DKNY and Karl Lagerfeld drive G-III’s quarterly sales surge

(Source: DKNY)

G-III Apparel Group has reported an increase in sales for the first quarter of FY24, mostly driven by double-digit growth at DKNY and Karl Lagerfeld. 

Net sales in the first quarter were $609.7 million, compared to $606.6 million in the same period last year. 

“We had a strong start to fiscal 2025, delivering first-quarter earnings per diluted share well ahead of our expectations,” said Morris Goldfarb, G-III’s chairman and CEO. 

“Our performance was driven by double-digit increases in DKNY and Karl Lagerfeld along with a successful relaunch of Donna Karan, reflecting our commitment to investing in our owned brands and our ability to meet the ever-changing needs of our consumers.” 

The company has also provided an update on the fiscal year ending January 31 in which it continues to anticipate about $60 million in additional expenses, largely related to the Donna Karan, Nautica, and Halston launches.

The company expects net sales of around $3.2 billion and net income of between $170 million and $175 million, or $3.58 to $3.68 per diluted share.

Earlier this year, G-III reported a 4 per cent reduction in revenue to US$3.1 billion for the fiscal year ending January 31, with net gain of $176.2 million compared to a net loss of $133.1 million the previous year. 

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