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In my previous article, titled "G-III Apparel Group Will Be A Coronavirus Winner", I explained why I expected G-III Apparel Group (GIII) would emerge from the present coronavirus lockdowns as a (stock) winner.
That thesis was based on several solid pillars:
GIII was reliant on the wholesale channel (91% of revenues) while having a low physical retail exposure (9%). This ensured low costs/cash burn "to stay shut".
The company had valuable brands. This ensures comparatively high wholesale margins (in normal times).
GIII had high cash levels. This together with a low cash burn