G-III Apparel Group, Ltd. (NasdaqGS: GIII) today announced operating results for the fourth quarter and full fiscal 2020 year ended January 31, 2020.

Q4 2020 G-III Apparel Group Ltd Earnings Call

GIII Apparel Group Ltd. reported fourth-quarter net income of $25.3 million, or 52 cents per share, up from $24.1 million, or 48 cents per share, last year. Adjusted EPS of 75 cents beat the FactSet consensus for 67 cents. Sales of $754.6 million were down from $766.8 million, and below the FactSet consensus for $798.0 million. G-III, which has a portfolio including Calvin Klein, Tommy Hilfiger and Donna Karan, says it has closed all retail stores and offices due to the coronavirus pandemic. The company has about $800 million including cash-on-hand and credit availability. "We are focused on significantly reducing the number of stores we operate and remain committed to substantially reducing the losses from our retail operations as swiftly and efficiently as possible," said Chief Executive Morris Goldfarb, in a statement. The company did not give fiscal 2021 guidance. G-III stock has slumped more than 87% over the past year while the S&P 500 index [s:spx] has lost 15.3% for the period.

Bear of the Day: G-III Apparel Group (GIII)

G-III Apparel's (GIII) fourth-quarter fiscal 2020 performance is likely to have benefited from a robust Wholesale segment.

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Moody's Investors Service ("Moody's") today affirmed G-III Apparel Group, Ltd.'s ratings, including its Ba3 corporate family rating (CFR), Ba3-PD probability of default rating (PDR), and Ba3 senior secured term loan rating. Its speculative grade liquidity rating was downgraded to SGL-3 from SGL-2. The outlook change to negative reflects the risk that a prolonged downturn caused by the coronavirus (COVID-19) will pressure the company's profitability and credit metrics over the near-to-intermediate term.

G-III Apparel (GIII) delivered earnings and revenue surprises of 10.29% and -4.70%, respectively, for the quarter ended January 2020. Do the numbers hold clues to what lies ahead for the stock?

Shares of G-III Apparel Group (NASDAQ:GIII) rallied over 49% after the company reported Q4 results.Quarterly Results Earnings per share increased 36.36% year over year to $0.75, which beat the estimate of $0.67.Revenue of $754,617,000 lower by 1.59% from the same period last year, which missed the estimate of $787,090,000.Outlook Q1 EPS expected to be between $3.06 and $3.16.Q1 revenue expected between $3,200,000,000 and $3,200,000,000.Conference Call Details Date: Dec 04, 2019View more earnings on GIIITime: 08:03 AM ETWebcast URL: https://edge.media-server.com/mmc/p/ohzicybnPrice Action Company's 52-week high was at $43.98Company's 52-week low was at $2.96Price action over last quarter: down 76.55%Company Description G-III Apparel Group Ltd is a textile company. It makes a wide range of apparel, footwear, and accessories that it sells under its own brands, licensed brands, and private-label brands. G-III has a substantial portfolio for licensed and proprietary brands, anchored by five global power brands: DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger, and Karl Lagerfeld. The company has two reportable operations: Wholesale Operations and Retail Operations. The Wholesale operations segment includes sales of products under brands licensed by us from third parties, as well as sales of products under its own brands and private label brands. The retail operations segment consists primarily of Wilsons Leather, G.H. Bass, and DKNY retail stores. It derives most of its revenues from Wholesale operations.See more from Benzinga * Recap: Enerpac Tool Group Q2 Earnings * Energy Focus: Q4 Earnings Insights * Lazydays Holdings: Q4 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

G-III Apparel (GIII) posts robust fourth-quarter fiscal 2020 earnings on impressive brand strength and strategic efforts. It did not provide outlook for fiscal 2021 due to the coronavirus crisis.

G-III Apparel Group, Ltd. (NasdaqGS: GIII) today provided an update on actions the Company is taking in response to the COVID-19 outbreak to strengthen its financial flexibility.

G-III Apparel (GIII) cuts its retail business employees by above 80% while furloughs around 60% wholesale associates effective Apr 6. Also, it decides to cut down salary temporarily.

G-III Apparel Group, Ltd. (NasdaqGS: GIII) today announced that it is changing the format of its 2020 Annual Meeting of Stockholders (the "2020 Annual Meeting") from an in-person meeting to a virtual meeting due to public health concerns surrounding the COVID-19 outbreak and to prioritize the health and well-being of its employees, stockholders and other community members. The original date and time of the 2020 Annual Meeting, as well as the matters to be voted on at the 2020 Annual Meeting, remain unchanged.

G-III Apparel (GIII) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Avid Technology, G-III Apparel, Schlumberger, Baker Hughes and Halliburton highlighted as Zacks Bull and Bear of the Day

G-III Apparel Group, Ltd. (NASDAQ:GIII) announced today that it will release its fourth quarter and full fiscal year fiscal 2020 earnings before the market opens on Thursday, March 19, 2020. Management will host a conference call to discuss results at 8:30 a.m. ET that same day, followed by a question and answer session for the investment community.

Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today

NEW YORK, NY / ACCESSWIRE / March 19, 2020 / G-III Apparel Group Ltd. (NASDAQ:GIII) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on March 19, 2020 at ...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of G-III Apparel Group, Ltd. New York, May 06, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of G-III Apparel Group, Ltd. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

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