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• Net Sales (Q4 2025): $840 million, up 10% from $765 million in Q4 2024.

• Wholesale Segment Sales (Q4 2025): $799 million, compared to $729 million in Q4 2024.

• Retail Segment Sales (Q4 2025): $56 million, compared to $51 million in Q4 2024.

• Gross Margin (Q4 2025): 39.5%, up from 36.9% in Q4 2024.

• Non-GAAP Net Income (Q4 2025): $58 million or $1.27 per diluted share, compared to $36 million or $0.76 per diluted share in Q4 2024.

• Net Sales (Fiscal Year 2025): $3.18 billion, an increase of 2.7% from $3.1 billion in Fiscal Year 2024.

• Gross Margin (Fiscal Year 2025): 40.8%, up from 40.1% in Fiscal Year 2024.

• Non-GAAP Net Income (Fiscal Year 2025): $204 million or $4.42 per diluted share, up 9% from $190 million or $4.04 per diluted share in Fiscal Year 2024.

• Inventory (End of Fiscal Year 2025): $478 million, down from $520 million at the end of Fiscal Year 2024.

• Net Cash Position (End of Fiscal Year 2025): $175 million, compared to $90 million at the end of Fiscal Year 2024.

• Fiscal Year 2026 Guidance: Expected net sales of $3.14 billion, a decrease of approximately 1%.

• Non-GAAP Earnings Per Share (Fiscal Year 2026 Guidance): Between $4.15 and $4.25.

• Adjusted EBITDA (Fiscal Year 2026 Guidance): Expected between $310 million and $315 million, compared to $326 million in Fiscal Year 2025.

• First Quarter Fiscal Year 2026 Guidance: Expected net sales of approximately $580 million, compared to $610 million in Q1 2025.

• Non-GAAP Net Income (Q1 Fiscal Year 2026 Guidance): Between $2 million and $7 million or $0.05 to $0.15 per share.

• Warning! GuruFocus has detected 4 Warning Signs with APYX.

Release Date: March 13, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• G-III Apparel Group Ltd (NASDAQ:GIII) reported outstanding fourth quarter results, outperforming expectations with a 10% increase in net sales compared to the previous year.

• The company achieved record non-GAAP earnings per share of $4.42 for fiscal 2025, a 9% increase over the previous year.

• G-III's own brands, including DKNY, Karl Lagerfeld, and Donna Karan, experienced over 20% growth, contributing significantly to the company's top-line growth.

• The successful relaunch of the Donna Karan brand exceeded internal expectations, delivering strong profitability and high sell-through rates.

• G-III's investment in All We Wear Group (AWWG) is expected to accelerate international growth, expanding the reach of its brands in Spain and Portugal.

Negative Points

• G-III Apparel Group Ltd (NASDAQ:GIII) anticipates a decline in net sales of approximately 1% for fiscal 2026, primarily due to the expiration of Calvin Klein and Tommy Hilfiger licenses.

• The company faces challenges from the unpredictable operating environment, including potential impacts from tariffs and economic uncertainties.

• G-III's retail segment, despite improvements, still faces challenges, with losses only cut in half in North America.

• The company is experiencing a decline in sales from its PVH licenses, which represented a significant portion of its revenue.

• G-III's guidance for fiscal 2026 indicates a decrease in non-GAAP net income compared to fiscal 2025, reflecting ongoing challenges and strategic investments.