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G-III Apparel (GIII) Buoyant on Digital & Brand Strength
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G-III Apparel Group, Ltd. (GIII - Free Report) looks appealing on the back of its robust digital gains and strength in the global power brands. Management is focused on updating websites to offer a seamless customer experience and continuously strengthens GIII’s global power brands through innovations and licensing agreements. GIII is well poised for growth via its diversified portfolio, backed by DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld Paris.
For fiscal 2023, the Zacks Consensus Estimate for G-III Apparel’s sales and earnings per share (EPS) is currently pegged at $3.12 billion and $4.47 each. These estimates suggest growth of 12.9% and 10.4%, respectively, from the year-ago period’s corresponding figures. This is indicative of analysts’ optimism on the stock. A VGM Score of B for this currently Zacks Rank #2 (Buy) stock further speaks volumes for its attractiveness.
This apparel and accessories designer’s shares have increased 4.1% in the past month against its industry’s 8.3% fall. On Jun 7, G-III Apparel posted sturdy first-quarter fiscal 2023 results, wherein both the top and the bottom line beat the Zacks Consensus Estimate and grew year over year.
Let’s Delve Deep
GIII Apparel is quite focused on boosting its omni-channel capabilities of its own DKNY and Karl Lagerfeld Paris retail operations. GIII’s retail partners have been witnessing sharp growth for a while in the sales of its power brands, namely DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld Paris. Management also announced the acquisition of Karl Lagerfeld, marking an exciting milestone and executing a strategic priority. GIII has been maximizing its omni-channel opportunities and leveraging data for a while.
During first-quarter fiscal 2023, G-III Apparel saw a rebound in traffic in spite of the persistent challenges in tourism. Same store sales increased 30% for DKNY and 50% for Karl Lagerfeld. In fiscal 2023, management intends to add seven Karl Lagerfeld Paris locations and shutter the same number of underperforming DKNY stores.
Management is focused on driving power brands across categories and expanding the portfolio through ownership of brands and licensing. G-III Apparel undertakes several strategies, including acquisitions and licensing of well-known brands to expand its product portfolio. In addition, International business is a key driver. Apart from these, GIII-Apparel remains on track with the process of bolstering brands across channels with launches, improved marketing strategies and a broader consumer reach.
During the fiscal first quarter, G-III Apparel experienced strength in its outerwear business. The cold weather drove broad-based demand for its lighter seasonally functional collections. Management is focused on driving the casual divisions, such as jeans, athleisure, casual sportswear and footwear. These businesses continue to perform impressively with sales slightly up in the fiscal first quarter from the last fiscal year’s quarterly tally.
Strength in dressier footwear and fashion sneakers for DKNY and Karl Lagerfeld Paris also aided performance. In addition, the handbag business for Calvin Klein, DKNY and Karl Lagerfeld Paris performed well and the recently launched Karl Lagerfeld handbags gained a substantial scale and doubled in distribution from last-year levels. GIII had also successfully launched the Karl Lagerfeld Paris women's brand across Macy's.
What’s More?
Management remains optimistic about fiscal 2023. For the full fiscal, G-III Apparel expects net sales of $3.24 billion and a net income of $205-$215 million or $4.23-$4.33 per share. Net sales of $2.77 billion and a net income of $200.6 million or $4.05 per share were recorded last year. Adjusted EBITDA for the full fiscal is forecast in the band of $360-$370 million, indicating growth from $350.2 million reported in fiscal 2022.
For the fiscal second quarter, GIII expects net sales of $600 million, higher than $483.1 million recorded in the same period last year. Net income for the same time frame is envisioned in the range of $20-$25 million or 42-52 cents per share. This indicates growth from the net income of $19.2 million or 39 cents per share in the year-ago period.
All in all, G-III Apparel seems well positioned in the future, thanks to its solid brand strength coupled with sturdy digital efforts and other strategic efforts.
Eye These Solid Picks Too
Rocky Brands (RCKY - Free Report) , a key designer and marketer of premium quality footwear and apparel, currently sports a Zacks Rank #1 (Strong Buy). RCKY delivered an earnings surprise of 17% in the last reported quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Rocky Brands’ 2022 sales and EPS suggests growth of 23.1% and 22.8%, respectively, from the year-ago corresponding figures.
Delta Apparel (DLA - Free Report) is a manufacturer of activewear and lifestyle apparel products. DLA flaunts a Zacks Rank of 1 at present.
The Zacks Consensus Estimate for Delta Apparel’s current financial-year sales and EPS suggests growth of 14.6% and 45.8%, respectively, from the year-ago corresponding figures. DLA has a trailing four-quarter earnings surprise of 41.1%, on average.
Footwear dealer Caleres (CAL - Free Report) flaunts a Zacks Rank of 1 at present. CAL has a trailing four-quarter earnings surprise of 62.9%, on average.
The Zacks Consensus Estimate for Caleres’ current financial-year sales and EPS suggests growth of 5.2% and 1.8%, respectively, from the year-ago corresponding figures.
