G-III Apparel Analysts Slash Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
G-III Apparel Group Ltd (NASDAQ:GIII) reported mixed Q4 FY24 results with a sales decline of 10.5% year-on-year to $764.78 million, missing estimates, but an adjusted EPS of 76 cents beating expectations. The company sees FY25 sales of $3.20 billion and adjusted EPS of $3.50 - $3.60, below consensus estimates. Shares fell 12.1% following the announcement. Telsey Advisory Group and Wells Fargo adjusted their price targets on G-III Apparel.
March 15, 2024 | 12:59 pm
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G-III Apparel reported mixed Q4 results with a notable sales decline but an EPS beat. The FY25 outlook is below consensus estimates, leading to a 12.1% drop in shares. Analysts adjusted price targets accordingly.
The mixed Q4 results, coupled with a disappointing FY25 outlook, directly impact investor sentiment and stock price. The significant share price drop reflects immediate market reaction. Analysts' adjustments in price targets further validate the negative short-term outlook for GIII.
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IMPORTANCE 90
RELEVANCE 100