G III APPAREL GROUP LTD DE

For the period ended Oct 31, 2024. Filed Dec 10, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Oct 31, 2024 · Filed Dec 10, 2024

GIII$32.39+3.1%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 1. Financial Statements

G-III APPAREL GROUP, LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS


· · October 31, · · October 31, · · January 31,
· · 2024 · · 2023 · · 2024
· (Unaudited) · (Unaudited) · ·
· · (In thousands, except per share amounts)
ASSETS
Current assets
Cash and cash equivalents	$104,686	$197,391	$507,829
Accounts receivable, net of allowance for doubtful accounts of $1,355, $18,412 and $1,471, respectively	879,681	863,221	562,363
Inventories	532,463	591,530	520,426
Prepaid income taxes	9,207	2,216	1,356
Prepaid expenses and other current assets	55,183	58,779	68,344
Total current assets	1,581,220	1,713,137	1,660,318
Investments in unconsolidated affiliates	109,911	24,354	22,472
Property and equipment, net	70,298	52,032	55,084
Operating lease assets	286,232	221,474	216,886
Other assets, net	47,246	53,852	45,147
Other intangibles, net	28,232	32,565	31,676
Deferred income tax assets, net	26,964	26,389	19,248
Trademarks	633,508	625,530	630,333
Total assets	$2,783,611	$2,749,333	$2,681,164
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Current portion of notes payable	$10,277	$59,099	$15,026
Accounts payable	239,882	179,396	182,531
Accrued expenses	160,059	153,200	140,535
Customer refund liabilities	88,323	108,042	84,054
Current operating lease liabilities	55,479	55,897	56,587
Income tax payable	45,730	46,380	14,676
Other current liabilities	571	330	219
Total current liabilities	600,321	602,344	493,628
Notes payable, net of discount and unamortized issuance costs	213,898	402,846	402,807
Deferred income tax liabilities, net	51,442	44,265	42,736
Noncurrent operating lease liabilities	246,834	183,522	178,247
Other noncurrent liabilities	22,390	14,543	15,764
Total liabilities	1,134,885	1,247,520	1,133,182

Redeemable noncontrolling interests	—	(1,407)	(2,278)

Stockholders' Equity
Preferred stock; 1,000 shares authorized; no shares issued	—	—	—
Common stock - $0.01 par value; 120,000 shares authorized; 49,396, 49,396 and 49,396 shares issued, respectively	264	264	264
Additional paid-in capital	456,839	453,504	458,841
Accumulated other comprehensive income (loss)	3,420	(15,995)	(3,207)
Retained earnings	1,304,894	1,131,258	1,160,112
Common stock held in treasury, at cost - 5,511, 3,670 and 3,668 shares, respectively	(116,691)	(65,811)	(65,750)
Total stockholders' equity	1,648,726	1,503,220	1,550,260
Total liabilities, redeemable noncontrolling interests and stockholders' equity	$2,783,611	$2,749,333	$2,681,164

The accompanying notes are an integral part of these statements*.*

G-III APPAREL GROUP, LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME


· · Three Months Ended October 31, · · Nine Months Ended October 31,
· · 2024 · 2023 · 2024 · 2023
· · (Unaudited)
· · (In thousands, except per share amounts)
Net sales	$1,086,759	$1,067,110	$2,341,261	$2,333,460
Cost of goods sold	654,628	633,697	1,374,363	1,373,594
Gross profit	432,131	433,413	966,898	959,866
Selling, general and administrative expenses	259,240	236,308	724,891	703,476
Depreciation and amortization	6,556	6,595	20,704	19,130
Asset impairments	—	222	—	222
Operating profit	166,335	190,288	221,303	237,038
Other income (loss)	942	(3,129)	(2,233)	(1,964)
Interest and financing charges, net	(6,358)	(11,024)	(16,658)	(32,666)
Income before income taxes	160,919	176,135	202,412	202,408
Income tax expense	46,151	48,755	57,903	55,651
Net income	114,768	127,380	144,509	146,757
Less: Loss attributable to noncontrolling interests	—	(260)	(273)	(557)
Net income attributable to G-III Apparel Group, Ltd.	$114,768	$127,640	$144,782	$147,314


NET INCOME PER COMMON SHARE ATTRIBUTABLE TO G-III APPAREL GROUP, LTD.:
Basic:
Net income per common share	$2.62	$2.79	$3.24	$3.21
Weighted average number of shares outstanding	43,885	45,723	44,640	45,904

Diluted:
Net income per common share	$2.55	$2.74	$3.17	$3.13
Weighted average number of shares outstanding	44,954	46,560	45,719	46,992

Net income	$114,768	$127,380	$144,509	$146,757
Other comprehensive income (loss):
Foreign currency translation adjustments	15,489	(11,391)	6,589	(4,317)
Other comprehensive income (loss)	15,489	(11,391)	6,589	(4,317)
Comprehensive income	$130,257	$115,989	$151,098	$142,440
Comprehensive loss attributable to noncontrolling interests:
Net loss	—	(260)	(273)	(557)
Foreign currency translation adjustments	—	(1)	38	(25)
Comprehensive loss attributable to noncontrolling interests	—	(261)	(235)	(582)
Comprehensive income attributable to G-III Apparel Group, Ltd.	$130,257	$115,728	$150,863	$141,858

The accompanying notes are an integral part of these statements.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.