G-III Apparel Group topped second-quarter profit expectations and did what many of its retail counterparts could not — raise expectations for the year.
The company’s second-quarter income jumped 164 percent to $3.6 million, or 17 cents a diluted share, from $1.4 million, or 7 cents, a year earlier. Earnings per share came in 7 cents better thanthe 10 cents analysts projected.
Sales for the three months ended July 31 increased 20.9 percent to $304.2 million from $251.4 million.
G-III produces and distributes outerwear, dresses, sportswear and other categories under a number of licensed brands, including Calvin Klein, Kenneth Cole, Tommy Hilfiger, Jones New York, and Levi’s. The company sells to major department stores and also has over 200 stores.
“We have a powerful opportunity to continue to diversify our business, further penetrate key categories and layer on promising new organic growth initiatives, such as our multi-category launch of the Ivanka Trump collection and the rollout of full-priced Wilsons stores, which is still in a test mode,” said Morris Goldfarb, chairman and chief executive officer. “Our most-recent acquisition, Vilebrequin, is performing well and provides us with a premier status brand in a new category.”
G-III now expects its earnings this year to range from $3.30 to $3.40, ahead of the $3.20 to $3.30. Shares of the company popped up 7.4 percent to $50.50 in early trading on Wall Street today.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia