NEW YORK — G-III Apparel Group Ltd. reported gains in third-quarter profits, and said it is growing in part through door expansion and that it intends to grow through acquisitions.
For the three months ended Oct. 31, net income attributable to G-III rose 10.9 percent to $48.3 million, or $2.37 a diluted share, from $43.6 million, or $2.16, last year. The quarter’s earnings per share included 6 cents of expenses in connection with its acquisition of Vilebrequin, which the firm revealed in August in a transaction valued at $106 million. Net sales rose 6.6 percent to $543.5 million from $510 million.
Morris Goldfarb, chairman and chief executive officer, said, “Even though the hurricane in New York caused an interruption of shipping during our peak days this quarter, we were still able to exceed our earnings targets as a result of realizing higher gross margins. We remain confident in our ability to achieve our forecasts for the year.”
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive
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