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G-III Apparel Group Ltd (NASDAQ:GIII) shares are trading lower after the company reported a fourth-quarter FY24 sales decline of 10.5% year-on-year to $764.78 million, missing the analyst consensus estimate of $817.48 million.
The gross profit rose 0.2% Y/Y to $281.9 million, with the margin expanding 390 basis points to 36.8%.
The operating margin was 6.1%, and operating income for the quarter was $46.3 million.
Adjusted EPS of $0.76 beat the analyst consensus estimate of $0.68.
The company held $507.8 million in cash and equivalents as of January 31, 2024.
Outlook: G-III sees FY25 sales of $3.20 billion versus an estimate of $3.203 billion.
The company expects FY25 adjusted EPS of $3.50 – $3.60 versus the consensus of $3.89 and sees Adjusted EBITDA of $290 million – $295 million.
G-III sees first-quarter net sales of $615 million versus an estimate of $614.7 million and an adjusted EPS of $(0.10) – $0.00 against an estimate of $0.12.
Price Action: GIII shares are trading lower by 15.9% at $25.50 on the last check Thursday.
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Posted In: GIII
