G-III Apparel craters on concerns over weak guidance and rising inventory

|About: G-III Apparel Group, LTD. (GIII)|By:, SA News Editor

G-III Apparel (NASDAQ:GIII) blames warm weather in the U.S. and an uncomfortably high level of promotions for its weak Q4 report. Sales levels in the outerwear category were hit the hardest.

Inventory growth outpaced sales by a wide margin (14% vs 3%).

The company's guidance for the full year also missed expectations. Full-year EPS is seen falling in a range of $2.55 to $2.65 vs. $3.14 consensus.

Previously: G-III Apparel misses by $0.25, misses on revenue (March22)

Previously: More on G-III Apparel's Q4 (March 22)

GIII -24.86% premarket to $41.50.

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