27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
G-III Apparel (NASDAQ: GIII), the women's apparel maker, reported Monday after the close that it earned a profit in its fiscal first quarter vs. a forecasted loss. The company also raised its guidance for second quarter earnings but the guidance still fell short of Wall St. forecasts as full-year guidance beat forecasts.
Data Breakdown
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For the fiscal first quarter, the company reported earnings per share of $0.05 vs. an expected loss of $0.05 per share. In the same period a year ago, the company reported a loss of $0.04 per share.
On the revenue side, sales rose 19 percent compared to a year ago to $272.6 million from $229.4 million.
Management Comments
Morris Goldfarb, Chairman and CEO of G-III Apparel, commented in the press release, saying: "Our increase in first quarter revenue was driven by a variety of businesses and by the inclusion of sales from Vilebrequin which was acquired in August 2012. We saw a strong performance across a broad range of categories, particularly with respect to a number of our Calvin Klein products, and from our growing retail operations which produced double-digit comparable store sales increases in the quarter."
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"Current booking activity and sell-through rates, as well as positive feedback from our retail customers on our upcoming merchandise programs, give us increased confidence in our full year outlook. As the year progresses, we expect to continue to increase penetration with respect to several of our important categories, including women's sportswear, dresses, suits and handbags."
He concluded, "We also are looking forward to some important brand expansions, including the launches of our Ivanka Trump collection, Calvin Klein men's and women's swimwear and a new line of women's status swimwear under our Vilebrequin brand. Our strategic and diversified approach to growth encompasses multiple brands, both genders and several tiers of retail distribution."
Guidance
The company raised its forecast for the second quarter to $0.06-$0.10 earnings per share vs. $0.07 a year ago. Importantly, the year ago comparable figure included a $0.06 per share loss associated with an acquisition. For the full fiscal year 2014, the company expects to earn between $3.20 and $3.30 per share vs. the $3.20 forecast.
For the second quarter, the company also forecasts that revenue will be approximately $287.0 million vs. $251.5 million in the comparable last year. For the full fiscal year 2014 ending January 31, 2014, G-III expects revenue to total about $1.57 billion.
Stock Reaction
G-III shares traded flat in aftermarket trading after gaining 1.5 percent during trading Monday.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.