G-III Apparel Group Q2 Financials Detailed

TL;DR

**GIII Q2 financials out: Equity breakdown shows solid backing.**

AI Summary

G-III Apparel Group, Ltd. reported its second quarter results for the period ending July 31, 2024. The company's financial statements show various equity accounts, including common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income. Specific dollar amounts for these accounts as of July 31, 2024, are detailed within the filing.

Why It Matters

This filing provides a detailed look at G-III Apparel Group's financial health and equity structure as of the second quarter of fiscal year 2024, which is crucial for investors assessing the company's stability and value.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report detailing financial positions and does not indicate immediate or significant risks.

Key Numbers

• 2024-07-31 — Reporting Period End Date (Indicates the specific date for which financial data is presented.)
• 2024-01-31 — Previous Fiscal Year End (Provides a point of comparison for financial trends.)
• 2023-07-31 — Prior Year Q2 End Date (Allows for year-over-year comparison of financial performance.)

Key Players & Entities

• G III APPAREL GROUP LTD /DE/ (company) — Filer of the 10-Q report
• 20240731 (date) — End of the reporting period
• 20240906 (date) — Filing date of the report
• 512 SEVENTH AVE (location) — Company's business and mailing address
• NEW YORK (location) — Company's business and mailing city
• 10018 (location) — Company's business and mailing zip code

FAQ

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-20240731x10q.htm (10-Q) — 1626KB
• giii-20240731xex31d1.htm (EX-31.1) — 14KB
• giii-20240731xex31d2.htm (EX-31.2) — 13KB
• giii-20240731xex32d1.htm (EX-32.1) — 5KB
• giii-20240731xex32d2.htm (EX-32.2) — 5KB
• 0001558370-24-012652.txt ( ) — 7051KB
• giii-20240731.xsd (EX-101.SCH) — 38KB
• giii-20240731_cal.xml (EX-101.CAL) — 60KB
• giii-20240731_def.xml (EX-101.DEF) — 193KB
• giii-20240731_lab.xml (EX-101.LAB) — 304KB
• giii-20240731_pre.xml (EX-101.PRE) — 298KB
• giii-20240731x10q_htm.xml (XML) — 1339KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets – July 31, 2024 (Unaudited), July 31, 2023 (Unaudited) and January 31, 2024 3 Condensed Consolidated Statements of Income and Comprehensive Income – For the Three and Six Months Ended July 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity – July 31, 2024 and July 31, 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows – For the Six Months Ended July 31, 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 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31 Part II OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 5. Other Information 33 Item 6. Exhibits 34 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 July 31, July 31, January 31, 2024 2023 2024 (Unaudited) (Unaudited) (In thousands, except per share amounts) ASSETS Current assets Cash and cash equivalents $ 414,791 $ 197,735 $ 507,829 Accounts receivable, net of allowance for doubtful accounts of $ 1,260 , $ 18,491 and $ 1,471 , respectively 477,465 519,361 562,363 Inventories 610,492 804,858 520,426 Prepaid income taxes 11,729 8,588 1,356 Prepaid expenses and other current assets 79,581 72,143 68,344 Total current assets 1,594,058 1,602,685 1,660,318 Investments in unconsolidated affiliates 21,676 27,089 22,472 Property and equipment, net 66,608 53,791 55,084 Operating lease assets 204,008 229,723 216,886 Other assets, net 131,564 56,051 45,147 Other intangibles, net 28,664 33,613 31,676 Deferred income tax assets, net 26,185 26,432 19,248 Trademarks 623,524 632,669 630,333 Total assets $ 2,696,287 $ 2,662,053 $ 2,681,164 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Current portion of notes payable $ 11,427 $ 62,732 $ 15,026 Accounts payable 289,771 294,287 182,531 Accrued expenses 132,523 146,933 140,535 Customer refund liabilities 52,489 56,223 84,054 Current operating lease liabilities 54,983 54,563 56,587 Income tax payable 4,478 8,844 14,676 Other current liabilities 734 430 219 Total current liabilities 546,405 624,012 493,628 Notes payable, net of discount and unamortized issuance costs 402,541 403,304 402,807 Deferred income tax liabilities, net 48,327 45,858 42,736 Noncurrent operating lease liabilities 163,750 192,981 178,247 Other noncurrent liabilities 22,629 14,929 15,764 Total liabilities 1,183,652 1,281,084 1,133,182

View Full Filing

View this 10-Q filing on SEC EDGAR