G-III Apparel Group, Ltd. ( GIII Quick Quote GIII - Free Report) posted sturdy third-quarter fiscal 2022 results with both the top and the bottom line beating the Zacks Consensus Estimate and growing year over year. The quarter marked the sixth straight earnings beat for GIII. Results also exceeded management’s expectations. Results gained from sturdy demand for products. During the fiscal third quarter, G-III Apparel experienced strength in the outerwear business. Also, the top categories, including comfort casual product, athleisure and casual sportswear are performing well. Jeans across its power brands beat expectations and have been a major contributor to the overall results. Moreover, DKNY and Karl Lagerfeld Paris footwear business performed outstandingly with net sales nearly 50% higher than the pre-pandemic levels. Handbags for DKNY, Calvin Klein and Karl Lagerfeld Paris are also witnessing strength. Over the past six months, shares of this presently Zacks Rank #3 (Hold) player have increased 25.1%, outperforming the industry’s 16.9% growth. Q3 in Detail G-III Apparel delivered earnings per share of $2.16, beating the Zacks Consensus Estimate of $1.79. Also, the reported figure surged 67.4% from $1.29 a share delivered in the year-ago quarter. The bottom line outpaced the management’s guided range of $1.65-$1.75 per share for the quarter. We note that G-III Apparel completed the restructuring of its retail segment during the last fiscal year and shuttered the Wilsons Leather and G.H. Bass stores. The prior-year quarter’s results included net losses of $12 million or 25 cents per share from the Wilsons and G.H. Bass store operations. Net sales jumped 22.8% year over year to $1,015.4 million and came above the Zacks Consensus Estimate of $1,011 million. The top-line outperformance can be attributed to sales growth at the Wholesale unit, offset by soft sales at the Retail division. G-III Apparel’s digital business has been robust for a while now. Compared to two years ago, sales on its partner sites rose more than 45% and above 60% on its sites. In China, digital sales were stronger than store sales, while Vilebrequin's digital sales also increased. Plus, G-III Apparel continues to smoothly progress with improvements in its digital platforms for DKNY and Karl Lagerfeld Paris. A Sneak Peek Into Margins Gross profit increased 16.7% year over year to $347.5 million. However, gross margin of 34.2% contracted 180 basis points (bps) from the prior-year period’s reading. The year-ago period's gross margins included gains from the pandemic-related adjustments. SG&A expenses inched up 2.7% year over year to $182.4 million, mainly due to higher compensation expenses with respect to bonus accruals. G-III Apparel reported an operating income of $158.1 million, up 43.6% from the year-ago quarter’s number. Segmental Performance Net sales at the Wholesale segment were $1.01 billion, up from 783 million recorded in the year-earlier quarter. Also, the segment’s gross margin declined nearly 250 bps from the year-ago quarter’s level to 33%. Net sales at the Retail segment totaled $26 million, down from $58 million in the prior-year quarter due to the restructuring of its retail segment. Nonetheless, the segment’s gross margin grew sharply to 49.8% from 33.9% registered in the year-earlier quarter. Financial Details G-III Apparel ended the fiscal second quarter with cash and cash equivalents of $279.6 million and long-term debt of $517.5 million. Total stockholders’ equity was $1,486.2 million. Inventories declined 2.8% to $449 million at the end of the reported quarter. At the quarter-end, it had cash and availability under its credit agreement of more than $900 million. Outlook Given sturdy demand across G-III Apparel’s brands, GIII is positioned well for the holiday period. Management raised the view for fiscal 2022, ending Jan 31, 2022. This guidance is based on the anticipated impact of the supply-chain conditions with expected higher shipping costs and delays in the receipt of goods. GIII anticipates higher freight costs for the balance of the ongoing fiscal year, which will likely impact the gross margins in the second half. For fiscal 2022, G-III Apparel projects net sales of $2.77 billion, up from the prior view of $2.70 billion. It forecasts net income between $180 million and $190 million compared with $155-$165 million estimated earlier. Management envisioned earnings per share of $3.65-$3.75, higher than $3.10-$3.20 guided previously. In fiscal 2021, GIII reported sales worth $2.06 billion and a net income of $23.5 million or 48 cents per share. The Zacks Consensus Estimate for sales and earnings is currently pegged at $2.67 billion and $3.25, respectively, for fiscal 2022. Here's How Other Stocks Fared Here are the earnings highlights of some companies from the broader Consumer Discretionary space. Steven Madden ( SHOO Quick Quote SHOO - Free Report) posted sturdy results for third-quarter 2021. Both the top and the bottom line improved year over year, thanks to solid gains from SHOO’s e-commerce business and strategic initiatives. Steven Madden also raised guidance for 2021 despite the global supply-chain disruption being a major headwind. For 2021, SHOO projects revenue growth of 50-52% from the fiscal 2020 reading, up from the prior anticipation of a 43-47% increase. This currently Zacks Rank #2 (Buy) player’s shares have rallied 23.6% in the past six months. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Crocs ( CROX Quick Quote CROX - Free Report) continued with its stellar performance in third-quarter fiscal 2021. Both the top and the bottom line not only surpassed the Zacks Consensus Estimate but also improved year over year. Sturdy consumer demand and brand strength contributed to the upbeat performance. Crocs’ focus on product innovation and marketing, digital capabilities and tapping of growth opportunities in Asia bode well. Better-than-expected results prompted CROX to raise the fiscal 2021 view. The presently Zacks Rank #3 Crocs’ shares have gained 50.2% in the past six months. Carter's ( CRI Quick Quote CRI - Free Report) reported third-quarter 2021 results wherein the bottom line beat the Zacks Consensus Estimate while the top line missed the same due to supply-chain headwinds. Nonetheless, price realization, productivity improvements and cost management helped mitigate higher transportation expenses and enhance profit margins. Driven by brand strength and robust marketing strategies, Carter's lifted the 2021 view. CRI anticipates yearly sales of $3.45 billion and expects the metric to be 98% of the pre-pandemic level. The currently Zacks Rank #3 stock has gained 6.9% in the past six months.