Q1 sales double at G-III Apparel
Sports and outerwear apparel manufacturer G-III Apparel Group, Ltd. has reported a significant sales increase for its first quarter ended April 30. Sales totalled $75.4 million compared with just $35.1 million in the prior-year period.
Net sales for the second quarter ended July 31 are expected to be approximately $100 million compared with $83.9 million in the second quarter of 2007. It anticipates that net loss will be approximately $3.6 million compared with net loss of $884,000 in last year’s second quarter.
Sales for the year ended January 31 are expected to be in the range of $650 million to $660 million and net income is likely to be between $21.8 million and $22.7 million.
G-III has licenses with brands such as Calvin Klein, Guess?, Tommy Hilfiger and Donald Trump, and sports licences with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Louisville Slugger, World Poker Tour and more than 60 universities across the USA.
