G-III APPAREL Reports Second Quarter Earnings Results for Fiscal Year 2024
September 9, 2023
🌥️Earnings Overview
On September 7, 2023, G-III ($NASDAQ:GIII) Apparel reported its earnings results for the second quarter of FY2024, ending on July 31, 2023. Despite a 9.0% year-over-year increase in total revenue to USD 659.8 million, the company’s net income decreased by 54.7%, falling to USD 16.4 million.
Share Price
This closing price is a 24.2% increase from the previous closing price of 19.3. This impressive surge in stock prices shows that the company is performing well despite the current economic instability. G-III APPAREL has also made great strides in terms of their digital presence. Overall, G-III APPAREL has shown strong growth and profitability during the second quarter of fiscal year 2024. With their strong financial performance and growing digital presence, the company is well-positioned to continue to be a profitable and successful player in the fashion industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for G-iii Apparel. More…
| Total Revenues | Net Income | Net Margin |
| 3.2k | -180.34 | 4.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for G-iii Apparel. More…
| Operations | Investing | Financing |
| 217.77 | -8.14 | -165.56 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for G-iii Apparel. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.66k | 1.28k | 30.31 |
Key Ratios Snapshot
Some of the financial key ratios for G-iii Apparel are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.4% | 8.0% | 5.5% |
| FCF Margin | ROE | ROA |
| 6.1% | 7.9% | 4.1% |
Analysis
At GoodWhale, we have conducted an analysis of G-III APPAREL‘s fundamentals. From our Star Chart, we classed G-III APPAREL as a ‘rhino’, indicating that this company has achieved moderate revenue or earnings growth. With regards to its asset, profitability, growth and dividend, G-III APPAREL is strong in asset and profitability, medium in growth and weak in dividend. In addition, G-III APPAREL has a high health score of 8/10 with regard to its cashflows and debt, which indicates that this company is capable to sustain future operations in times of crisis. This makes G-III APPAREL appealing to long-term investors who are looking for steady returns from established companies such as this one. Value or income investors may also be attracted to this stock due to its solid asset and profitability positions. More…
Peers
It is a publicly traded company that competes with other fashion companies such as Genesco Inc, AS Silvano Fashion Group, and Rocky Brands Inc. These companies specialize in producing apparel for men, women, and children. G-III Apparel Group Ltd has maintained a strong presence in the fashion industry by providing high-quality products to consumers.
– Genesco Inc ($NYSE:GCO)
Genesco Inc is a Nashville-based company that specializes in footwear, apparel, and accessories. As of 2022, the company had a market cap of 556.98 million dollars and a Return on Equity of 14.06%. The market cap is the total value of the company based on its share price and the total number of outstanding shares. The Return on Equity (ROE) is a measure of profitability that shows how much of the company’s profits are created from its equity. Genesco’s strong ROE indicates that the company is efficiently using its equity to generate profits and maximize shareholder value.
– AS Silvano Fashion Group ($LTS:0FZD)
Silvano Fashion Group is an Italian clothing company that specializes in the design and production of high-end fashion apparel. The company is well-known for its stylish and classic designs, which have been featured in many fashion magazines and runway shows. As of 2022, the company has a market cap of 39.53M, with a Return on Equity of 22.76%. This indicates that the company is well-managed, as it has been able to generate a significant amount of profits relative to its equity base, making it an attractive investment for potential investors.
– Rocky Brands Inc ($NASDAQ:RCKY)
Rocky Brands Inc is an Ohio-based footwear and apparel company that specializes in outdoor, work, and military footwear, as well as western and athletic footwear. As of 2022, the company has a market cap of 176.13M and a Return on Equity (ROE) of 14.69%. This market cap indicates the total value of the company, which is calculated by multiplying its share price by the total number of outstanding shares. The ROE is a measure of how effectively a company has used its assets to generate profits, and in Rocky Brands’ case, 14.69% suggests that the company is generating a decent return on its equity.
Summary
G-III Apparel reported its second quarter earnings results for FY2024 on September 7 2023. Total revenue increased 9.0% year over year to USD 659.8 million, however net income decreased 54.7% to USD 16.4 million. Despite the decrease in net income, the stock price moved up the same day. Overall, G-III Apparel has posted positive sales growth, but investors should keep an eye on their net income for further signs of growth.
Additionally, any news or events that may affect the company’s performance should also be taken into consideration for a comprehensive investing analysis.
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