G-III APPAREL Reports Second Quarter Earnings Results for FY2024
September 13, 2023
🌥️Earnings Overview
On September 7, G-III APPAREL ($NASDAQ:GIII) reported their earnings results for the second quarter of FY2024 that ended on July 31 2023. Total revenue for this period rose 9.0% year-over-year to USD 659.8 million, however net income decreased by 54.7% year-over-year to USD 16.4 million.
Price History
The company’s stock opened at $23.2 and soared by 24.2% from the previous closing price of 19.3, closing at $24.0. This strong showing in the stock market highlights investor confidence in the company’s future success. The increase in sales was attributed to a strong performance in the company’s wholesale business and store expansion initiatives. G-III APPAREL also reported strong performance in its international markets.
Overall, G-III APPAREL’s second quarter results demonstrate strong performance across all aspects of the business. With increasing sales and profits, G-III APPAREL is well-positioned to continue its success into the third quarter and beyond. 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
GoodWhale has analyzed G-III APPAREL‘s financials and given it a health score of 8/10 in terms of cashflows and debt, indicating it could safely ride out any crisis without the risk of bankruptcy. We classify G-III APPAREL as a ‘rhino’, meaning that it has achieved moderate revenue or earnings growth. This makes G-III APPAREL an attractive investment opportunity for various types of investors. Its assets are strong, as is its profitability, while its growth and dividend are both rated medium. With this in mind, investors looking for a steady and reliable return on their investments may find G-III APPAREL a suitable option. 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 better than expected revenue for the second quarter of FY2024, up 9.0% year-over-year.
However, net income decreased by 54.7%, bringing the company’s net income down to USD 16.4 million. Investors reacted positively to the news, pushing the stock price up the same day. Analysts suggest that despite the decrease in net income, the positive revenue signals could indicate a potential turnaround for G-III Apparel in the near future. Investors should watch for further developments in this area, as well as any other news that could affect the stock price.
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