Better sales helped G-III Apparel Group Ltd. narrow first-quarter losses, and chairman and chief executive officer Morris Goldfarb said the company would push for more market share, possibly through another acquisition.
The firm, which markets outerwear, dresses and sportswear, narrowed losses for the quarter ended April 30 to $1.4 million, or 7 cents a share, from $6.8 million, or 41 cents a year ago. Sales for the three months ended April 30 grew 43.4 percent to $154.3 million from $107.6 million. G-III outperformed Wall Street’s projections for both the top and the bottom line, as analysts had the firm pegged for losses of 19 cents a share on sales of $134.8 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?"