G-III Apparel Group (GII) reported a second quarter adjusted loss of $0.15 per share Wednesday morning, compared to the profit of $0.01 per share last year. Analysts expected a loss of $0.26 per share. The company also increased its full year EPS forecast to between $1.11 and $1.21, from prior expectations of $1.04 to $1.14. The consensus estimate is for EPS of $1.27.
G-III Apparel gapped open higher Wednesday and climbed during the first hour of trade. The stock settled into a range for the rest of the session and closed up by 2.75 at $30.29 on above average volume. G-III Apparel broke out to an 8-month high.
For comments and feedback contact: editorial@rttnews.com
Business News