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G-III Apparel Expected to Report "Small" Q2 Earnings Beat Amid "Solid Demand" for Owned Brands, UBS Says
2024-08-29 03:26
03:26 PM EDT, 08/28/2024 (MT Newswires) -- G-III Apparel's (GIII) Q2 earnings are expected to beat consensus forecasts by a "small" margin as demand for its owned brands such as Karl Lagerfeld and DKNY "remains solid," UBS said in a note Tuesday.
Sales are expected to be in line with consensus, with potential challenges in the department stores channel due to tight inventory management, the investment firm said.
G-III is expected to maintain its FY25 EPS guidance, as it continues to see solid demand for its brands despite the conservative approach by wholesale partners, UBS said.
The market will focus on G-III's guidance for Q3, particularly in terms of sales and EPS outlooks, which are expected to bracket consensus forecasts, the note said.
UBS said that sentiment around G-III remains bearish, with the stock trading at a significant discount to its peers, reflecting concerns about long-term growth.
UBS maintained neutral rating on G-III with a $31 price target.
Shares of the company were down 1.6% in recent Wednesday trading.
Price: 25.87, Change: -0.42, Percent Change: -1.60
