G-III Apparel Group Ltd, the maker of apparel and products for such labels as Tommy Hilfiger, Calvin Klein, and Kenneth Cole, has reported a better-than-expected 8.1% increase in third-quarter earnings.
However, the company also lowered its earnings forecast for the year, and now expects per-share adjusted profit between $2.65 and $2.80. G-III also announced plans to increase its stock-repurchase program to 5 million shares from 3.75 million shares.
Meanwhile, PVH Holdings also beat analysts’ expectations, even if its numbers weren’t up. Net income fell slightly to $221.9 million, while total revenue decreased 3.1% and gross profit margin fell by 3.8%.
In worse news, Lands End posted strongly negative numbers with net profit down to $10.7 million, or 33 cents per share, a sharp drop from 2014, and sales were down 10 percent from last year.