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Article Date: June 2017
Word Count: 198

G-III Has Q1 Loss on Donna Karan Costs

Net loss was $10,391,000 against income of $2,771,000 for the first quarter ended Apr. 30 including $22 million in losses and interest expense from Donna Karan, on 16% higher revenues at $529,042,000 vs. $457,403,000. Despite the loss, the results exceeded expectations and GIII shares surged double-digits on the news. G-III’s wholesale business increased 18% to $453 million driven by Tommy Hilfiger and Karl Lagerfeld, and the team sports order book is up against last year, led by NFL. But the retail business continues to disappoint, with Bass and Wilson’s both comping down around 10% hurt by lower traffic and ... Log in to view full article.


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