and $2.1 million, or between $0.06 and $0.10 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.55 billion, net income of $65.5 million, EPS of $3.20 and EBITDA of $127.6 million for fiscal 2014; revenue of $282.9 million, net income of $2.6 million and EPS of $0.13 for the second quarter of 2014.  Full Article

G-III Apparel Group Ltd Issues FY 2014 Guidance; Earnings Guidance Below Analysts' Estimates; Issues Q1 2014 Guidance Below Analysts' Estimates
Tuesday, 2 Apr 2013 04:00pm EDT 

G-III Apparel Group Ltd announced that for fiscal 2014, the Company is forecasting net sales of approximately $1.55 billion and net income between $64.3 million and $66.4 million, or between $3.10 and $3.20 per diluted share. The Company is projecting adjusted EBITDA for fiscal 2014 to increase approximately 11% to 14% to between approximately $126.5 million and $129.5 million. For the first quarter of 2014, the Company is forecasting net sales of approximately $270.0 million and a net loss between $600,000 and $1.5 million, or between $0.03 and $0.07 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.53 billion, net income of $68.8 million, EPS of $3.34 and EBITDA of $131.3 million for fiscal 2014; revenue of $257.57 million, net income of $(0.40) million and EPS of $(0.02) for the first quarter of 2014.  Full Article

G-III Apparel Group Ltd Raises FY 2013 Earnings Guidance; Lowers FY 2013 Revenue Guidance
Wednesday, 5 Dec 2012 07:00am EST 

G-III Apparel Group Ltd announced that it has revised its prior guidance for fiscal 2013. The Company is now forecasting net sales of approximately $1.39 billion compared to previous guidance of $1.41 billion and net income between $55.5 million and $57.6 million, or between $2.71 and $2.81 per diluted share, compared to its previous guidance of net income between $55.2 million and $57.2 million, or between $2.68 and $2.78 per diluted share. The forecasted net income and net income per share for the full fiscal year reflect the expenses and integration costs of the Vilebrequin acquisition incurred through October 31, 2012, but do not reflect any additional expenses or integration costs related to this acquisition that may be incurred in the fourth quarter of the fiscal year. The Company also revised its forecasted Non-GAAP net income per diluted share for the full fiscal year to $2.82 to $2.92 compared to its previous guidance of between $2.74 and $2.84. The Company is now projecting adjusted EBITDA for fiscal 2013 to increase approximately 20% to 24% to between approximately $110.8 million and $114.2 million compared to $92.4 million in fiscal 2012 and an increase from its previous guidance of adjusted EBITDA of between approximately $108.2 million and $111.5 million.  Full Article

lululemon athletica inc's lululemon athletica canada, PVH Corp's Calvin Klein, Inc And G-III Apparel Group, Ltd. Reached Settlement Agreement In Design Patent Litigation
Tuesday, 20 Nov 2012 04:01pm EST 

lululemon athletica canada inc., a subsidiary of lululemon athletica inc., Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp., and G-III Apparel Group, Ltd., a Calvin Klein, Inc. licensee for Calvin Klein Performance announced that they have entered into a settlement agreement that will resolve the pending design patent litigation related to certain yoga pant designs. The terms of the parties’ settlement agreement are confidential. Pursuant to the agreement, the pending litigation will be dismissed.  Full Article

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