Net income tumbled 34% to $63,174,000 in the third quarter ended Oct. 31 from $95,387,000 last year on 27% lower sales of $826,561,000, down from $1,128,403,000. Athleisure and comfort apparel outperformed the dress business, driven by active lifestyle clothing from DKNY, CK and Tommy Hilfiger, but GIII expects pent-up demand to provide a big boost to women’s apparel after the pandemic. Gross margin expanded 70 basis points to 36.0% while SG&A was ... Log in to view full article.
