G-III Apparel Q2业绩混合：Q3指引低于预期但FY27 EPS略超预期，盘前跌逾10%

Shares of G-III Apparel ( GIII ) are losing ground in Wednesday’s premarket trading and are on track to open below the 200-day moving average after the company’s outlook for the current quarter and remainder of the year pointed to declines in both sales and profitability. The company, which designs and manufactures apparel for owned brands and sells and distributes its licensed brands, including Calvin Klein and Tommy Hilfiger, said that largely due to the staggered expiration of its Calvin Klein and Tommy Hilfiger licenses (both of which are returning to the parent company, PVH), third-quarter sales are expected to decline by 12% while net income is seen declining 24% at the midpoint of the new range, both of which are below the consensus estimates. For FY27, the loss of ~$460M due to the Calvin Klein and Tommy Hilfiger license expirations will leave the company with $2.71B in sales, down 8.4% year-over-year but in line with expectations. Net income is also expected to fall from a year ago to a range of $2.20 and $2.30 per share, with the midpoint above $2.22 estimates. For the reported quarter, results were mixed as the company’s sales were down ~10%, but profitability improved slightly thanks to price increases and a greater mix of higher-margin owned brands. This was reflected in a 440 basis point increase in G-III’s ( GIII ) gross margin to 45.2%.