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G-III Apparel FY 2019 Sales Climb 9.6% To USD 3.08 BN

G-III Apparel

Fashion retail brands such as DKNY, Donna Karan, Vilebrequin, Marc New York, Eliza J and Jessica Howard are owned by the US-based G-III Apparel Group which also has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld Paris, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Levi’s and Dockers brands.

The Group has performed well during the fiscal 2019 and the fourth quarter with the above mentioned brands contributing significantly to the growth.

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Morris Goldfarb, G-III’s Chairman and CEO, said, “We are pleased to have reported fourth quarter results that capped off a record year for G-III in which we surpassed US $ 3 billion in net sales and achieved record profits fueled by our five global power brands, DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld.”

G-III Apparel’s net sales for the fiscal year ended January 31, 2019 increased 9.6 percent to US $ 3.08 billion from US $ 2.81 billion in the previous year.

Meanwhile, the fourth quarter ended with net sales climbing 7.3 percent to US $ 766.8 million against US $ 714.9 million in the fourth quarter last year.

Now for fiscal 2020, G-III Apparel expects US $ 3.28 billion in net sales and US $ 162-167 million in net income.

The fashion company is estimating full-year adjusted EBITDA for fiscal 2020 between US $ 307 million and US $ 313.0 million.

ALSO READ: G-III Apparel Group’s Q3 sales jump 4.7% to USD 1.07 Bn

For the first quarter, G-III Apparel expects net sales of US $ 650 million and net income between US $ 7 million and US $ 12 million..

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