G-III Apparel Group has raised its full-year earnings forecast following better-than-expected third-quarter earnings, even as the US firm's sales declined by 9 per cent to $988.6 million.
Owner of brands including Karl Lagerfeld, Sonia Rykiel, and DKNY, the New York-based company reported net earnings of $80.6 million, or $1.84 per diluted share, for the three months ending October 31. This compares to earnings of $114.8 million, or $2.55 per diluted share, in the same quarter last year.
Despite lower profits compared to the prior-year period, Morris Goldfrab, Chairman and CEO, GIII, says, the company delivered strong Q3 results with gross margins and earnings far exceeding expectations. He attributed this performance to the strength of their ‘go-forward portfolio,’ especially their owned brands, a healthy mix of full-price sales and mitigation efforts against tariffs.
To reflect their Q3, FY26 outperformance tempered by the uncertainties around the consumer environment and tariff-related margin pressures, G-III is now raising its FY26 earnings guidance.
In June, G-III Apparel filed a $250 million lawsuit against PVH Corp, escalating a dispute between the two fashion giants. Filed in New York state court, the complaint alleges, PVH and its Calvin Klein Inc and Tommy Hilfiger licensing divisions breached licensing agreements and interfered with business relationships.
