G-III Apparel Group

Today we released our Third Quarter earnings, delivering $1.07 net sales while meaningfully improving our profitability. Our core brands continue to perform well, with our owned brands (DKNY, KARL LAGERFELD and Vilebrequin) delivering another period of double-digit sales. We’re also pleased to announce that Dana Perlman will join G-III as Chief Growth and Operations Officer. In this newly created role, she will drive innovation, optimize operations, and help identify new opportunities for the Company. Morris Goldfarb, Chairman and Chief Executive Officer, said “Over the last twelve months, we have made significant progress accelerating our strategic priorities. We are developing and are on track with four new growth initiatives to drive our business including the expansion of our owned The Donna Karan Company, LLC. brand, a long-term license for Nautica in North America, a master global licensing agreement for Halston, and a multi-year outerwear license for Champion. Additionally, the executive team and I are excited to work closely with Dana to drive our ambitious growth agenda forward.”

Today we released our Second Quarter earnings, with net sales up 9% from last year. In addition to the strong results of several of our core owned brands The Donna Karan Company, LLC. (DKNY), KARL LAGERFELD, and Vilebrequin, we are making progress on new opportunities, including the repositioning of Donna Karan and our new Nautica, Halston and Champion licenses. Morris Goldfarb, G-III’s Chairman and Chief Executive Officer, said, “We made strong progress on all of our strategic priorities. Our first half performance further validates G-III Apparel Group's ability to successfully navigate what remains a dynamic environment. I am immensely proud of our team’s consistently strong execution of the business. Agility is at the heart of everything we do at G-III Apparel Group and I am confident that we will continue to evolve regardless of external factors, which will drive our business forward and continue to deliver strong results for our shareholders.”