G-III Apparel to Acquire Marc Jacobs; Q1 Results Mixed

G-III Apparel Group announced its first fiscal quarter results and its agreement to acquire the Marc Jacobs operating business through a joint venture with WHP Global. The company reported Q1 FY2027 net sales of $536 million, a decrease from the prior year, but beat guidance. Net income per diluted share was $1.50, significantly up from $0.17 YoY, though non-GAAP net loss per share was ($0.21). G-III is raising its full-year earnings guidance for fiscal 2027. The Marc Jacobs acquisition is expected to accelerate growth and will be dilutive in the first year post-closing.