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G-III Apparel stock soars after a big earnings beat, license deal to produce Champion outerwear

Clyde Edgerton by Clyde Edgerton
September 7, 2023
in Markets
G-III Apparel stock soars after a big earnings beat, license deal to produce Champion outerwear
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Shares of G-III Apparel Group Ltd. GIII shot up 14.8% toward a 13-month high in premarket trading Thursday, after the fashion apparel and accessories company, with brands including DKNY, Karl Lagerfeld and Wilsons Leather, reported a big fiscal second-quarter earnings beat. The company also announced a license agreement with Hanesbrands Inc. HBI to produce an outerwear collection for the Champion Brand. G-III reported net income for the quarter to July 31 that fell to $16.4 million, or 35 cents a share, from $36.3 million, or 74 cents a share, in the year-ago period. excluding nonrecurring items, adjusted earnings per…



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