G-III Apparel Reports Mixed Q3 Earnings, Stock Falls

G-III Apparel Group GIII reported third-quarter earnings of $1.99 per share on Wednesday, which beat the analyst consensus estimate of $1.94 by 2.58%. This is a 5.85% increase over earnings of $1.88 per share from the same period last year.

The company reported quarterly sales of $1.13 billion, which missed the analyst consensus estimate of $1.17 billion by 3.42%. This is a 5.31% increase over sales of $1.073 billion the same period last year.

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The company sees fiscal year 2020 EPS $3.06-$3.16 versus the $3.16 estimate and sales at about $3.20 billion versus the $3.28 billion.

G-III Apparel Group shares were trading down 5.6% at $26.89 in Wednesday’s pre-market session.