Why G-III Apparel Shares Are Plunging Today
Portfolio Pulse from Shivani Kumaresan
G-III Apparel Group Ltd (NASDAQ:GIII) shares dropped after reporting a Q4 FY24 sales decline of 10.5% Y/Y to $764.78 million, missing estimates. Despite a slight gross profit increase and beating EPS estimates, the company's FY25 outlook disappointed, with expected sales and adjusted EPS below consensus estimates, leading to a 15.9% decrease in share price.
March 14, 2024 | 1:57 pm
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G-III Apparel's Q4 FY24 report showed a significant sales decline and a disappointing FY25 outlook, causing a 15.9% drop in share price.
G-III Apparel's significant sales decline in Q4 FY24 and the disappointing outlook for FY25, particularly the lower-than-expected adjusted EPS and sales forecasts, have likely led to a loss of investor confidence, resulting in a sharp decline in share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100