Apparel maker G-III Apparel Group Ltd. reported on Monday that fourth-quarter earnings more than doubled, boosted by sales in outerwear and dresses.
For the three months ended Jan. 31, earnings reached $1.1 million, or 6 cents a diluted share, from $518,000, or 3 cents, in the same year-ago period. Results included charges related to the termination of the Sean John junior sportswear license and financing related to purchasing commitments by one of the company's vendors, as well as a onetime gain in conjunction with the closing of its Indonesian production facility. Sales grew 30.2 percent to $128.7 million from $98.8 million.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"