The EPS beat and guidance raise are positive, but the 10% revenue decline and near-term acquisition dilution create a mixed picture. Watch Q3 earnings for initial Marc Jacobs revenue contribution and integration progress; the stock may trade on the guidance raise vs the revenue headwind. The 50/50 JV structure with WHP Global limits G-III's upside from the brand's growth but also caps downside.
Price Chart
Executive Summary
G-III Apparel Group completed its acquisition of the Marc Jacobs brand from LVMH on September 1, 2026, funding the ~$500 million investment with cash and revolver borrowings, and simultaneously reported Q2 FY2027 results that beat EPS consensus ($0.26 vs $0.23) but missed revenue ($554.1M vs $570.4M) due to a 10% YoY decline from the loss of Calvin Klein/Tommy Hilfiger sales. The company raised its full-year GAAP EPS guidance to $4.10-$4.20 (from $3.85-$3.95) and non-GAAP to $2.20-$2.30, while noting the Marc Jacobs acquisition will be slightly dilutive in FY2027.
Key Financial Metrics
Key Facts
- Marc Jacobs acquisition closed September 1, 2026; G-III invested ~$500M in cash and revolver borrowings
- G-III owns 50% of IPCo joint venture with WHP Global; acquired Marc Jacobs operating business under long-term license
- Q2 FY2027 net sales $554.1M, down 10% YoY from $613.3M; consensus $570.4M (miss of 2.9%)
- GAAP diluted EPS $0.46 vs $0.25 YoY; non-GAAP diluted EPS $0.26 vs $0.25 YoY; consensus $0.23 (beat of 13%)
- FY2027 GAAP EPS guidance raised to $4.10-$4.20 (from $3.85-$3.95); non-GAAP raised to $2.20-$2.30 (from $2.15-$2.25)
- Go-forward portfolio (excluding Calvin Klein/Tommy Hilfiger) grew high-single digits in Q2
- Marc Jacobs acquisition expected to be slightly dilutive in FY2027; targets $1B long-term annual revenue
Financial Impact
~$500M acquisition investment; Q2 EPS beat of $0.03 vs consensus; FY2027 GAAP EPS guidance raised by ~$0.25 at midpoint
Risk Factors
- Marc Jacobs acquisition dilutive in FY2027; integration and revenue targets uncertain
- Continued revenue decline from loss of Calvin Klein/Tommy Hilfiger licenses (~$460M expected FY2027 sales loss)
- Tariff exposure and macroeconomic headwinds in apparel retail
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000950142-26-002481 |
| Document: eh260826006_ex9901.htm | 0000950142-26-002481 |
| Document: eh260826006_8k.htm | 0000950142-26-002481 |
| Document: eh260826006_ex9902.htm | 0000950142-26-002481 |
| Document: 0000950142-26-002481-index-headers.html | 0000950142-26-002481 |
| Document: 0000950142-26-002481-index.html | 0000950142-26-002481 |
| Document: 0000950142-26-002481.txt | 0000950142-26-002481 |
| 8-K Data (Synthetic) | 0000950142-26-002481 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 5w ago | Insider Buy | $28.17 $26.94 | ▼ −4.37% | ▼ −6.19% | $29.77 (+5.68%) |
Sep 2, 2026 7w ago | 8-K | $28.47 $27.67 | ▼ −2.81% | ▼ −1.85% | $29.77 (+4.57%) |
Sep 1, 2026 7w ago | Press Release | $28.47 $27.67 | ▼ −2.81% | ▼ −1.85% | $29.77 (+4.57%) |
Aug 20, 2026 9w ago | 8-K | $33.18 $33.35 | ▲ +0.51% | ▼ −0.60% | $29.77 (−10.28%) |
Jun 5, 2026 20w ago | 8-K | $33.71 $35.28 | ▲ +4.66% | ▲ +4.09% | $29.77 (−11.69%) |
Jun 5, 2026 20w ago | Press Release | $33.71 $35.28 | ▲ +4.66% | ▲ +4.09% | $29.77 (−11.69%) |
May 14, 2026 23w ago | Press Release | $28.73 $30.82 | ▲ +7.27% | ▲ +6.31% | $29.77 (+3.62%) |
Mar 13, 2026 32w ago | 8-K | $26.28 $26.54 | ▲ +0.99% | ▲ +3.10% | $29.77 (+13.28%) |
Mar 13, 2026 32w ago | Press Release | $26.28 $26.54 | ▲ +0.99% | ▲ +3.10% | $29.77 (+13.28%) |
Mar 12, 2026 32w ago | 8-K | $26.09 $26.95 | ▲ +3.28% | ▲ +4.26% | $29.77 (+14.10%) |
US Market Status
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