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What: Shares of clothing company G-III Apparel Group
So what: For the quarter, G-III, which sells apparel under the Marc New York label, but also has fashion licenses for the Sean John, Kenneth Cole, and Calvin Klein brands, saw revenue rise 9% to $251.5 million as net income dipped slightly to $0.07 from the $0.08 it reported in the year-ago period. Despite the drop in income, these results were more or less in line with Wall Street's expectations of $250.5 million in revenue and a profit of $0.07. Where G-III really got its boost was in its upped full-year forecast, which now calls for revenue of $1.41 billion (up from $1.35 billion), and an EPS range of $2.68-$2.78 (including one-time costs), up from a previous forecast of $2.62-$2.72.
Now what: Here we go again with more evidence that consumers are cutting back spending on everything except for brand names. Michael Kors
Craving more input? Start by adding G-III Apparel to your free and personalized Watchlist so you can keep up on the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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