G-III Net Rises 70.2% in Fourth Quarter

G-III Apparel Group Ltd. easily beat analysts’ consensus estimates for fourth-quarter profits while coming up short of them on the top line. In the three months ended Jan. 31, the wholesaler and retailer of outerwear and sportswear registered net income of $22.2 million, or 96 cents a diluted share, 70.2 percent above the $13.1 million, or 62 cents, reported during the final quarter of fiscal 2013. Adjusted EPS was 98 cents, 15 cents above the 83 cents expected, on average, by analysts. Revenues were up 8.8 percent, to $514.3 million from $472.8 million, but below the $528.3 million estimated by analysts. Gross margin grew to 35.7 percent of sales from 35.2 percent a year ago, and inventories ended the quarter and year at $426.2 million, 18.5 percent above their prior-year level. Neal Nackman, chief financial officer, told analysts on a Tuesday morning conference call that retail operations saw a sales expansion of about 12 percent in the fourth quarter, to $175 million, with same-store sales up 15.4 percent at G.H. Bass, acquired from PVH Corp. in November 2013. Morris Goldfarb, chairman, president and chief executive officer, commented, “Wilsons continued to demonstrate strength during a good fourth quarter with comp sales up 5.5 percent. We

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