G-III (GIII) Reports Q4: Everything You Need To Know Ahead Of Earnings
Stock Story
Published Mar 13, 2024 03:01
Updated Mar 13, 2024 09:17
G-III (GIII) Reports Q4: Everything You Need To Know Ahead Of Earnings
Stock Story -
Fashion conglomerate G-III (NASDAQ:GIII) will be reporting results tomorrow before market open. Here's what to expect.
Last quarter G-III reported revenues of $1.07 billion, down 1% year on year, missing analyst expectations by 5.9%. It was a mixed quarter for the company, with an impressive beat of analysts' earnings estimates but full-year revenue guidance missing analysts' expectations.
Is G-III buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting G-III's revenue to decline 4.4% year on year to $817 million, a further deceleration on the 14.2% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.68 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 5.6%.
Looking at G-III's peers in the apparel, accessories and luxury goods segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Carter's's revenues decreased 5.9% year on year, missing analyst estimates by 1.3% and Ralph Lauren (NYSE:RL) reported revenues up 5.6% year on year, exceeding estimates by 3.4%. Carter's traded up 1.6% on the results, and Ralph Lauren was up 6.7%.
Read the full analysis of Carter's's and Ralph Lauren's results on StockStory.
Investors in the apparel, accessories and luxury goods segment have had steady hands going into the earnings, with the stocks up on average 0.8% over the last month. G-III is down 3.4% during the same time, and is heading into the earnings with analyst price target of $28.8, compared to share price of $29.92.
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Written By: Stock Story
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