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UPDATE 1-G-III Apparel sales beat estimates
June 5, 2012 / 12:03 PM / 6 years ago

UPDATE 1-G-III Apparel sales beat estimates

* Q1 revenue rises 16.5 pct to $229.4 mln vs est $213.4 mln

* Q1 loss/share $0.04 vs est loss/share $0.04

* Reaffirms FY13 EPS outlook of $2.62-$2.72

June 5 (Reuters) - G-III Apparel Group Ltd’s (GIII.O) first-quarter sales beat market estimates as it provided shoppers with more brands to choose from.

The apparel company, which reaffirmed its full-year outlook, said it was building its sales volumes in a number of categories that will lead to an improvement in operating margins.

G-III Apparel - which also licenses clothes and accessories under the Sean John, Kenneth Cole Productions KCP.N brands - said quarterly loss widened to $847,000, or 4 cents per share, from $520,000, or 3 cents per share last year.

Sales rose 16.5 percent to $229.4 million, above analysts’ estimates of $213.4 million, according to Thomson Reuters I/B/E/S.

G-III Apparel’s shares closed at $24.00 on Monday on the Nasdaq.

(Reporting by Juhi Arora in Bangalore; Editing by Maju Samuel)

((; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: Keywords: GIIIAPPAREL/RESULTS

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