# G III APPAREL GROUP LTD /DE/ (GIII) Informational only - not investment advice. CIK: 0000821002 SIC: 2300 Apparel & Other Finishd Prods of Fabrics & Similar Matl SIC breadcrumb: [Manufacturing](/division/D/) > [SIC Major Group 23](/major-group/23/) > [SIC 2300 Apparel & Other Finishd Prods of Fabrics & Similar Matl](/industry/2300/) Latest 10-K filed: 2026-03-24 SEC page: https://www.sec.gov/edgar/browse/?CIK=821002 Filing source: https://www.sec.gov/Archives/edgar/data/821002/000110465926033891/giii-20260131x10k.htm ## At a glance FY2026 · period end 2026-01-31 · filed 2026-03-24 · accession 0001104659-26-033891 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000821002.json | Metric | Value | FY | Provenance | | --- | ---: | ---: | --- | | Revenue | 2,957,012,000 USD | 2026 | verified | | Net income | 67,353,000 USD | 2026 | verified | | Assets | 2,610,820,000 USD | 2026 | verified | | Free cash flow | 263,923,000 USD | 2026 | computed | | Net margin | 2.28% | 2026 | computed | | Operating margin | 3.65% | 2026 | computed | | Revenue YoY | -7.04% | 2026 | computed | | ROE | 3.83% | 2026 | computed | Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2026 revenue ÷ FY2025 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity. No market price, no rating, no forecast on this site. Not investment advice. ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 2957012000 | USD | 2026 | 2026-03-24 | | Net income | 67353000 | USD | 2026 | 2026-03-24 | | Assets | 2610820000 | USD | 2026 | 2026-03-24 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-24. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000821002.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts. | Metric | 2012 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | | 2,386,435,000 | 2,806,938,000 | 3,076,208,000 | 3,160,464,000 | 2,055,146,000 | 2,766,538,000 | 3,226,728,000 | 3,098,242,000 | 3,180,796,000 | 2,957,012,000 | | Net income | | 51,938,000 | 62,124,000 | 138,067,000 | 143,837,000 | 23,545,000 | 200,593,000 | -133,061,000 | 176,168,000 | 193,566,000 | 67,353,000 | | Operating income | | 93,931,000 | 153,825,000 | 230,714,000 | 227,654,000 | 82,842,000 | 311,093,000 | -109,462,000 | 283,343,000 | 293,075,000 | 107,986,000 | | Gross profit | | 841,328,000 | 1,054,739,000 | 1,107,109,000 | 1,117,940,000 | 744,442,000 | 988,189,000 | 1,101,137,000 | 1,241,847,000 | 1,298,526,000 | 1,164,029,000 | | Diluted EPS | | 1.10 | 1.25 | 2.75 | 2.94 | 0.48 | 4.05 | -2.79 | 3.75 | 4.20 | 1.51 | | Operating cash flow | | 105,695,000 | 79,734,000 | 103,829,000 | 209,021,000 | 74,758,000 | 185,798,000 | -104,599,000 | 587,582,000 | 316,401,000 | 299,144,000 | | Capital expenditures | | 24,928,000 | 34,507,000 | 29,205,000 | 37,990,000 | 16,035,000 | 18,261,000 | 21,528,000 | 24,679,000 | 41,517,000 | 35,221,000 | | Dividends paid | | | | | | | | | | | 4,219,000 | | Share buybacks | 2,929,000 | | | 20,311,000 | 35,216,000 | | 17,300,000 | 26,949,000 | 26,100,000 | 59,973,000 | 49,770,000 | | Assets | | 1,851,944,000 | 1,915,177,000 | 2,208,058,000 | 2,565,137,000 | 2,436,386,000 | 2,742,528,000 | 2,712,405,000 | 2,681,164,000 | 2,483,234,000 | 2,610,820,000 | | Liabilities | | 830,708,000 | 794,488,000 | 1,019,049,000 | 1,274,465,000 | 1,099,181,000 | 1,222,145,000 | 1,327,807,000 | 1,133,182,000 | 803,753,000 | 850,497,000 | | Stockholders' equity | | 1,021,236,000 | 1,120,689,000 | 1,189,009,000 | 1,290,672,000 | 1,336,241,000 | 1,519,912,000 | 1,385,448,000 | 1,550,260,000 | 1,679,481,000 | 1,760,323,000 | | Cash and cash equivalents | | 79,957,000 | 45,776,000 | 70,138,000 | 197,372,000 | 351,934,000 | 465,984,000 | 191,652,000 | 507,829,000 | 181,440,000 | 406,662,000 | | Free cash flow | | 80,767,000 | 45,227,000 | 74,624,000 | 171,031,000 | 58,723,000 | 167,537,000 | -126,127,000 | 562,903,000 | 274,884,000 | 263,923,000 | ### Ratios ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported. | Metric | 2012 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Net margin | | 2.18% | 2.21% | 4.49% | 4.55% | 1.15% | 7.25% | -4.12% | 5.69% | 6.09% | 2.28% | | Operating margin | | 3.94% | 5.48% | 7.50% | 7.20% | 4.03% | 11.24% | -3.39% | 9.15% | 9.21% | 3.65% | | Return on equity | | 5.09% | 5.54% | 11.61% | 11.14% | 1.76% | 13.20% | -9.60% | 11.36% | 11.53% | 3.83% | | Return on assets | | 2.80% | 3.24% | 6.25% | 5.61% | 0.97% | 7.31% | -4.91% | 6.57% | 7.79% | 2.58% | | Liabilities / equity | | 0.81 | 0.71 | 0.86 | 0.99 | 0.82 | 0.80 | 0.96 | 0.73 | 0.48 | 0.48 | | Current ratio | | 2.80 | 2.76 | 2.16 | 2.23 | 3.34 | 3.24 | 2.85 | 3.36 | 2.62 | 2.69 | ## As-reported value updates No tracked differences above grepcent's stated thresholds and capped precision rule were found between the earliest XBRL-filed value and the value currently on file for the standardized annual metrics grepcent tracks. ## Quarterly Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-06-08. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000821002.json. Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived. | Quarter | End date | Revenue | Net income | Diluted EPS | Method | | --- | --- | ---: | ---: | ---: | --- | | 2022-Q2 | 2022-07-31 | | | 0.74 | reported discrete quarter | | 2022-Q3 | 2022-10-31 | | | 1.26 | reported discrete quarter | | 2023-Q1 | 2023-04-30 | | | 0.07 | reported discrete quarter | | 2023-Q2 | 2023-07-31 | 659,761,000 | 16,438,000 | 0.35 | reported discrete quarter | | 2023-Q3 | 2023-10-31 | 1,067,110,000 | 127,640,000 | 2.74 | reported discrete quarter | | 2023-Q4 | 2024-01-31 | 764,782,000 | 28,854,000 | | derived Q4 = FY annual - nine-month YTD | | 2024-Q1 | 2024-04-30 | 609,747,000 | 5,802,000 | 0.12 | reported discrete quarter | | 2024-Q2 | 2024-07-31 | 644,755,000 | 24,212,000 | 0.53 | reported discrete quarter | | 2024-Q3 | 2024-10-31 | 1,086,759,000 | 114,768,000 | 2.55 | reported discrete quarter | | 2024-Q4 | 2025-01-31 | 839,535,000 | 48,784,000 | | derived Q4 = FY annual - nine-month YTD | | 2025-Q1 | 2025-04-30 | 583,609,000 | 7,759,000 | 0.17 | reported discrete quarter | | 2025-Q2 | 2025-07-31 | 613,266,000 | 10,939,000 | 0.25 | reported discrete quarter | | 2025-Q3 | 2025-10-31 | 988,649,000 | 80,593,000 | 1.84 | reported discrete quarter | | 2025-Q4 | 2026-01-31 | 771,488,000 | -31,938,000 | | derived Q4 = FY annual - nine-month YTD | | 2026-Q1 | 2026-04-30 | 535,962,000 | 66,534,000 | 1.50 | reported discrete quarter | ## Filed narrative (10-K & 10-Q) ## Business Verbatim Item 1 Business section from GIII's latest 10-K: [/company/GIII/business/](/company/GIII/business/). ## Risk Factors Verbatim Item 1A Risk Factors from GIII's latest 10-K: [/company/GIII/risk-factors/](/company/GIII/risk-factors/). ## Latest quarter (10-Q) Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/821002/000110465926071371/giii-20260430x10q.htm Extracted structurally from real Item 2 body heading to real Item 3/4 boundary. Confidence: high Filing date: 2026-06-08 Report date: 2026-04-30 Item 2.         Management’s Discussion and Analysis of Financial Condition and Results of Operations. Unless the context otherwise requires, “G-III,” “us,” “we” and “our” refer to G-III Apparel Group, Ltd. and its subsidiaries. References to fiscal years refer to the year ended or ending on January 31 of that year. For example, our fiscal year ending January 31, 2027 is referred to as “fiscal 2027.” ​ Each of Vilebrequin, KLH, certain other subsidiaries and AWWG Investments B.V. (“AWWG”), an 18.7% owned investment accounted for under the equity method of accounting, report results on a calendar year basis rather than on the January 31 fiscal year basis used by G-III. Accordingly, the results of Vilebrequin, KLH, certain other subsidiaries and AWWG are included in the financial statements for the quarter ended or ending closest to G-III’s fiscal quarter end. For example, with respect to our results for the three-month period ended April 30, 2026, the results of Vilebrequin, KLH, certain other subsidiaries and AWWG are included for the three-month period ended March 31, 2026. Our retail operations segment reports on a 52/53 week fiscal year. For fiscal 2027 and 2026, the three-month periods for the retail operations segment were each 13-week periods and ended on May 2, 2026 and May 3, 2025, respectively. ​ Various statements contained in this Quarterly Report on Form 10-Q, in future filings by us with the SEC in our press releases and in oral statements made from time to time by us or on our behalf constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and are indicated by words or phrases such as “anticipate,” “estimate,” “expect,” “will,” “project,” “believe,” “envision,” “forecast” and similar words or phrases and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements also include representations of our expectations or beliefs concerning future events that involve risks and uncertainties, including, but not limited to, the following: ​ [[GREPCENT_TABLE]] [["","\u25cf","the failure to maintain or renew our material license agreements could cause us to lose significant revenues and have a material adverse effect on our results of operations;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our dependence on the strategies and reputation of our licensors;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","risks associated with our wholesale operations including risks relating to the image of our proprietary brands and business practices of our customers;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our use of social media and our collaborations with influencers;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","risks associated with customers changing buying patterns, requesting additional allowances, developing private-label brands, or entering exclusive agreements with national brand manufacturers;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our significant customer concentration, and the risk that the loss of one of our largest customers could adversely affect our business;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","risks relating to our retail operations segment;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","dependence on existing management;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to make strategic acquisitions and investments and possible disruptions from acquisitions, including our recent formation of a joint venture to acquire Marc Jacobs Holdings, LLC, and the risks associated with our ability to maintain an effective internal control environment;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","risks relating to our pending acquisition of Marc Jacobs Holdings, LLC, including risks related to the possibility that the acquisition does not close, our ability to transition the Marc Jacobs business and to realize the benefits of the acquisition on a timely