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G-III Apparel Stock Plunges Nearly 13% on Weak Performance and Poor Guidance
New York - Thursday, G-III Apparel Group, Ltd. (NASDAQ:GIII) reported fourth-quarter results that missed analyst expectations and issued weak guidance for fiscal 2027 amid the exit from Calvin Klein and Tommy Hilfiger licensing agreements.
The company’s stock fell 12.75% in pre-market trading following the announcement.
The apparel manufacturer reported an adjusted loss of $0.30 per share for the quarter ending January 31, 2026, below analyst estimates. Revenue declined 8.1% year-over-year to $771.5 million from $839.5 million.
The quarter included $17.5 million in bad debt expenses, mainly related to Saks Global bankruptcy, equivalent to $0.32 per share after tax.
For the full fiscal year 2026, net sales decreased 7% year-over-year to $2.96 billion from $3.18 billion.
The company reported adjusted earnings of $2.61 per share, including a $0.30 impact from Saks Global bad debt expenses. G-III attributed the sales decline to a $254 million revenue loss from the PVH brands, despite mid-single-digit growth in its key owned brands.
“Fiscal 2026 was a pivotal year for G-III. Our brand strength and global recognition, combined with disciplined operations and a strong balance sheet, enable us to perform steadily in a challenging environment,” said Chairman and CEO Morris Goldfarb.
For fiscal 2027, G-III expects net sales of approximately $2.71 billion, below the $2.96 billion in 2026, including $470 million in sales loss from Calvin Klein and Tommy Hilfiger products.
The company projects adjusted earnings per share between $2.00 and $2.10, with a midpoint of $2.05. For the first quarter, G-III forecasts revenue of about $530 million, compared to $583.6 million in the same period last year, with adjusted loss per share between -$0.40 and -$0.30.
At year-end, the company held $406.7 million in cash and returned over $50 million to shareholders through share repurchases and dividends. G-III launched an annual cost-saving plan of $25 million, expected to deliver benefits in fiscal 2028.
This article was translated with AI assistance. For more information, see our Terms of Use.