Donna Karan parent G-III Apparel Group Ltd. GIII posted mixed numbers for its fiscal fourth quarter on Thursday, after swinging to a loss driven by a goodwill impairment charge. The New York-based company had a net loss of $261.1 million, or $5.54 a share, for the quarter through Jan. 31, after earnings of $48.4 million, or 98 cents a share, in the year-earlier period. Excluding a $291.5 million non-cash goodwill impairment charge, the company’s adjusted EPS came to 41 cents, below the 42 cent FactSet consensus. Sales rose 14.2% to $854.4 million from $748.2 million a year ago, ahead of the $769.0 million FactSet consensus. CEO Morris Goldfarb said the company is repositioning and expanding the Donna Karan brand and has a new long-term license with Authentic Brands Group for Nautica. That’s after it acquired the Karl Lagerfeld brand last year. The company is now expecting fiscal 2024 adjusted EPS of $2.55 to $2.65 on sales of about $3.23 billion. The FactSet consensus is for EPS of $3.22 and sales of $3.17 billion. The stock was down 2% premarket and has fallen 41% in the last 12 months, while the S&P 500 SPX has fallen 10.7%.
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