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US G-III Apparel reports USD78m profit in Q3  Join our daily free Newsletter

MENAFN - 06/12/2012

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(MENAFN) New York-based G-III Apparel Group Ltd. reported an 11 percent increase in quarterly profit, despite shipping problems stemming from Superstorm Sandy, AP reported.

The company said it made USD48.3 million net profit during its fiscal third quarter ended October 31, up from USD43.6 million a year earlier.

The company also reported a 7 percent growth in quarterly revenue to USD543.5 million from USD510 million a year ago.

CEO Morris Goldfarb said that Sandy, which struck the East Coast in late October, caused an interruption in G-III's shipping during the quarter's peak days.

G-III Apparel Group Ltd. makes dresses, coats, handbags and other items sold in its Wilsons Leather stores as well as by other retailers, including department stores.

 






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