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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Fashion
Cambodia & Canada discuss strengthening economic ties
In the course of a meeting with Hun Manet at the Peace Palace in Phnom Penh, Ambassador DesRoches expressed appreciation for the long-standing diplomatic ties, highlighting the steady progress in bilateral relations, particularly in trade and Canadian investment in Cambodia.
The envoy underscored his country’s commitment to supporting Cambodia’s successful hosting of the 20th Francophonie Summit. He stressed Canada’s commitment to further strengthening and expanding cooperation between the two countries, especially in trade and economic relations, while also reaffirming support for Cambodia’s development priorities.
Cambodian PM Hun Manet and Canadian ambassador to the country Christian DesRoches recently discussed strengthening economic ties, while advancing preparations for the 20th Francophonie Summit scheduled for November.
The envoy stressed Canada’s commitment to further strengthening and expanding bilateral cooperation, especially in trade and economic ties, and reaffirmed support for development priorities.
He thanked Cambodia for its support in promoting Canada’s economic cooperation with the Association of Southeast Asian Nations (ASEAN) and advancing negotiations for the ASEAN-Canada Free Trade Agreement (ACFTA), expected to be concluded and signed soon, according to Cambodian media reports.
Fibre2Fashion News Desk (DS)
Fashion
US CBP to soon launch electronic system for importers to claim refunds
CBP is developing the Consolidated Administration and Processing of Entries (CAPE) functionality within the Automated Commercial Environment (ACE) to streamline the submission and processing of valid refund requests for duties imposed under the International Emergency Economic Powers Act (IEEPA), as authorised by court order or applicable law.
US Customs and Border Protection will launch on April 20 an electronic system that importers can use to claim tariff refunds authorised by court order or applicable law.
Phase 1 will be limited to certain unliquidated entries and certain entries within 80 days of liquidation.
Refunds will be issued within 60-90 days of the Consolidated Administration and Processing of Entries declaration getting accepted.
Phase 1 will be limited to certain unliquidated entries and certain entries within 80 days of liquidation.
CAPE is designed to consolidate refunds of IEEPA duties including interest rather than processing refunds on an entry-by-entry basis.
CBP plans to implement CAPE through a phased development approach, adding more functionality in subsequent phases for more complicated scenarios, it said in a release.
Valid IEEPA refunds will generally be issued within 60-90 days following acceptance of the CAPE declaration, unless a compliance concern requires further CBP review.
However, certain scenarios, such as entries that are extended, suspended or under review, and warehouse entries, will maintain their liquidation status with validated refunds issued at liquidation.
Fibre2Fashion News Desk (DS)
Fashion
US’ Gap & FIT launch programme to mentor fashion students
Named in honor of Gap Inc. co-founder Doris Fisher, the program reflects her legacy of creativity, curiosity, and belief in people. It also builds on Gap Inc.’s commitment to helping bridge the opportunity gap by creating stronger connections between education and careers in the fashion industry.
Gap Inc., led by Richard Dickson, has launched The Doris Fisher Creators Program with the Fashion Institute of Technology to mentor students in fashion careers.
Starting Fall 2026, the programme will offer structured mentorship, industry exposure, and networking for select students, honouring Doris Fisher and strengthening pathways from education to careers.
“Gap Inc. is a house of iconic American brands guided by our purpose — to bridge gaps to create a better world. That includes bridging the opportunity gap. FIT embodies that same spirit, bringing education and industry together to unlock talent and expand what’s possible. We’re committed to opening doors, investing in emerging creatives, and building meaningful pathways into this industry for the next generation,” said Dickson.
The Doris Fisher Creators Program will connect FIT students with Gap Inc. leaders and creatives through a structured mentorship experience designed to provide exposure to the business of fashion, industry insights, and meaningful professional connection.
The program will launch in Fall 2026 and run through the academic year, and the inaugural cohort will include students from select disciplines, including Fashion Design, Graphic Design (Apparel), and Fabric Styling.
“Supporting emerging talent is a core expression of Gap Inc.’s purpose in action. Through initiatives such as The Doris Fisher Creators Program — alongside This Way ONward, the Rotational Management Program, and our broader internship and mentorship efforts — the company continues to bridge the opportunity gap for young people looking to start meaningful careers in fashion and retail,” added Amy Thompson, Chief People Officer at Gap Inc.
“We are incredibly proud to be the first public college to partner with Gap Inc. on this groundbreaking mentorship program. This remarkable opportunity with one of the world’s most iconic brands will support 30 talented FIT students over the next year, placing them at the intersection of innovation and impact,” said Jason S. Schupbach, president of FIT.
A benefit for the FIT Foundation, this year’s FIT Annual Gala honored Gap Inc. President & CEO Richard Dickson and was attended by distinguished guests and alumni including Ciara, Aloe Blacc, Zac Posen, Bob Fisher and others.
The FIT Foundation provided scholarships totaling more than $3 million in 2025.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
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