The headline GAAP beat is entirely driven by a one-time tariff refund — strip that out and the underlying business shows revenue declining 8% with negative non-GAAP EPS. The Marc Jacobs acquisition is a positive long-term catalyst but adds execution risk and near-term costs. Watch for Q2 guidance ($0.15-$0.25 EPS vs $0.25 last year) and the pace of Calvin Klein/Tommy Hilfiger sales transition.
Price Chart
Executive Summary
G-III reported Q1 FY2027 GAAP EPS of $1.50, massively beating consensus of -$0.30, but this includes a $1.75/share one-time tariff refund benefit. Non-GAAP EPS was -$0.21, ahead of guidance but still negative. Net sales fell 8% YoY to $536M, and the company raised FY2027 GAAP EPS guidance to $3.85-$3.95 while lowering non-GAAP EPS guidance to $2.15-$2.25 from $2.61. The Marc Jacobs acquisition was announced as a transformative catalyst.
Key Financial Metrics
Key Facts
- Q1 GAAP EPS $1.50 vs consensus -$0.30 (200% beat), but includes $1.75/share IEEPA tariff refund benefit
- Non-GAAP EPS -$0.21 vs $0.19 last year, ahead of guidance but still a net loss
- Net sales $536M, down 8% YoY from $583.6M, reflecting loss of Calvin Klein/Tommy Hilfiger sales
- GAAP gross margin surged to 64.9% from 42.2% due to $102.7M tariff refund; adjusted gross margin improved 350bps to 45.7%
- Raised FY2027 GAAP EPS guidance to $3.85-$3.95 from $1.51 prior year, but non-GAAP EPS guidance lowered to $2.15-$2.25 from $2.61
- Announced acquisition of Marc Jacobs brand in partnership with WHP Global
- Cash and equivalents $394.2M, up 53% YoY; inventories down 8% to $417.9M
Financial Impact
Q1 GAAP EPS $1.50 vs consensus -$0.30; non-GAAP EPS -$0.21 vs $0.19 prior year; revenue $536M vs consensus $529.9M; FY2027 GAAP EPS guidance raised to $3.85-$3.95
Risk Factors
- Core revenue declining 8% YoY with $470M of Calvin Klein/Tommy Hilfiger sales phasing out
- Non-GAAP EPS turned negative (-$0.21) vs positive $0.19 last year
- Marc Jacobs acquisition adds integration risk and $3.4M in transaction costs already incurred
- FY2027 non-GAAP EPS guidance lowered to $2.15-$2.25 from $2.61, indicating margin pressure
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3307299 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 5w ago | Insider Buy | $28.17 $26.94 | ▼ −4.37% | ▼ −6.19% | $29.82 (+5.86%) |
Sep 2, 2026 7w ago | 8-K | $28.47 $27.67 | ▼ −2.81% | ▼ −1.85% | $29.82 (+4.74%) |
Sep 1, 2026 7w ago | Press Release | $28.47 $27.67 | ▼ −2.81% | ▼ −1.85% | $29.82 (+4.74%) |
Aug 20, 2026 9w ago | 8-K | $33.18 $33.35 | ▲ +0.51% | ▼ −0.60% | $29.82 (−10.13%) |
Jun 5, 2026 20w ago | 8-K | $33.71 $35.28 | ▲ +4.66% | ▲ +4.09% | $29.82 (−11.54%) |
Jun 5, 2026 20w ago | Press Release | $33.71 $35.28 | ▲ +4.66% | ▲ +4.09% | $29.82 (−11.54%) |
May 14, 2026 23w ago | Press Release | $28.73 $30.82 | ▲ +7.27% | ▲ +6.31% | $29.82 (+3.79%) |
Mar 13, 2026 32w ago | 8-K | $26.28 $26.54 | ▲ +0.99% | ▲ +3.10% | $29.82 (+13.47%) |
Mar 13, 2026 32w ago | Press Release | $26.28 $26.54 | ▲ +0.99% | ▲ +3.10% | $29.82 (+13.47%) |
Mar 12, 2026 32w ago | 8-K | $26.09 $26.95 | ▲ +3.28% | ▲ +4.26% | $29.82 (+14.29%) |
US Market Status
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