Fashion conglomerate G-III (NASDAQ:GIII) will be announcing earnings results tomorrow before market open. Here’s what to look for.
G-III beat analysts’ revenue expectations by 4% last quarter, reporting revenues of $839.5 million, up 9.8% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ adjusted operating income estimates but a miss of analysts’ Wholesale revenue estimates.
Is G-III a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting G-III’s revenue to decline 4.8% year on year to $580.3 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.13 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.
Looking at G-III’s peers in the apparel and accessories segment, some have already reported their Q1 results, giving us a hint as to what we can expect. ThredUp delivered year-on-year revenue growth of 10.5%, beating analysts’ expectations by 4.4%, and Figs reported revenues up 4.7%, topping estimates by 4.8%. ThredUp traded up 48.1% following the results while Figs was down 1.7%.
Read our full analysis of ThredUp’s results here and Figs’s results here.
There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 3.8% on average over the last month. G-III is up 9.1% during the same time and is heading into earnings with an average analyst price target of $30 (compared to the current share price of $28.40).
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