G-III Expects Excellent ‘06

by MR Magazine Staff Feb 22, 2007

NEW YORK – G-III Apparel Group put the pieces together in 2006.

In a preliminary, unaudited report on the fiscal year ended Jan. 31 released Wednesday, the New York-based outerwear and sportswear marketer said that sales for the just-concluded fiscal year are expected to finish up at between $425 million and $428 million versus $324 million in the prior year. Net income is projected at between $12.5 million and $13.5 million against year-ago earnings of $7.1 million, translating into earnings per diluted share of 90 to 98 cents against 58 cents.

EPS was calculated based on 14 million shares last year as compared to 12.2 million shares in the earlier year.

G-III produces apparel under private and owned labels, as well as under licenses for brands including Calvin Klein, Sean John, Kenneth Cole, Guess, Izod, Tommy Hilfiger and several sports-related brands.