G-III Apparel (GIII) Stock Gains on Earnings Beat in Q4 - Yahoo Finance |
- G-III Apparel (GIII) Stock Gains on Earnings Beat in Q4 - Yahoo Finance
- Lowell sports apparel maker now making masks to help in coronavirus crisis - MLive.com
- Adidas 'Ready' Performance Apparel Capsule Protects Against Elements - Sourcing Journal
- Apparel manufacturers seek material for hospital gowns and masks - Portland Business Journal
| G-III Apparel (GIII) Stock Gains on Earnings Beat in Q4 - Yahoo Finance Posted: 20 Mar 2020 07:38 AM PDT Shares of G-III Apparel Group, Ltd. GIII surged 69.1% during the trading session on Mar 19, following impressive fourth-quarter fiscal 2020 earnings results. Strength in the Calvin Klein, Tommy Hilfiger and DKNY brands has been a major boost. Moreover, the company's e-commerce business is performing well, with DKNY and Karl Lagerfeld recording double-digit sales growth. Moving along, management is on track with the restructuring of retail operations, which will bring down the number of stores and consequently cut losses from underperforming locations. G-III Apparel expects to continue leveraging strength in its global power brands — DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld — by enhancing and developing new designs. However, management informed that it has closed retail stores and corporate offices, and has been working remotely in view of the coronavirus outbreak. Further, it informed that it has been monitoring developments of the pandemic and its impact on sales, operations and supply chain. Consequently, G-III Apparel has not provided any outlook for fiscal 2021 as of now. Furthermore, the company expects minimal delays in production and transit times, depending on the current updates for factory operations in China and other affected areas. Sales from the retail partners and the company's retail stores are also facing the brunt. Q4 in Detail Adjusted earnings improved 36.4% year over year to 75 cents per share and surpassed the Zacks Consensus Estimate of 68 cents. G-III Apparel Group, LTD. Price, Consensus and EPS Surprise
 G-III Apparel Group, LTD. Price, Consensus and EPS Surprise G-III Apparel Group, LTD. price-consensus-eps-surprise-chart | G-III Apparel Group, LTD. Quote Net sales fell 1.6% year over year to $754.6 million. Moreover, the top line missed the Zacks Consensus Estimate of $792 million, marking the sixth straight quarter of a sales miss. Sales were mainly hurt by warm weather conditions during the holiday season and in January. This weighed on sales of winter apparel, comprising outerwear. Also, decline in sales at the wholesale and retail divisions impacted the overall top line. Moreover, gross profit declined 3% year over year to $251.1 million. Meanwhile, gross margin of 33.3% contracted 50 basis points (bps), mainly attributable to the lower penetration of the retail segment, partly offset by growth in wholesale unit. However, SG&A expenses contracted 7.2% year over year to $187.3 million. Further, operating profit plunged 27.3% to $32.3 million in the fiscal fourth quarter, while operating margin contracted 150 bps to 4.3%. Segmental Performance Net sales for the Wholesale segment were $635 million, down roughly 1% year over year, mainly hurt by brands in the winter apparel categories. The decline was somewhat offset by growth in the Tommy Hilfiger and DKNY brands. Net sales at the Retail segment totaled $131 million, down nearly 16% from the prior-year quarter's reported figure. The segment witnessed sales declines across Wilsons and G.H. Bass, somewhat offset by growth in DKNY. Notably, same-store sales declined nearly 6% at Wilsons and 10% at G.H. Bass, while the metric rose 3% at DKNY stores. A decline in about 26 stores operated by the company also built pressure on the segment's performance. Other Financial Details G-III Apparel ended fourth-quarter fiscal 2020 with cash and cash equivalents of $197.4 million and long-term debt of $397.5 million. Total stockholders' equity was $1,290.7 million. It spent roughly $38 million as capital expenditures. At fiscal 2020-end, this Zacks Rank #3 (Hold) company had roughly $600 million under its $650-million revolving credit facility. 3 Better-Ranked Stocks in the Same Space Cimpress N.V. CMPR has an average positive earnings surprise of 41.4% for the trailing four quarters. Also, it sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Deckers Outdoor Corporation DECK, with a Zacks Rank #2 (Buy), has a long-term earnings per share growth rate of 12.4%. Netflix, Inc. NFLX has a long-term EPS growth rate of 30% and a Zacks Rank of 2. Today's Best Stocks from Zacks Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%. This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year. See their latest picks free >>
