Stock Story -
Fashion conglomerate G-III (NASDAQ:GIII) will be reporting earnings tomorrow before market hours. Here’s what investors should know.
G-III missed analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $609.7 million, flat year on year. It was a decent quarter for the company, with an impressive beat of analysts’ earnings estimates but full-year revenue guidance missing analysts’ expectations.
Is G-III a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting G-III’s revenue to decline 1.6% year on year to $649.5 million, a reversal from the 9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.27 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. G-III has missed Wall Street’s revenue estimates three times over the last two years.
Looking at G-III’s peers in the apparel, accessories and luxury goods segment, some have already reported their Q2 results, giving us a hint as to what we can expect. VF Corp’s revenues decreased 8.6% year on year, beating analysts’ expectations by 3.3%, and Figs reported revenues up 4.4%, topping estimates by 1.4%. VF Corp (NYSE:VFC) traded up 7.1% following the results while Figs was down 13.9%.
Read the full analysis of VF Corp’s and Figs’s results on StockStory.
There has been positive sentiment among investors in the apparel, accessories and luxury goods segment, with share prices up 4.5% on average over the last month. G-III is up 3.1% during the same time and is heading into earnings with an average analyst price target of $27.6 (compared to the current share price of $25.24).