G-III Apparel Group, LTD. (NASDAQ:GIII) reported third-quarter adjusted EPS of $2.59, exceeding analyst expectations of $2.27 but falling from $2.78 in the prior year.

Quarterly revenues of $1.086, up 1.8% year-over-year, was almost in line with the consensus of $1.098 billion.

Morris Goldfarb, G-III's chairman and chief executive officer, said, "I am very pleased with our strong third quarter results, with earnings per diluted share exceeding our expectations, driven by over 30% organic growth of our key owned brands DKNY, Karl Lagerfeld, Donna Karan, and Vilebrequin.

Also Read: US Stocks Likely To Open Lower As Traders Await Slew Of Data: US-Listed Chinese Stocks In Focus Following Stimulus Pledge

“Our teams continue to demonstrate strong execution despite a challenging consumer environment, unseasonable weather and supply chain disruptions. As we have progressed into the fourth quarter, we have experienced strengthening sell-throughs across our brands, and our inventories are well-positioned to support demand for the remaining holiday and early Spring season," Goldfarb added.

Inventories decreased 10% to $532.5 million at the end of this year's third quarter, compared to $591.5 million in the third quarter of last year.

Outlook: G-III Apparel updated its fiscal year 2025 guidance, with net sales of $3.15 billion compared to prior guidance of $3.20 billion and the consensus of $3.20 billion

The company expects adjusted EPS of $4.10-$4.20, up from prior guidance of $3.95-$4.05 compared to the consensus of $4.02.

Adjusted EBITDA for fiscal 2025 is expected to be between $309.0 million and $314.0 million (prior $305.0 million and $310.0 million).

Price Action: GIII shares were down 1.8% to $31.01 at last check Tuesday.

Read Next:

• Designer Brands Q3 Earnings Miss As Warm Weather And Economic Woes Hurt Sales, Outlook Slashed

Photo: Shutterstock