Fashion conglomerate G-III (NASDAQ: GIII) will be reporting earnings this Tuesday before market hours. Here’s what you need to know.
G-III beat analysts’ revenue expectations by 7.4% last quarter, reporting revenues of $613.3 million, down 4.9% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and revenue guidance for next quarter missing analysts’ expectations significantly.
Is G-III a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting G-III’s revenue to decline 6.9% year on year to $1.01 billion, a reversal from the 1.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.61 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. G-III has missed Wall Street’s revenue estimates five times over the last two years.
Looking at G-III’s peers in the apparel and accessories segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Figs delivered year-on-year revenue growth of 8.2%, beating analysts’ expectations by 6.4%, and ThredUp reported revenues up 33.6%, topping estimates by 5.9%. Figs traded up 13.7% following the results while ThredUp was down 7.5%.
Read our full analysis of Figs’s results here and ThredUp’s results here.
There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 3.4% on average over the last month. G-III is up 6.9% during the same time and is heading into earnings with an average analyst price target of $30.75 (compared to the current share price of $30.47).
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