Top Performer for Thurs: G-III Apparel (GIII)

We're going to stick with the Textile-Apparel industry for a second consecutive day and feature G-III Apparel Group, Ltd. (GIII - Snapshot Report). With a gain of approximately 6%, this clothing company is a top-performing Zacks #1 Rank company on Thursday.

Earnings estimates remain at heightened levels from 2 months ago thanks to a healthy fiscal second-quarter report, announced on Sep 3.

Today, volume is at 194,000 shares, above the daily average of around 113,000.

In total, there are 6 companies from Textile-Apparel in today's 219-stock Zacks #1 Rank List. Excluding GIII, the other 5 are Guess?, Inc. (GES - Analyst Report), Jones Apparel Group, Inc. (JNY - Snapshot Report), Maidenform Brands, Inc. (MFB - Snapshot Report), Perry Ellis International, Inc. (PERY - Snapshot Report) and Phillips-Van Heusen Corporation (PVH - Snapshot Report). (PERY was featured yesterday as a Zacks #1 Rank Top Performer.)

Earnings Estimates

The Zacks Consensus Estimate for this fiscal year, ending January 2010, is $1.06 per share. That result has advanced by 6% from $1 over the past 2 months.

During its fiscal second-quarter report, GIII announced that it expects earnings per share between 95 cents and $1.05 per share for this fiscal year. It also expects sales of about $770 million.

The Zacks Consensus Estimate for next fiscal year, ending January 2011, has risen 8.6% in 2 months to $1.26 per share from $1.16. Furthermore, this guidance suggests year-over-year profit growth of nearly 19%.

Fiscal Second Quarter

GIII lost 17 cents per share in its fiscal second-quarter, which was narrower than both the year-ago loss of 23 cents and the Zacks Consensus Estimate at a loss of 26 cents. In fact, the company enjoyed a positive surprise of more than 34%; marking a second straight quarter with a better-than-expected result.

Sales gained 19.8% to $135.9 million from $113.5 million. The company saw strong results from its dress and sportswear businesses, and believes it is positioned well for the fall season in outerwear, dresses, sportswear and suits.

"Our inventory is in good shape and we expect a good second half performance in our wholesale business," said Chairman/CEO Morris Goldfarb.

"Our licensed business, our company-owned brands and our private label programs are performing to expectations and we believe that our second half will once again demonstrate that we can produce good results even in a challenging environment," continued Mr. Goldfarb.

Read the full analyst report on GES

Read the full analyst report on PERY

Read the full analyst report on GIII

Read the full analyst report on JNY

Read the full analyst report on PVH

Read the full analyst report on MFB