UPDATE: G-III Apparel Posts Upbeat Q4 Earnings, Issues Weak Outlook
G-III Apparel (NASDAQ: GIII) reported better-than-expected fourth-quarter earnings and issued a weak forecast.
G-III Apparel posted its quarterly earnings of $0.62 per share, beating analysts' estimates of $0.49 per share. Its revenue came in at $472.8 million, versus estimates of $489.93 million.
G-III Apparel expects Q1 loss of $0.10 to $0.20 per share, versus analysts' expectations for a gain of $0.04 per share.
G-III Apparel estimates FY15 earnings of $3.95 to $4.10 per share on revenue of $2.05 billion. However, analysts expected earnings of $4.30 per share on revenue of $2.1 billion.
G-III Apparel shares fell 5.39% to $70.45 at 10:40 a.m. ET.
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