G-III Apparel Q1 net income $66.5M with tariff benefit; raises fiscal 2027 outlook
G-III Apparel reported first-quarter fiscal 2027 net sales down 8% to $536.0 million, while GAAP net income rose to $66.5 million, or $1.50 per diluted share, helped by a $102.7 million pre-tax benefit from expected recovery of IEEPA tariffs. The company raised its fiscal 2027 net income guidance, but its non-GAAP net loss of $0.21 per share and its lower-sales outlook show the profit gain depends heavily on the one-time tariff item.
Key points
- Net sales fell 8% to $536.0 million from $583.6 million a year earlier.
- GAAP net income was $66.5 million, or $1.50 per diluted share, versus $7.8 million, or $0.17, last year.
- Non-GAAP net loss was $0.21 per share, compared with non-GAAP earnings of $0.19 per share last year.
- Fiscal 2027 GAAP net income is now expected at $171.0 million to $175.0 million; second-quarter net income is expected at $7.0 million to $11.0 million.
The filing
Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.