G-III Apparel Group, Ltd. (GIII) swung to a net loss for the quarter ended Apr. 30, 2017. The company has made a net loss of $10.39 million, or $ 0.21 a share in the quarter, against a net profit of $2.77 million, or $0.06 a share in the last year period.

Revenue during the quarter grew 15.66 percent to $529.04 million from $457.40 million in the previous year period. Gross margin for the quarter expanded 194 basis points over the previous year period to 38.16 percent. Operating margin for the quarter stood at negative 1.02 percent as compared to a positive 1.17 percent for the previous year period.

Operating loss for the quarter was $5.39 million, compared with an operating income of $5.37 million in the previous year period.

Morris Goldfarb, G-III's chairman and chief executive officer, said, "Our wholesale business continues its strong growth and demonstrates the power of our brand portfolio to transcend a difficult market environment and retain a leadership position as one of the most high-performing vendors for our retail customers. Offsetting our strong wholesale performance were the previously forecasted losses with respect to our own retail stores and the development of the Donna Karan business." Mr. Goldfarb continued, "We are reducing operating costs in our retail business, closing and repurposing stores and enhancing our store product offerings, all which are intended to help us significantly reduce the losses in our retail operations." Mr. Goldfarb concluded, "We are approaching an inflection point for the Donna Karan business where our efforts are expected to yield profitable results for this business in the second half of this fiscal year. Overall, we believe that we are in a renewed position to drive higher levels of growth, investment returns and value to customers, consumers and shareholders."

For the second-quarter 2018, G-III Apparel Group, Ltd. expects revenue to be $520 million. The company expects net loss to be in the range of $15 million to $20 million and forecasts adjusted net loss to be in the range of $12 million to $17 million. It forecasts diluted loss per share to be in the range of $0.30 to $0.40. On an adjusted basis, the company forecasts diluted loss per share to be in the range of $0.24 to $0.34.

For fiscal year 2018, G-III Apparel Group, Ltd. expects revenue to be $2,760 million. The comapny expects net income to be in the range of $52 million to $57 million and forecasts adjusted net income to be in the range of $60 million to $65 million. It forecasts diluted earnings per share to be in the range of $1.04 to $1.14 abd forecasts diluted earnings per share to be in the range of $1.20 to $1.30 on adjusted basis.