G III APPAREL GROUP LTD DE

Outlook

The Company today issued its outlook for the fiscal year ending January 31, 2025. This outlook anticipates approximately $60.0 million in incremental expenses, primarily associated with the launches of Donna Karan, Nautica and Halston. Approximately 65% of these expenses are related to marketing initiatives to support the Donna Karan and DKNY brands. The remaining costs are principally related to technology and talent to expand operational capabilities.

Fiscal 2025

For fiscal 2025, the Company expects net sales of approximately $3.20 billion and net income between $167.0 million and $172.0 million, or between $3.50 and $3.60 per diluted share. This compares to net sales of $3.10 billion and net income of $176.2 million, or $3.75 per diluted share, for fiscal 2024.

Non-GAAP net income for fiscal 2025 is expected to be between $167.0 million and $172.0 million, or between $3.50 and $3.60 per diluted share. This compares to non-GAAP net income of $189.8 million, or $4.04 per diluted share, for fiscal 2024.

Full-year adjusted EBITDA for fiscal 2025 is expected to be between $290.0 million and $295.0 million compared to adjusted EBITDA of $324.1 million in fiscal 2024.

First Quarter Fiscal 2025

For the first quarter of fiscal 2025, the Company expects net sales of approximately $615.0 million compared to $606.6 million in the same period last year. Net loss is expected to be in the range of $(5.0) million and break-even, or $(0.10) and $0.00 per share. This compares to net income of $3.2 million, or $0.07 per diluted share, in last year’s first quarter.

Non-GAAP net income for the first quarter of fiscal 2025 is expected to be between $(5.0) million and break-even, or between $(0.10) and $0.00 per share. This compares to non-GAAP net income of $6.0 million, or $0.13 per diluted share, for the first quarter of fiscal 2024.