G-III Apparel Group Closes Acquisition of Donna Karan International
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Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
December 2, 2016 9:49 AM ESTBrean Capital maintained a Buy rating on G-III Apparel Group (NASDAQ: GIII), and cut the price target to $39.00 (from $41.00), following the company's 3Q earnings report. GIII reported revenues of $883M down -3% y/y compared to consensus' +3% estimates ~$940M. Adjusted EPS of $1.50 came in below consensus of $1.54. The Miss was largely driven by soft outerwear sales and continued soft trends at retail.
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