GIII - G-III Apparel edges past analyst estimates raises outlook

G-III Apparel (NASDAQ:GIII) bucked bearish retail sentiments to beat analyst estimates and raise its outlook on Tuesday. The New York-based clothing company reported non-GAAP EPS of $0.72, beating expectations by $0.14 for its fiscal fourth quarter, while revenue of $688.8M came in $91.45M above estimates.  “Our strong momentum continued in the first quarter of fiscal 2023 exceeding both our top and bottom line guidance, despite a challenging environment,” CEO Morris Goldfarb said. “Consumers are refreshing their wardrobes as they return to work and resume social activities, driving demand for our products.” He added that DKNY, Donna Karan, Calvin Klein, and Karl Lagerfeld among other brands were key to maintaining consumer demand. For the full-year, Goldfarb voiced confidence in continued strong demand and noted that the “well-developed supply chain infrastructure” for the company should insulate margins and allow for a raised profit outlook. For the present fiscal year, the company expects

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G-III Apparel edges past analyst estimates, raises outlook