G-III Apparel Group’s Post

G-III Apparel Group Ltd (NASDAQ:GIII) has reported third-quarter earnings that surpassed expectations but revenue that missed the mark, sending its shares lower in early Tuesday morning trading. The clothing and accessories company, which owns the #DKNY and #TommyHilfiger brands, also announced the appointment of industry veteran Dana Perlman as its chief growth and operations officer, effective January 8, 2024. For the three months to October 31, 2023, the company reported a 1% decline in revenue to $1.07 billion, below the $1.13 billion expected by #WallStreet analysts. Adjusted earnings per share (EPS) jumped 106% to $2.78, beating analysts’ consensus of $2.08, according to Zacks Investment Research. The company said the earnings growth was supported by strength across its wholesale segment, prudent inventory management and financial discipline. More at #Proactive #ProactiveInvestors #GIII #GIIIApparel #GIIIApparelGroup http://ow.ly/Lx1O1054Jn9

AMERICAN EAGLE OUTFITTERS INC. (NYSE:AEO) shares plunged over 16% in premarket trade on Tuesday after the apparel brand forecast fourth-quarter operating income of between $105 million to $115 million, with the midpoint of this range below Wall Street estimates of $114 million. This overshadowed the company’s better-than-expected 3Q results, with revenue of $1.3 billion and earnings per share of $0.49, beating estimates of $1.28 billion and $0.48 billion respectively. Total revenue was up 5%, with #AmericanEagle revenue up 2% to $857 million and revenue from Aerie, American Eagle’s intimate apparel sub-brand, up 12% to $393 million. The retailer also raised its full-year sales forecast to mid-single-digit growth over the previous financial year, up from its prior guidance for revenue to increase by a low-single-digit percentage. More at #Proactive #ProactiveInvestors http://ow.ly/QHbw1052X35 #NYSE #AEO

#KontoorBrands, the owner of prominent apparel brands #Wrangler and #Lee, is scheduled to report earnings before the market opens on November 2.  The Street consensus for the company is earnings of $1.18 per share on revenue of $638.68 million, compared to $0.90 per share on revenue of $606.52 million a year earlier.  #Kontoor has a trailing four-quarter earnings surprise of 11.6%, on average, according to Zacks. A quarter ago, the company posted a 16.7% surprise.  Investors will be watching for updates on the company’s direct-to-consumer marketing, as well as its growth in international markets.  In terms of brands, the Zacks Consensus Estimate for the Wrangler and Lee brands are $214 million and $427 million, respectively. That amounts to year-over-year growth of 8.1% and 5.2%, respectively.  More at #Proactive #ProactiveInvestors http://ow.ly/7rLq104Zgmu

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Is Hanes Worth More than the Sum of Its Parts?

The start of a trend? Interesting statistics on the trend of US e-commerce based sales. Now, I have my own thoughts about the viability and appealability of their products to specific demographics. That being said, Columbia could be a harbinger (never get to use that word 😁) of things to come.

Skechers Announces Third Quarter 2023 Financial Results and Record Quarterly Sales of $2.02 Billion! “Our record third quarter sales were the result of our continued innovation and determination to deliver comfort, style and quality in every pair,” began Robert Greenberg, Chief Executive Officer of Skechers. “We introduced a collaboration with entertainment legend Snoop Dogg, and we launched Skechers Football boots with Harry Kane, one of the leading strikers in the world and captain of England's national team. Both ambassadors and their products generated significant media and consumer attention for the brand." Third Quarter Highlights Record quarterly sales of $2.02 billion, a year-over-year increase of 7.8% Diluted earnings per share of $0.93, a year-over-year increase of 69.1% Direct-to-Consumer sales grew 23.8% Inventory decrease of $436.0 million or 24.0% from December 31, 2022 Repurchased $40 million of Class A common stock

🌟 Authentic Brands Group to purchase Champion from Hanesbrands for just over $1 billion. 📅 Reports suggest deal could be finalized next week. 📉 Champion's sales dropped by 23% in Q4 2023, prompting Hanesbrands to offload it. 🌟 Despite decline, Champion attracted interest from various buyers. 🛍️ Acquisition will expand Authentic's portfolio, including Billabong, Forever 21, and more. ⚙️ Sale may lead to job losses as operations are outsourced. 💼 Transaction expected to boost Hanesbrands amid sales decline and significant debt. 📝 Finalization anticipated by late May or early June. https://lnkd.in/eHDWCgki

[Debt-Saddled Hanesbrands Might Sell Champion] A “for sale” sign might be coming to Champion. Hanesbrands Inc. on Tuesday said it’s eyeing a “broad range of alternatives” for the activewear brand, after activist investor Barington Capital urged the North Carolina apparel company to shave down its $3.6 billion debt bill last month. Though it might end up keeping Champion, the Hanesbrands board is mulling a sale or “other strategic transaction” focused on driving value for shareholders, the company said in a statement. According to Hanesbrands chairman Ronald L. Nelson, Champion could benefit from ownership separate from the innerwear specialist, which built an empire on close-to-skin garments from Hanes, Bali, Playtex and Maidenform. CEO Steve Bratspies said Hanesbrands is working to “drive accelerated growth and profitability” while streamlining the business and priming the company for “long-term success.” News of a potential Champion sale comes as Hanesbrands closes its lone remaining U.S. cut-and-sew facility this month. It ran into trouble last year when it wound up with too much inventory like much of the apparel industry. Many retail partners cut innerwear replenishment orders this year, and Champion sales fell short of expectations, leaving the highly leveraged company in a financial pressure cooker. Hanesbrands got started on cutting costs last month when it relocated of a few hundred U.S. jobs offshore after January layoffs. Two years ago, the company announced a plan to shore up finances and streamline its global supply chain. Barington Capital chairman James Mitarotonda in August turned up the heat, telling Nelson to get Hanesbrands back to creating shareholder value. “In order to reverse Hanesbrands’ rapidly declining share price, we believe the company must immediately focus on cash generation and debt reduction while also considering new management and directors to implement these performance enhancing initiatives,” Mitarotonda wrote in a letter to Nelson. Hanesbrands fired back at Barington, stating that the board has the “right mix of expertise and diversity” and that the company’s Full Potential Plan will “unlock significant opportunities.” The plan projected Champion becoming a $3 billion global brand by 2024, and outlined a goal to double the company’s market share with millennial and Gen Z consumers. … She continued, “This partnership creates a significant opportunity to leverage G-III’s expertise in the outerwear category and their diversified distribution network, which will enable us to extend our offerings and support the brand’s lifestyle proposition.” Source: Sourcing Journal https://lnkd.in/gdqjCzMS

Shares of DICK'S Sporting Goods soared on Thursday morning after the retailer reported sales and earnings figures that crushed expectations. In the fourth quarter, the sporting goods store’s revenues were $3.88 billion, up 7.8 percent from the same quarter last year and ahead of the $3.8 billion expected by analysts surveyed by Yahoo Finance. Non-GAAP earnings per diluted share were $3.85, up 31 percent from last year and ahead of the $3.35 analysts were looking for. Comparable store sales were up 2.8 percent, with growth across footwear as well as apparel.