G-III Apparel reported better-than-expected first-quarter results on Friday and raised its earnings outlook for fiscal 2027, as the company continued to gain momentum across its portfolio of owned and licensed brands while preparing for the acquisition of fashion label Marc Jacobs.
The New York-based apparel company posted first-quarter net sales of $536 million for the period ended April 30, down 8% from $583.6 million a year earlier. Meanwhile, net income climbed to $66.5 million, or $1.50 per diluted share, compared with $7.8 million, or $0.17 per diluted share, in the prior-year quarter.
“I am very pleased with our first quarter results, which demonstrate the G-III team’s ability to execute in a dynamic environment. The quarter was better than expected with both our net sales and earnings coming in ahead of guidance,” said Morris Goldfarb, G-III’s chairman and chief executive officer.
“Our go-forward portfolio saw continued momentum and healthy full-price selling, which contributed to meaningful gross margin expansion versus the prior year.”
The results come as G-III advances its transformation into a more brand-focused business. Earlier this year, the company announced an agreement to acquire the Marc Jacobs brand in partnership with WHP Global, a move Goldfarb described as a significant step in accelerating the company’s evolution into a “brand-led global powerhouse.”
Looking ahead, G-III raised its fiscal 2027 earnings guidance while maintaining its sales outlook. The company expects full-year net sales of approximately $2.71 billion, reflecting the loss of roughly $470 million in revenue tied to the expiration of its licenses for Calvin Klein and Tommy Hilfiger products. Fiscal 2027 net income is projected between $171 million and $175 million, or $3.85 to $3.95 per diluted share.
For the second quarter, G-III expects net sales of approximately $570 million and earnings per diluted share between $0.15 and $0.25.
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