Net income was $1,033,000 against a loss of $847,000 for the period ended Apr.30. Revenues rose 18% too $272,615,000 from $229.449,000. Gross margin improved 390b.p. to 33.8%. GIII, which has a vast range of products and brands in its apparel portfolio including pro league licenses, said results were driven by strong sales in a broad range of categories and a double of categories and a double-digit comp in its retail segment.
With the results, the company raised its full-year outlook to total revenues of $1.57 billion and a net income range of $66.3-68.4 million versus prior guidance of $1.55 billion on the top line and an incone range of $64.3-66.4 million. In Q2, GIII is expecting net income of $1.1-2.1 million on revenue growth of 14% to approximately $287 million.
Written by Nicolas Yang
