$GIII

G III APPAREL GROUP LTD /DE/

CIK:0000821002|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2026	Jul. 31, 2025
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Net sales	$ 554,093	$ 613,266	$ 1,090,055	$ 1,196,875
Cost of goods sold	303,712	362,795	491,928	699,860
Gross profit	250,381	250,471	598,127	497,015
Selling, general and administrative expenses	231,354	226,845	486,677	458,340
Depreciation and amortization	8,195	7,326	15,383	13,899
Operating profit	10,832	16,300	96,067	24,776
Other income (loss)	(2,708)	(707)	(3,510)	2,755
Interest and financing charges, net	5,966	304	7,140	(157)
Income before income taxes	14,090	15,897	99,697	27,374
Income tax expense (benefit)	(6,123)	4,958	12,950	8,676
Net income	$ 20,213	$ 10,939	$ 86,747	$ 18,698
Basic:
Net income per common share	$ 0.48	$ 0.26	$ 2.05	$ 0.43
Weighted average number of shares outstanding (in shares)	42,399	42,777	42,296	43,254
Diluted:
Net income per common share	$ 0.46	$ 0.25	$ 1.95	$ 0.42
Weighted average number of shares outstanding (in shares)	44,338	44,219	44,377	44,795
Net income	$ 20,213	$ 10,939	$ 86,747	$ 18,698
Other comprehensive income (loss):
Foreign currency translation adjustments	(3,484)	32,917	(11,799)	49,034
Other comprehensive income (loss)	(3,484)	32,917	(11,799)	49,034
Comprehensive income	$ 16,729	$ 43,856	$ 74,948	$ 67,732

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities
Net income	$ 86,747	$ 18,698
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,383	13,899
Loss on disposal of fixed assets	200	147
Non-cash operating lease costs	29,665	27,453
Equity loss in unconsolidated affiliates	2,397	429
Share-based compensation	16,586	10,967
Deferred financing charges and debt discount amortization	626	626
Deferred income taxes	(10,399)	5,972
Changes in operating assets and liabilities:
Accounts receivable, net	133,619	149,821
Inventories	(94,995)	(161,670)
Income taxes, net	10,254	(12,430)
Prepaid expenses and other current assets	(11,572)	(10,454)
Other assets, net	470	2,182
Customer refund liabilities	(21,929)	(19,251)
Operating lease liabilities	(28,907)	(28,054)
Accounts payable, accrued expenses and other liabilities	50,583	170,542
Net cash provided by operating activities	178,728	168,877
Cash flows from investing activities
Operating lease assets initial direct costs		(19)
Investment in equity interest of private company		(732)
Capital expenditures	(17,573)	(18,419)
Net cash used in investing activities	(17,573)	(19,170)
Cash flows from financing activities
Repayment of borrowings - foreign facilities	(224,300)	(72,091)
Proceeds from borrowings - foreign facilities	220,645	80,129
Dividends paid on common stock	(8,493)
Purchase of treasury shares	(7,927)	(44,345)
Taxes paid for net share settlements	(16,284)	(4,944)
Net cash used in financing activities	(36,359)	(41,251)
Foreign currency translation adjustments	(2,268)	11,882
Net increase in cash and cash equivalents	122,528	120,338
Cash and cash equivalents at beginning of period	406,662	181,440
Cash and cash equivalents at end of period	529,190	301,778
Cash payments:
Interest, net	1,602	2,068
Income tax payments, net	$ 11,370	20,249
Excise tax liability related to stock repurchases		$ 370

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2026	Jan. 31, 2026	Jul. 31, 2025
Current assets
Cash and cash equivalents	$ 529,190	$ 406,662	$ 301,778
Accounts receivable, net of allowance for doubtful accounts of $1,382, $1,472 and $19,038, respectively	403,426	537,045	474,931
Inventories	555,024	460,029	639,756
Prepaid income taxes	9,818	12,288	8,050
Prepaid expenses and other current assets	64,212	53,023	60,500
Total current assets	1,561,670	1,469,047	1,485,015
Investments in unconsolidated affiliates	105,170	110,226	116,707
Property and equipment, net	80,741	78,042	78,891
Operating lease assets	316,862	257,619	264,526
Other assets, net	22,409	23,903	65,382
Other intangibles, net	23,312	25,564	26,160
Deferred income tax assets, net	9,863	7,510	15,760
Trademarks	631,820	638,909	638,540
Total assets	2,751,847	2,610,820	2,690,981
Current liabilities
Current portion of notes payable	3,662	7,104	8,612
Accounts payable	321,514	264,005	431,034
Accrued expenses	131,419	138,493	115,118
Customer refund liabilities	54,379	76,308	60,734
Current operating lease liabilities	51,546	52,244	52,604
Income tax payable	14,919	7,135	3,819
Other current liabilities		376	419
Total current liabilities	577,439	545,665	672,340
Notes payable	4,173	4,638	6,869
Deferred income tax liabilities, net	53,342	61,387	54,375
Noncurrent operating lease liabilities	281,458	220,713	227,691
Other noncurrent liabilities	16,321	18,094	21,185
Total liabilities	932,733	850,497	982,460
Stockholders' Equity
Preferred stock; 1,000 shares authorized; no shares issued
Common stock - $0.01 par value; 120,000 shares authorized; 49,396, 49,396 and 49,396 shares issued, respectively	264	264	264
Additional paid-in capital	465,644	476,005	467,375
Accumulated other comprehensive income	12,121	23,920	23,515
Retained earnings	1,495,066	1,416,812	1,372,376
Common stock held in treasury, at cost - 6,895, 7,180 and 7,206 shares, respectively	(153,981)	(156,678)	(155,009)
Total stockholders' equity	1,819,114	1,760,323	1,708,521
Total liabilities and stockholders' equity	$ 2,751,847	$ 2,610,820	$ 2,690,981