For the quarter ended July 31, 2015, G-III Apparel reported that net sales, driven by robust wholesale and retail performance, increased 12 per cent to US $ 474 million from US $ 424 million in the year-ago period. The Company’s net income for the second quarter increased to US $ 12.5 million from US $ 6.2 million in the prior year period.
Morris Goldfarb, G-III’s Chairman, Chief Executive Officer and President, said, “We are pleased to report another strong quarter of growth and increased profitability. Growth in the quarter was driven by increases in our wholesale segment and an increase in comparable store sales from our G.H. Bass stores. We will continue to implement our highly successful business strategy. We are excited to move into the fall and holiday seasons with a strong order book, good sell-through and improved profitability. We believe that our combination of market leading brands, great product and world class execution provide an on-going opportunity to enhance our leadership position and drive superior value to our shareholders, customers and partners.”
G-III is a leading manufacturer and distributor of outerwear, dresses, sportswear, swimwear, women’s suits, women’s performance wear, footwear, luggage, women’s handbags, small leather goods and cold weather accessories under licensed brands, owned brands and private label brands.
