G-III Apparel Group 2nd-quarter loss widens

By Associated Press
September 10, 2008 | Comments (0)

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G-III Apparel Group Ltd. said its fiscal second-quarter loss widened mostly on seasonal losses related to its Andrew Marc and Wilsons acquisitions, but results still narrowly beat Wall Street's expectations.

Late Tuesday, the apparel maker reported a loss of $3.9 million, or 23 cents per share, compared with a loss of $884,000, or 5 cents per share, in the year-ago period.

Revenue for the period ended July 31 grew 35 percent to $113.5 million from $83.9 million.

Analysts surveyed by Thomson Reuters expected a loss of 24 cents per share on sales of $100.6 million.

G-III purchased Andrew Marc in February and the Wilsons outlet retail chain in July.

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