Shares of G-III Apparel Group Ltd. rose 13.3 percent earlier this week after the company posted double-digit percent gains in net income and sales for the third quarter.
The company said net income for the three months ended Oct. 31 rose 23.4 percent to $59.6 million, or $2.85 a diluted share, from $48.3 million, or $2.37, a year ago. Excluding one-time charges in both quarters, earnings were $2.88 a share versus $2.43 last year. Wall Street’s consensus estimate was $2.61. Net sales rose 23 percent to $668.7 million, compared with $543.5 million a year ago.
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