\nForbes, NY
\nAssociated Press
\nShares of G-III Apparel Group Ltd. climbed Wednesday, after the sportswear and outerwear maker reported better-than-expected second-quarter results and analysts said the company is poised for additional growth
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\nLate Tuesday, the company said its fiscal second-quarter loss widened, mainly due to two acquisitions, but results still came in better than analysts had predicted. The company also forecast fiscal-year results in line with expectations.<\/p>\n
New York-based G-III expects its women’s sportswear venture with Calvin Klein and its acquisitions of Andrew Marc and Wilsons The Leather Experts Inc.’s outlets to grow profit and sales.<\/p>\n
Todd Slater, Lazard Capital Markets analyst, said in a note to investors Wednesday that the company has the infrastructure in place to double its size in several years, not assuming acquisitions.<\/p>\n
“G-III exuded confidence in forward guidance,” wrote Slater, who rates the company “Buy.”<\/p>\n
Brean Murray, Carret & Co. analyst Eric M. Beder wrote in a note to investors the company will have a more diverse and robust business model due to the “fruits of the first half of the year,” including the deal with CK and the acquisitions.<\/p>\n
“We remain buyers of G-III shares,” he wrote.<\/p>\n
Shares rose $2.10, or 12 percent, to close at $20.10. The stock has traded between $10.73 and $21 during the past 52 weeks.<\/p>\n
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Forbes, NY Associated Press Shares of G-III Apparel Group Ltd. climbed Wednesday, after the sportswear and outerwear maker reported better-than-expected second-quarter results and analysts said the company is poised for additional growth<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n