G-III Apparel Group Ltd · Q4 2020 earnings

Briefing

Reported a decrease in net sales but an increase in net income per diluted share and non-GAAP net income per diluted share for the fourth quarter.

G-III Apparel Group reported a decrease in net sales for the fourth quarter, but net income per diluted share increased to $0.52 from $0.48 last year, and non-GAAP net income per diluted share increased to $0.75 from $0.55 last year. The company had approximately $800 million of cash and availability under bank facilities at fiscal year end.

• Net sales decreased by 1.6% to $754.6 million from $766.8 million in the fourth quarter last year.
• GAAP net income increased to $25.3 million, or $0.52 per diluted share, compared to $24.1 million, or $0.48 per diluted share, in the fourth quarter last year.
• Non-GAAP net income per diluted share was $0.75 compared to $0.55 per share in the fourth quarter last year.
• The company had approximately $800 million of cash and availability under its bank facilities at fiscal year end.

Headline financials

Revenue & EPS history

The company is closely monitoring the developments associated with the coronavirus outbreak and its impact on sales, results of operations, and supply chain and is not currently providing any guidance and expects to provide additional information when it releases results for its first quarter of fiscal 2021.