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| Lowell sports apparel maker now making masks to help in coronavirus crisis - MLive.com Posted: 20 Mar 2020 09:09 AM PDT  LOWELL, MI -- When the coronavirus pandemic hit full force in recent days, orders began to tank for a Lowell sportswear maker. Sporting events and seasons were being canceled and buying sports apparel was no longer on the minds of usual customers. Then one customer suggested that it would be great if Addix, the Lowell company, could make face masks that might help people during the pandemic. "It was one of those head-smacking moments," Addix CEO Steve Dean said. The staff could, in fact, make masks with the existing equipment and now are doing just that. The masks are not N95 respirators, which can block 95 percent of small airborne particles, and Addix makes no claim that the perform as such. They are made of a micro-polyester dry wicking material. Michigan confirmed coronavirus cases jump to 334 with increase of private testing Still, they could provide some benefit and, in fact, the Centers of Disease Control recently updated guidelines for health care workers dealing with medical mask shortages. CDC officials suggested that health care workers might consider using homemade masks as a last resort in caring for COVID-19 patients. "We see it as a last line of defense, another barrier," Dean said. Dean is trying to get the masks certified through the state Department of Health and Human Services, but has not heard back from state officials. The company launched the face mask line on Tuesday, March 17 and has since made thousands of them. Orders are coming in. Dean said he's hopeful the mask production will allow him to bring some or all of his workers back that recently were laid off because of the downturn in apparel orders. About 25 percent of the company's 48-person workforce were let go. The masks can be customized with various prints. Friday, March 20: Latest developments on coronavirus in Michigan As part of a gesture to give back, Addix is donating 10 percent of all face mask sales to the United Way Worldwide's COVID-19 Community Response and Recovery Fund. Dean is also giving away some masks to places in need. A nursing home has already received some. "I want to do a good thing," he said. Read all of MLive's coverage on the coronavirus at mlive.com/coronavirus. Additional information is available at Michigan.gov/Coronavirus and CDC.gov/Coronavirus. PREVENTION TIPS Michigan's State Emergency Operations Center is coordinating state-government resources and the response to the coronavirus spread. It has shared the following tips: What you can do to prevent the spread of COVID-19 and other respiratory diseases: · Always cover coughs or sneezes with a tissue or sleeve. · Stay home if you are sick and advise others to do the same. · Avoid close contact with people who are sick. · Avoid touching your eyes, nose and mouth with unwashed hands. · Wash your hands often with soap and warm water for at least 20 seconds. · Use an alcohol-based hand sanitizer with at least 60% alcohol, if soap and warm water are not available. · Clean and disinfect frequently touched objects and surfaces(computers, keyboards, desks, etc.). · It's not too late to get your flu shot! While the influenza vaccine does not protect against COVID-19 infection, it can help keep you healthy during the flu season. More from MLive Michigan alcohol distillers cleared to make hand sanitizer for coronavirus outbreak Thursday, March 19: Latest developments on coronavirus in Michigan Coronavirus cases now total 9 in Kent County  |
| Adidas 'Ready' Performance Apparel Capsule Protects Against Elements - Sourcing Journal Posted: 20 Mar 2020 03:25 AM PDT Ahead of the Tokyo Olympics set to take place this summer, Adidas has released a new collection of versatile, weather-ready training gear to combat the elements and allow athletes and consumers of performance apparel more opportunities to train for their next hurdle. The Ready multi-sport collection offers responsive fabrics and intuitive design to minimize distractions… This content is for Annual and Limited members only. You can read up to five free articles each month with a Limited Level Subscription. Please log in, or subscribe.  |
| Apparel manufacturers seek material for hospital gowns and masks - Portland Business Journal Posted: 20 Mar 2020 04:45 PM PDT [unable to retrieve full-text content]Apparel manufacturers seek material for hospital gowns and masks Portland Business Journal  |
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