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By
Reuters
Published
Dec 8, 2010
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G-III Apparel Q3 profit beats, raises FY earnings view

By
Reuters
Published
Dec 8, 2010

Dec 8 - G-III Apparel Group Ltd posted a better-than-expected quarterly profit and raised its earnings view for the full year on strong demand for its brands ahead of the holiday season.

G-III Apparel

The apparel manufacturer, which licenses clothes and accessories under the Calvin Klein, Sean John, Kenneth Cole Productions Inc, Cole Haan, Guess Inc brands, expects to earn $2.73-$2.83 a share for the year, up from its earlier view of $2.60-$2.70 a share.

For the third quarter, the New York City-based company earned $42.7 million, or $2.16 a share, while analysts on average were expecting a profit of $2.09, according to Thomson Reuters.

Revenue was in line with market estimates at $450 million, up from $363.5 million last year.

G-III shares closed at $30.90 on Tuesday on Nasdaq. They have gained about 10 percent since September, when the company reported second-quarter results.

(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Anne Pallivathuckal)

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