G-III Apparel downgraded to Neutral from Buy at CL King
The Fly

G-III Apparel downgraded to Neutral from Buy at CL King

CL King analyst Steven Marotta downgraded G-III Apparel to Neutral from Buy without a price target. G-III Apparel reported "mixed" Q3 sales and EPS, with "one time" logistical associated with higher inventory levels being blamed for the EPS miss. Even larger than the earnings miss was the announcement of the Calvin Klein and Tommy Hilfiger licensing agreement permanently expiring between 2025 and 2027, as the brands represented more than 50% of G-III’s total consolidated sales in the last two fiscal years, Marotta tells investors in a research note.

Published first on TheFly

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