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G-III Apparel (GIII) Buoyant on Digital & Brand Strength
G-III Apparel Group, Ltd. (GIII - Free Report) looks appealing on the back of its robust digital gains and strength in the global power brands. Management is focused on updating websites to offer a seamless customer experience and continuously strengthens GIII’s global power brands through innovations and licensing agreements. GIII is well poised for growth via its diversified portfolio, backed by DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld Paris.
For fiscal 2023, the Zacks Consensus Estimate for G-III Apparel’s sales and earnings per share (EPS) is currently pegged at $3.12 billion and $4.47 each. These estimates suggest growth of 12.9% and 10.4%, respectively, from the year-ago period’s corresponding figures. This is indicative of analysts’ optimism on the stock. A VGM Score of B for this currently Zacks Rank #2 (Buy) stock further speaks volumes for its attractiveness.
This apparel and accessories designer’s shares have increased 4.1% in the past month against its industry’s 8.3% fall. On Jun 7, G-III Apparel posted sturdy first-quarter fiscal 2023 results, wherein both the top and the bottom line beat the Zacks Consensus Estimate and grew year over year.
Let’s Delve Deep
GIII Apparel is quite focused on boosting its omni-channel capabilities of its own DKNY and Karl Lagerfeld Paris retail operations. GIII’s retail partners have been witnessing sharp growth for a while in the sales of its power brands, namely DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld Paris. Management also announced the acquisition of Karl Lagerfeld, marking an exciting milestone and executing a strategic priority. GIII has been maximizing its omni-channel opportunities and leveraging data for a while.
During first-quarter fiscal 2023, G-III Apparel saw a rebound in traffic in spite of the persistent challenges in tourism. Same store sales increased 30% for DKNY and 50% for Karl Lagerfeld. In fiscal 2023, management intends to add seven Karl Lagerfeld Paris locations and shutter the same number of underperforming DKNY stores.
Management is focused on driving power brands across categories and expanding the portfolio through ownership of brands and licensing. G-III Apparel undertakes several strategies, including acquisitions and licensing of well-known brands to expand its product portfolio. In addition, International business is a key driver. Apart from these, GIII-Apparel remains on track with the process of bolstering brands across channels with launches, improved marketing strategies and a broader consumer reach.
During the fiscal first quarter, G-III Apparel experienced strength in its outerwear business. The cold weather drove broad-based demand for its lighter seasonally functional collections. Management is focused on driving the casual divisions, such as jeans, athleisure, casual sportswear and footwear. These businesses continue to perform impressively with sales slightly up in the fiscal first quarter from the last fiscal year’s quarterly tally.
Strength in dressier footwear and fashion sneakers for DKNY and Karl Lagerfeld Paris also aided performance. In addition, the handbag business for Calvin Klein, DKNY and Karl Lagerfeld Paris performed well and the recently launched Karl Lagerfeld handbags gained a substantial scale and doubled in distribution from last-year levels. GIII had also successfully launched the Karl Lagerfeld Paris women's brand across Macy's.
What’s More?
Management remains optimistic about fiscal 2023. For the full fiscal, G-III Apparel expects net sales of $3.24 billion and a net income of $205-$215 million or $4.23-$4.33 per share. Net sales of $2.77 billion and a net income of $200.6 million or $4.05 per share were recorded last year. Adjusted EBITDA for the full fiscal is forecast in the band of $360-$370 million, indicating growth from $350.2 million reported in fiscal 2022.
For the fiscal second quarter, GIII expects net sales of $600 million, higher than $483.1 million recorded in the same period last year. Net income for the same time frame is envisioned in the range of $20-$25 million or 42-52 cents per share. This indicates growth from the net income of $19.2 million or 39 cents per share in the year-ago period.
All in all, G-III Apparel seems well positioned in the future, thanks to its solid brand strength coupled with sturdy digital efforts and other strategic efforts.
Eye These Solid Picks Too
Rocky Brands (RCKY - Free Report) , a key designer and marketer of premium quality footwear and apparel, currently sports a Zacks Rank #1 (Strong Buy). RCKY delivered an earnings surprise of 17% in the last reported quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Rocky Brands’ 2022 sales and EPS suggests growth of 23.1% and 22.8%, respectively, from the year-ago corresponding figures.
Delta Apparel (DLA - Free Report) is a manufacturer of activewear and lifestyle apparel products. DLA flaunts a Zacks Rank of 1 at present.
The Zacks Consensus Estimate for Delta Apparel’s current financial-year sales and EPS suggests growth of 14.6% and 45.8%, respectively, from the year-ago corresponding figures. DLA has a trailing four-quarter earnings surprise of 41.1%, on average.
Footwear dealer Caleres (CAL - Free Report) flaunts a Zacks Rank of 1 at present. CAL has a trailing four-quarter earnings surprise of 62.9%, on average.
The Zacks Consensus Estimate for Caleres’ current financial-year sales and EPS suggests growth of 5.2% and 1.8%, respectively, from the year-ago corresponding figures.