G-III Apparel Group reported net sales for the second quarter decreased 2 percent to 644.8 million dollars. Net income for the quarter rose to 24.2 million dollars or 53 cents and non-GAAP net income per diluted share increased to 52 cents.
The company expects 2025 net sales to increase by approximately 3 percent to 3.20 billion dollars, net income is expected to be between 179 million dollars and 184 million dollars or diluted earnings per share between 3.94 and 4.04 dollars.
Non-GAAP net income is expected to be between 180 million and 185 million dollars, or diluted earnings per share between 3.95 dollars and 4.05 dollars. Adjusted EBITDA is expected to be between 305 million and 310 million dollars.
Commenting on the outlook, Morris Goldfarb, G-III’s chairman and CEO, said: “Given our second quarter earnings per diluted share outperformance, we are reaffirming our fiscal year 2025 net sales and, once again, raising our earnings per diluted share outlook.”
Net sales for the third quarter are expected to increase by approximately 3 percent to 1.10 billion dollars, net income is expected to be in the range of 97 million and 102 million dollars or diluted earnings per share between 2.18 dollars and 2.28 dollars and non-GAAP net income to be between 98 million and 103 million dollars or diluted earnings per share between 2.20 dollars and 2.30 dollars.