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Shares of the textile apparel retailer G-III Apparel Group, Ltd. (GIII - Snapshot Report) have risen roughly 95% year to date and closed at $65.85 on Dec 16, 2013. The bullish run of the stock has continued in the year and achieved enough momentum to continue traction in the next year as well. As a result, Zacks Investment Research upgraded the stock to a Zacks Rank #1 (Strong Buy) on Dec 6.

G-III Apparel has beaten the Zacks Consensus Estimate in five out of the past seven quarters. The stock has beaten the Zacks Expectation by an average of 54.3% while reporting in-line earnings for two quarters.

Moreover, G-III Apparel has been witnessing rising earnings estimates based on better-than-expected third-quarter fiscal 2014 results and an upbeat guidance for fiscal 2014.

G-III Apparel reported third-quarter results on Dec 5. Adjusted quarterly earnings came in at $2.88 per share, which was 10.3% higher than the Zacks Consensus Estimate of $2.61 and up 18.5% year over year. Total revenue climbed 23.0% year over year to $668.7 million and handily beat the Zacks Consensus Estimate of $621.0 million.

Impressive results were driven by robust performance of specialty retail operations and the wholesale business. Going forward, the company expects acquisition of G.H. Bass & Co. to further boost specialty retail operations.

Based on robust results, G-III Apparel raised its fiscal 2014 guidance.  The company now anticipates sales to be about $1.73 billion, as against the earlier projection of $1.61 billion. On the other hand, adjusted earnings per share are expected to be $3.50 to $3.60 for fiscal 2014.

The Zacks Consensus Estimate for fiscal 2014 rose 8.5% to $3.59 per share in the last 30 days. For fiscal 2015, the Zacks Consensus Estimate rose 5.5% to $4.24, over the same time frame.

Going ahead, we expect the company’s formidable brand portfolio and synergies from the acquisition of G.H. Bass & Co to drive sales.

Some better-ranked retail stocks that look promising include Hanesbrands Inc. (HBI - Analyst Report), Michael Kors Holdings Ltd (KORS - Analyst Report) and Tiffany & Co. (TIF - Analyst Report). While Hanesbrands carries a Zacks Rank #1 (Strong Buy), Michael Kors and Tiffany sport a Zacks Rank #2 (Buy).

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