Quarterly ResultMay 5, 2026, 04:11 PM
G-III Apparel FY26 Sales $3.0B, Net Income $116M
AI Summary
G-III Apparel Group reported fiscal year 2026 net sales of $3.0 billion and non-GAAP net income of $116 million, a decline from the prior year attributed to the planned transition out of Calvin Klein and Tommy Hilfiger licenses. Despite this, the company highlighted its strategic pivot towards owned brands and new licenses, maintaining a strong financial position with over $400 million in cash and instituting a quarterly dividend. Shareholders will vote at the Annual Meeting on June 11, 2026, on proposals including the election of eleven directors and the approval of an amended 2023 Long-Term Incentive Plan to increase authorized shares by 2.5 million.
Key Highlights
- Fiscal 2026 Net Sales were $3.0B, down from $3.2B last year.
- Fiscal 2026 Non-GAAP Net Income was $116M, down from $204M.
- Shareholders to vote on increasing 2023 Long-Term Incentive Plan shares by 2,500,000.
- Company ended FY26 with over $400M cash and no borrowings on its $700M credit facility.
- Instituted a quarterly cash dividend of $0.10 per share in Q3 and Q4 FY2026.
- Repurchased over $50M in stock and 5,966,676 shares (FY24-FY26).
- Two current directors, Robert L. Johnson and Laura Pomerantz, will not seek re-election.