G-III Apparel announced on Thursday a 9.8% increase in sales to $839.5 million in the fourth quarter, capping off a solid year for the New York-based fashion firm, as it focuses on it core brands and transitions out of licensing for Calvin Klein and Tommy Hilfiger.
DKNY
The owner of Karl Lagerfeld, DKNY, and Vilebrequin brands, said net income for the three months grew to $48.8 million, or $1.07 per diluted share, compared to $28.9 million, or $0.61 per diluted share, in the prior year’s fourth quarter.
Annual sales for the 12 months ending January 31 rose 2.7% to $3.18 billion, while net income reached $193.6 million, or $4.20 per diluted share, compared to $176.2 million, or $3.75 per diluted share, in the prior year.
“Fiscal 2025 was an incredible year, marked by robust top and bottom-line growth. Our world-class teams demonstrated strong execution of our strategic priorities, including bringing four new brands to market and driving outsized growth of our owned brands,” said Morris Goldfarb, G-III’s chairman and chief executive officer.
“We delivered record non-GAAP earnings per diluted share of $4.42, a 9% increase over last year and above our expectations, while also expanding gross margins. These results were achieved despite a very challenging operating environment, and I want to thank our global teams for their unwavering efforts.
“We are confident in the power of our brands and business model. We believe the momentum of our key owned brands DKNY, Donna Karan, Karl Lagerfeld, and Vilebrequin will continue to deliver double-digit sales increases. This growth will help offset the reduced sales of our Calvin Klein and Tommy Hilfiger businesses as we transition out of those licenses. Our strong financial position, together with our proven track record, provides us with ample flexibility to invest in our future. G-III is undergoing an incredible transformation, and we are committed to delivering long-term growth and creating shareholder value,” concluded Goldfarb.
Despite the sales growth, G-III said it expects fiscal 2026 sales to be approximately $3.14 billion, slightly down on this year’s sales of $3.18 billion.
