Bridging The Gap To Profitability: Analyst Outlines Challenges And Opportunities For GIII Apparel In FY24
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on G-III Apparel Group (NASDAQ:GIII) with a price target of $14. GIII is set to report Q1 earnings on June 6. The analyst expects an EPS of $(0.10) and total sales to decline 18.7% to $560 million. GIII's conservative FY24 outlook is seen as appropriate due to ongoing inflationary pressures and exposure to the North American wholesale channel.
May 31, 2023 | 6:08 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
G-III Apparel Group's Q1 earnings are expected to show an EPS of $(0.10) and sales decline of 18.7% to $560 million. The company's conservative FY24 outlook is seen as appropriate due to ongoing inflationary pressures and exposure to the North American wholesale channel.
The analyst's Market Perform rating and price target of $14 indicate a neutral outlook for GIII's stock price in the short term. The expected Q1 earnings results, with an EPS of $(0.10) and sales decline of 18.7% to $560 million, reflect the ongoing challenges the company faces due to inflationary pressures and exposure to the North American wholesale channel. However, GIII's efforts to increase its higher margin owned-brand exposure and grow DTC penetration may provide some support to the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100