Why G-III Apparel Group, Ltd. Shares Jumped 16% Higher Today
Shares of G-III Apparel Group (NASDAQ: GIII) skyrocketed as much as 16.2% higher Tuesday morning, reaching that pinnacle just before 10 a.m., Eastern time. The maker and distributor of branded clothing reported third-quarter results before the opening bell, and it was a classic beat-and-raise performance.
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G-III's revenues rose 15% year over year, landing at $1.02 billion and slightly below the $1.03 billion analyst consensus. On the bottom line, adjusted earnings increased by 11% to $1.67 per share. Here, analysts would have settled for $1.54 per share.
Source: Fool.com