G-III Apparel Group Ltd. (NASDAQ:GIII) shares traded lower Thursday after the apparel company reported fourth-quarter results that missed expectations and issued fiscal 2027 guidance below Wall Street estimates.
Fourth-Quarter Earnings And Sales Miss Estimates
The company reported fourth-quarter adjusted earnings of 30 cents per share, well below the analyst consensus estimate of 59 cents.
Quarterly sales totaled $771.5 million, declining 8.1% year over year and missing the Street estimate of $791.98 million.
Profitability also weakened during the period. Gross profit fell to $285.5 million from $331.6 million in the prior-year quarter. The company posted an operating loss of $29.09 million, compared with an operating profit of $71.77 million a year earlier.
Saks Bankruptcy, Tariffs Hit Sales
During the earnings call, CFO Neal Nackman said, “Fourth quarter gross margins were 37% compared to 39.5% in the previous year, reflecting the negative impact of tariffs, which was the largest quarter …