Barclays Sees Risks From Price Sensitive Consumers For G-III Apparel

• Barclays analyst Paul Kearney has reiterated an Equal Weight rating on the shares of G-III Apparel Group Ltd (NASDAQ: GIII) and reduced the price target from $22 to $18.

• The company’s second-quarter EPS of $0.39 missed the analyst consensus of $0.47.

• The retailer became the sole owner of clothing and accessories brand Karl Langerfeld brand by acquiring the remaining 81% stake for €200 million.

• Excluding the addition of Karl Langerfeld brand into 2H results, the analyst sees the potential for organic sales and margin pressure from an increasingly promotional retail environment.

• While GIII does not believe it needs to promote in the back half, Kearney sees risks should consumers become increasingly price sensitive.

• Price Action: GIII shares are trading higher by 3.61% at $18.65 on the last check Friday.

Latest Ratings for GIII

Date	Firm	Action	From	To
Jun 2021	Telsey Advisory Group	Maintains		Market Perform
Mar 2021	Keybanc	Maintains		Overweight
Dec 2020	Keybanc	Maintains		Overweight

View More Analyst Ratings for GIII

View the Latest Analyst Ratings

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