Barclays raised the firm’s price target on G-III Apparel to $23 from $20 and keeps an Equal Weight rating on the shares. The company’s Q2 earnings came in well ahead of expectations, driven by a strong performance in outwear, and its guidance for the full year was raised primarily on gross margin with better freight recapture, the analyst tells investors in a research note.. Additionally, G-III announced the additional license for Champion outwear beginning in Fall 2024, says the firm.
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Read More on GIII:
- G-III Apparel (NASDAQ: GIII) Surges After Stunning Q2 Earnings Beat
- Hanesbrands G-III Apparel in licensing pact for Champion & C9 outerwear
- G-III Apparel sees Q3 EPS $2.03- $2.13, consensus $1.83
- G-III Apparel sees FY24 EPS $3.05 and $3.15 , consensus $2.80
- G-III Apparel reports Q2 EPS 40c, consensus 1c