G-III (GIII) Reports Q1: Everything You Need To Know Ahead Of Earnings

Adam Hejl /
2024/06/05 3:01 am EDT

Fashion conglomerate G-III (NASDAQ:GIII) will be announcing earnings results tomorrow before market hours. Here's what to expect.

G-III missed analysts' revenue expectations by 6.4% last quarter, reporting revenues of $764.8 million, down 10.5% year on year. It was a weak quarter for the company, with a miss of analysts' revenue estimates and underwhelming earnings guidance for the next quarter.

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 grow 1.7% year on year to $616.7 million, a reversal from the 11.9% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.03 per share.

G-III Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. G-III has missed Wall Street's revenue estimates twice over the last two years.

Looking at G-III's peers in the apparel, accessories and luxury goods segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Figs posted flat year-on-year revenue, beating analysts' expectations by 1.6%, and Kontoor Brands reported a revenue decline of 5.4%, topping estimates by 3.8%. Figs traded down 4.4% following the results while Kontoor Brands was up 5.7%.

Read our full analysis of Figs's results here and Kontoor Brands's results here.

Investors in the apparel, accessories and luxury goods segment have had steady hands going into earnings, with share prices flat over the last month. G-III is up 8.1% during the same time and is heading into earnings with an average analyst price target of $27.6 (compared to the current share price of $30.7).

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