Despite management's optimism about owned brands and cost savings, the structural revenue decline from losing PVH licenses is material and ongoing. The modest EPS recovery in fiscal 2027 is not enough to offset deteriorating fundamentals. Traders should watch for execution risks in the cost savings plan and whether owned brand growth can truly offset wholesale losses. Downgrade risk exists if Q1 results miss the projected $530M sales or $-0.40 to -0.30 EPS loss.
Price Chart
Executive Summary
G-III reported fiscal 2026 net sales of $2.96 billion, down 7% YoY, driven by the loss of $254 million in PVH brand sales (Calvin Klein, Tommy Hilfiger), though key owned brands grew mid-single digits. Full-year EPS was $1.51 (GAAP) and $2.61 (non-GAAP), a significant decline from prior year. The company expects fiscal 2027 sales to drop further to ~$2.71 billion due to the full-year impact of exiting PVH brands, but forecasts improved EPS of $2.00–$2.10 (non-GAAP) on cost savings and margin expansion. A $25 million cost reduction initiative is underway.
Key Financial Metrics
Key Facts
- Fiscal 2026 net sales: $2.96 billion, down 7% YoY from $3.18 billion
- PVH brand exits (Calvin Klein, Tommy Hilfiger) caused $254 million in lost sales in fiscal 2026; expected to cause $470 million loss in fiscal 2027
- GAAP EPS: $1.51 in fiscal 2026 vs. $4.20 in prior year; includes $1.04 per share in asset impairments and $0.30 from Saks Global bad debt
- Non-GAAP EPS: $2.61 in fiscal 2026 vs. $4.42 in prior year
- Fiscal 2027 outlook: sales ~$2.71 billion (down from $2.96B), non-GAAP EPS $2.00–$2.10
- Adjusted EBITDA expected to decline to $158M–$162M in fiscal 2027 from $192.4M in fiscal 2026
- Company initiated $25 million run-rate cost savings program targeting fiscal 2028
Financial Impact
Revenue decline of $470 million expected in fiscal 2027 due to PVH brand exits; non-GAAP EPS expected to improve to $2.00–$2.10 despite lower sales, implying margin and cost improvements. Adjusted EBITDA to decline by ~16% YoY.
Risk Factors
- Continued revenue erosion from loss of licensed brands with no clear replacement at scale
- Execution risk in $25M cost savings initiative; benefits not expected until fiscal 2028
- Bad debt exposure from Saks Global bankruptcy ($17.5M recognized) may indicate broader retail credit risk
- Guidance shows declining adjusted EBITDA despite EPS improvement, suggesting non-operational fixes (e.g., tax, share count)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3254455 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 5w ago | Insider Buy | $28.17 $26.94 | ▼ −4.37% | ▼ −6.19% | $29.65 (+5.25%) |
Sep 2, 2026 7w ago | 8-K | $28.47 $27.67 | ▼ −2.81% | ▼ −1.85% | $29.65 (+4.14%) |
Sep 1, 2026 7w ago | Press Release | $28.47 $27.67 | ▼ −2.81% | ▼ −1.85% | $29.65 (+4.14%) |
Aug 20, 2026 9w ago | 8-K | $33.18 $33.35 | ▲ +0.51% | ▼ −0.60% | $29.65 (−10.64%) |
Jun 5, 2026 20w ago | 8-K | $33.71 $35.28 | ▲ +4.66% | ▲ +4.09% | $29.65 (−12.04%) |
Jun 5, 2026 20w ago | Press Release | $33.71 $35.28 | ▲ +4.66% | ▲ +4.09% | $29.65 (−12.04%) |
May 14, 2026 23w ago | Press Release | $28.73 $30.82 | ▲ +7.27% | ▲ +6.31% | $29.65 (+3.20%) |
Mar 13, 2026 32w ago | 8-K | $26.28 $26.54 | ▲ +0.99% | ▲ +3.10% | $29.65 (+12.82%) |
Mar 13, 2026 32w ago | Press Release | $26.28 $26.54 | ▲ +0.99% | ▲ +3.10% | $29.65 (+12.82%) |
Mar 12, 2026 32w ago | 8-K | $26.09 $26.95 | ▲ +3.28% | ▲ +4.26% | $29.65 (+13.64%) |
US Market Status
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