G-III Apparel Group (NASDAQ:GIII) posted better-than-expected earnings for the second quarter but slashed its full-year outlook, warning of weaker earnings and sales despite topping second-quarter profit and revenue estimates.
The company reported second-quarter adjusted earnings per share of 25 cents, beating the analyst consensus estimate of 9 cents. Quarterly sales of $613.266 million (down 5% year over year) outpaced the Street view of $571.312 million.
G-III Apparel Group cut its fiscal 2026 adjusted EPS outlook to $2.55–$2.75, down from $4.15–$4.25 and below the $2.90 estimate. The company also reduced its fiscal 2026 sales forecast to $3.02 billion from $3.14 billion. The revised sales guidance comes in slightly under the $3.131 billion Street consensus.
G-III Apparel Group projected third-quarter adjusted EPS in the range of $1.43–$1.63, missing the $1.88 analyst estimate. The company expects sales of $1.01 billion, below the $1.10 billion consensus.
Morris Goldfarb, G-III's Chairman and Chief Executive Officer, said, "Looking ahead, we have updated fiscal 2026 guidance to reflect the current macro environment, a more cautious outlook from our retail partners, as well as the impact of tariffs on our top and bottom lines."
G-III Apparel shares dipped 5.8% to trade at $26.02 on Friday.
These analysts made changes to their price targets on G-III Apparel following earnings announcement.
- Keybanc analyst Ashley Owens maintained G-III Apparel with an Overweight rating and raised the price target from $30 to $33.
- Telsey Advisory Group analyst Dana Telsey maintained the stock with a Market Perform and raised the price target from $27 to $30.
- Barclays analyst Paul Kearney maintained G-III Apparel Group with an Underweight rating and raised the price target from $18 to $21.
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