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By
Reuters
Published
Jun 1, 2016
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G-III Apparel sales beat estimates

By
Reuters
Published
Jun 1, 2016

G-III Apparel Group Ltd's first-quarter sales beat market estimates as it provided shoppers with more brands to choose from.



The apparel company, which reaffirmed its full-year outlook, said it was building its sales volumes in a number of categories that will lead to an improvement in operating margins.

G-III Apparel - which also licenses clothes and accessories under the Sean John, Kenneth Cole Productions brands - said quarterly loss widened to $847,000, or 4 cents per share, from $520,000, or 3 cents per share last year.

Sales rose 16.5 percent to $229.4 million, above analysts' estimates of $213.4 million, according to Thomson Reuters I/B/E/S.

G-III Apparel's shares closed at $24.00 on Monday on the Nasdaq.

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