G-III Apparel Group, a prominent US fashion firm, reported a slight increase in net sales to $609.7 million in Q1 FY25 compared to $606.6 million in the previous year. Net income for the quarter was $5.8 million, or $0.12 per diluted share, up from $3.2 million, or $0.07 per diluted share, in the prior year. On a non-GAAP basis, net income per diluted share was $0.12, down from $0.13 in the same period last year.
G-III Apparel Group forecasts net sales of $3.20 billion and net income of $170.0 million to $175.0 million for fiscal 2025, compared to $3.10 billion in net sales and $176.2 million in net income for fiscal 2024.
G-III Apparel Group expects net sales of around $650.0 million for the second quarter of fiscal 2025, slightly lower than the previous year’s $659.8 million. Projected net income for the quarter is between $10.0 million and $15.0 million, or $0.22 to $0.32 per share, compared to $16.4 million, or $0.35 per share, in the same period last year. The company’s strong start to fiscal 2025 was highlighted by double-digit growth in DKNY and Karl Lagerfeld, as well as a successful relaunch of Donna Karan. Chairman and CEO Morris Goldfarb emphasized G-III’s investment in owned brands and meeting consumer needs.
