Fashion
G-III Apparel lowers fiscal forecast on expected tariff hits
Published
September 4, 2025
G-III Apparel announced on Thursday sales for the second quarter fell 5% to $613.3 million, as the U.S. fashion group lowered its full-year guidance, citing macro-economic headwinds.
The New York-based company said net income for the three months ending July 31 was slashed to $10.9 million, or $0.25 per diluted share, compared to $24.2 million, or $0.53 per diluted share, in the prior year’s quarter.
Despite the quarterly drop, the company said it exceeded expectations across both net sales and earnings during the quarter, driven by the strong momentum of its fashion portfolio, led by DKNY, Donna Karan, Karl Lagerfeld, and Vilebrequin.
“These results highlight our ability to execute on our strategic priorities and leverage our powerful corporate platform to maximize the full potential of our globally recognized brands,” said Morris Goldfarb, G-III’s chairman and chief executive officer.
Looking ahead, G-III Apparel said it expects a total incremental tariff cost of approximately $155 million for fiscal 2026, partially offset through vendor participation, strategic sourcing shifts and targeted price increases. The remaining unmitigated impact, is estimated at $75 million, primarily affecting the second half of the year.
As a result, the company it now forecasts net income to be between $112 million and $122 million, or diluted earnings per share between $2.53 and $2.73, compared to net income of $193.6 million, or $4.20 per diluted share, for fiscal 2025.
Net sales are expected to be approximately $3.02 billion, compared to net sales of $3.18 billion for fiscal 2025.
“Looking ahead, we have updated fiscal 2026 guidance to reflect the current macro environment, a more cautious outlook from our retail partners, as well as the impact of tariffs on our top and bottom lines. We are actively mitigating tariff pressures through a combination of vendor participation, selective sourcing shifts, and targeted price increases.”
In June, G-III Apparel filed a $250-million lawsuit against PVH Corp., escalating tensions between the two fashion giants with allegations of breached licensing agreements and interference in business relationships.
The complaint, filed in New York state court, targets PVH and its Calvin Klein Inc. and Tommy Hilfiger licensing divisions.
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Cotton yarn prices in Ludhiana also held firm, with domestic demand still sluggish and liquidity concerns limiting transactions. A local trader told Fibre*Fashion, “Spinning mills secured export orders, particularly from China, as the weaker rupee created a pricing advantage. This has strengthened mills’ confidence and helped maintain current yarn price levels.”
In Ludhiana, ** count cotton combed yarn was sold at ****;***–*** (~$*.**–*.**) per kg (inclusive of GST); ** and ** count combed yarn were traded at ****;***–*** (~$*.**–*.**) per kg and ****;***–*** (~$*.**–*.**) per kg, respectively; and carded yarn of ** count was noted at ****;***–*** (~$*.**–*.**) per kg today, according to trade sources.
At a seminar organised by BKMEA at the Global Sourcing Expo 2025 in Purbachal, BKMEA president Mohammad Hatem said the changes in labour laws for this sector appear to have shown the ‘seeds of destruction’, just the way it happened to the jute sector. The impact will be visible later, he noted.
The domestic apparel industry may face a crisis similar to the one witnessed by the country’s jute sector once, trade body BKMEA recently cautioned.
At a seminar, BKMEA president Mohammad Hatem said the ‘deceptive’ reforms in labour laws for this sector appear to have shown the ‘seeds of destruction’, just the way it happened to the jute sector.
The impact will be visible later, he noted.
Calling the reforms ‘deceptive’, he lamented: “We feel somewhat betrayed. We are ready to hand over the keys of our factories within a year to them; we hope they will be able to run the industry as well as they run the government.”
IFIC Bank managing director Syed Mansur Mustafa said the reasons behind the reported closure of 400 factories should be properly probed, according to domestic media reports.
Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) administrator Mohammad Abdur Rahim Khan said the narrowness of Bangladesh’s export basket becomes evident during trade negotiations.
Fibre2Fashion News Desk (DS)
By
Reuters
Published
December 5, 2025
Ulta Beauty raised its annual sales and profit forecast on Thursday, betting on strong demand for its makeup and skincare products going into the holiday season.
Shares of the company, which also reported third-quarter results above estimates, were up about 5% in trading after the bell.
The cosmetic retailer enjoyed strong sales at its outlets, helped by its trendy and affordable offerings, along with marketing efforts, which helped attract shoppers, especially younger demographics.
Ulta also benefits from fast-growing demand for fragrances, as well as the popularity of celebrity-owned labels on its shelves, including Rihanna‘s Fenty Beauty.
The positive outlook comes at a time when budget-conscious consumers are pulling back on discretionary spending amid macroeconomic uncertainty, causing expectations of muted holiday spending in the U.S. this year.
“As we look ahead to the all-important holiday season, we know many consumers’ wallets are pressured and they are seeking value,” CEO Kecia Steelman said in a statement.
The company now expects annual net sales of about $12.3 billion, compared with its prior forecast of $12 billion to $12.1 billion.
It expects comparable sales to rise in the range of 4.4% to 4.7% in fiscal 2025, compared with its prior growth forecast of 2.5% to 3.5%.
Ulta Beauty said it expects annual profit of $25.20 to $25.50 per share, higher than its prior forecast of $23.85 to $24.30.
Third-quarter sales rose 12.9% to $2.86 billion, compared with the average analyst estimate of $2.72 billion, while earnings per share of $5.14 beat estimates of $4.64, as per data compiled by LSEG.
Meanwhile, lower e-commerce shipping costs and inventory shrink – a term used for lost or damaged stock – helped the company’s margins.
© Thomson Reuters 2025 All rights reserved.
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