UPDATE 1-G-III posts narrower-than-expected Q1 loss

* Q1 loss $0.07/shr vs est loss $0.19/shr

* Q1 rev $154.3 mln vs est $134.8 mln

* Sees FY11 EPS at $2.20 to $2.30 per share

June 7 (BestGrowthStock) – G-III Apparel Group Ltd (GIII.O: ) posted
a quarterly loss significantly narrower than expected, helped
by strong spring business in its dress and sportswear
categories, and forecast full-year earnings above market
estimates.

For fiscal 2011, G-III sees earnings of $2.20 to $2.30 a
share on revenue of $950 million.

Analysts on average expect earnings of $2.17 a share on
revenue of $891.8 million, according to Thomson Reuters
I/B/E/S.

For the first quarter ended April 30, the company posted a
net loss of $1.4 million, or 7 cents a share, compared with net
loss of $6.8 million, or 41 cents a share, a year ago.

Revenue rose 43 percent to $154.3 million.

Analysts on average had expected loss of 19 cents per share
on revenue of $134.8 million.

Shares of the company closed at $27.6 Friday on Nasdaq.

Stock Market Research

(Reporting by Shobhana Chadha in Bangalore; Editing by Don
Sebastian)

UPDATE 1-G-III posts narrower-than-expected Q1 loss