G-III Apparel Group Files Q1 2024 10-Q
Ticker: GIII · Form: 10-Q · Filed: Jun 6, 2024 · CIK: 821002
Sentiment: neutral
Topics: 10-Q, financials, equity
Related Tickers: GIII
TL;DR
GIII Q1 10-Q filed. Equity details updated. Check financials.
AI Summary
G-III Apparel Group, Ltd. filed its 10-Q for the period ending April 30, 2024. The company reported its financial position, including details on treasury stock, retained earnings, common stock, and additional paid-in capital as of April 30, 2024, and January 31, 2024. The filing also references operating lease assets and liabilities.
Why It Matters
This filing provides investors with an update on G-III Apparel Group's financial health and equity structure as of the end of the first quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 2024-04-30 — Reporting Period End (Financial data as of this date)
- 2024-01-31 — Previous Period End (Comparison point for financial data)
Key Players & Entities
- G III APPAREL GROUP LTD /DE/ (company) — Filer
- 20240430 (date) — Reporting period end date
- 20240606 (date) — Filing date
- 0000821002 (company) — Central Index Key
FAQ
What is the total amount of treasury stock held by G-III Apparel Group as of April 30, 2024?
The filing indicates treasury stock data for April 30, 2024, but the specific dollar amount is not provided in this excerpt.
How do retained earnings compare between January 31, 2024, and April 30, 2024?
The filing shows retained earnings for both January 31, 2024, and April 30, 2024, but the specific values are not detailed in this excerpt.
What is the company's fiscal year end date?
The company's fiscal year ends on January 31st.
What is the primary business of G-III Apparel Group?
G-III Apparel Group is in the business of manufacturing apparel and other finished products of fabrics and similar materials, as indicated by its SIC code [2300].
Does the filing mention any lease obligations?
Yes, the filing references operating lease right-of-use assets and current and non-current operating lease liabilities.
Filing Stats: 4,558 words · 18 min read · ~15 pages · Grade level 15.7 · Accepted 2024-06-06 16:26:46
Key Financial Figures
- $0.01 — nge on which registered Common Stock , $0.01 par value per share GIII The Nasdaq
- $0.1 — res of issuer's common stock, par value $0.1 per share, outstanding. Table of Conte
Filing Documents
- giii-20240430x10q.htm (10-Q) — 1286KB
- giii-20240430xex31d1.htm (EX-31.1) — 14KB
- giii-20240430xex31d2.htm (EX-31.2) — 13KB
- giii-20240430xex32d1.htm (EX-32.1) — 5KB
- giii-20240430xex32d2.htm (EX-32.2) — 5KB
- 0001558370-24-008959.txt ( ) — 6122KB
- giii-20240430.xsd (EX-101.SCH) — 36KB
- giii-20240430_cal.xml (EX-101.CAL) — 59KB
- giii-20240430_def.xml (EX-101.DEF) — 194KB
- giii-20240430_lab.xml (EX-101.LAB) — 285KB
- giii-20240430_pre.xml (EX-101.PRE) — 293KB
- giii-20240430x10q_htm.xml (XML) — 1056KB
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets – April 30, 2024 (Unaudited), April 30, 2023 (Unaudited) and January 31, 2024 3 Condensed Consolidated Statements of Income and Comprehensive (Loss) Income – For the Three Months Ended April 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity – April 30, 2024 and April 30, 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows – For the Three Months Ended April 30, 2024 and 2023 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.
Controls and Procedures
Controls and Procedures 29 Part II OTHER INFORMATION Item 1A.
Risk Factors
Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 5. Other Information 30 Item 6. Exhibits 31 7 2 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. G-III APPAREL GROUP, LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS April 30, April 30, January 31, 2024 2023 2024 (Unaudited) (Unaudited) (In thousands, except per share amounts) ASSETS Current assets Cash and cash equivalents $ 508,434 $ 289,729 $ 507,829 Accounts receivable, net of allowance for doubtful accounts of $ 1,195 , $ 18,832 and $ 1,471 , respectively 473,186 494,601 562,363 Inventories 479,671 630,308 520,426 Prepaid income taxes 19,080 7,692 1,356 Prepaid expenses and other current assets 68,143 69,432 68,344 Total current assets 1,548,514 1,491,762 1,660,318 Investments in unconsolidated affiliates 22,007 27,585 22,472 Property and equipment, net 60,588 53,157 55,084 Operating lease assets 209,199 237,056 216,886 Other assets, net 44,875 52,183 45,147 Other intangibles, net 29,653 34,131 31,676 Deferred income tax assets, net 25,581 26,389 19,248 Trademarks 624,982 632,220 630,333 Total assets $ 2,565,399 $ 2,554,483 $ 2,681,164 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Current portion of notes payable $ 23,664 $ 139,418 $ 15,026 Accounts payable 158,652 140,064 182,531 Accrued expenses 103,854 99,092 140,535 Customer refund liabilities 59,865 69,408 84,054 Current operating lease liabilities 55,990 51,024 56,587 Income tax payable 5,899 8,234 14,676 Other current liabilities 141 863 219 Total current liabilities 408,065 508,103 493,628 Notes payable, net of discount and unamortized issuance costs 402,687 403,586 402,807 Deferred income tax liabilities, net 48,152 45,561 42,736 Noncurrent operating lease liabilities 168,462 202,406 178,247 Other noncurrent liabilities 20,686 15,325 15,764 Total liabilities 1,048,052 1,174,981 1,133,182