basis, the expenses related to the acquisition, and our ability to operate the Marc Jacobs business being dependent on a license agreement that is terminable under certain circumstances;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","seasonal nature of our business and effect of unseasonable or extreme weather on our business;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","possible adverse effects from disruptions to the worldwide supply chain;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","price, availability and quality of materials used in our products;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the need to protect our trademarks and other intellectual property;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","risk that our partners may not generate expected sales or maintain the value of our brands;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the impact of the current economic and credit environment on us, our customers, suppliers and vendors, including without limitation, the effects of inflationary cost pressures and higher interest rates;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","consolidation, bankruptcy or liquidation of major department, mass merchant and specialty store chains;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","effects of war, acts of terrorism, natural disasters or public health crises could adversely affect our business and results of operations, including the conflicts in Ukraine and the Middle East;"]] [[/GREPCENT_TABLE]] 19 Table of Contents [[GREPCENT_TABLE]] [["","\u25cf","our ability to anticipate and respond to changing customer preferences and shifts in fashion and industry trends in a timely manner;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our dependence on foreign manufacturers and arrangements with them, exposing us to potential import restrictions, duties and tariffs;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","risks of expansion into foreign markets, conducting business internationally and exposures to foreign currencies;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","risks associated with evolving privacy laws that impose additional limits on how we collect or use customer information;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to comply with rules relating to the processing of credit card payments;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","possible adverse effects of data security or privacy breaches;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","risks related to use of artificial intelligence;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in trade policies and tariffs imposed by the United States government and the governments of other nations;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the impact on our business of the imposition of tariffs by the United States government and the escalation of trade tensions between countries;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in tax legislation or exposure to additional tax liabilities that could impact our business;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the effect of regulations applicable to us as a U.S. public company;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","fluctuations in the price of our common stock;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","potential effect on the price of our stock if actual results are worse than financial forecasts or if we are unable to provide financial forecasts;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","impairment of our trademarks or other intangibles may require us to record charges against earnings;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to pay dividends on our common stock;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the impact our indebtedness may have on our financial condition and our ability to obtain financing in the future; and"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the operating and financial restrictions related to our ABL credit agreement that may limit our current and future operating flexibility."]] [[/GREPCENT_TABLE]] ​ Any forward-looking statements are based largely on our expectations and judgments and are subject to a number of risks and uncertainties, many of which are unforeseeable and beyond our control. A detailed discussion of significant risk factors that have the potential to cause our actual results to differ materially from our expectations is described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended January 31, 2026. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. ​ Overview ​ G-III is a global leader in fashion with expertise in design, sourcing, distribution and marketing, which enables us to fuel growth across a portfolio of over 30 globally recognized owned and licensed brands, anchored by our key owned brands, DKNY, Donna Karan, Karl Lagerfeld and Vilebrequin. We develop products across a diverse range of lifestyle categories which include outerwear, dresses, sportswear, suit separates, athleisure, jeans, swimwear, as well as handbags, footwear, small leather goods, cold weather accessories and luggage. Our brands are positioned to sell at various price points with global distribution across a diverse mix of channels and geographies to reach a broad range of consumers. ​ Our owned brands include DKNY, Donna Karan, Karl Lagerfeld, Vilebrequin, Eliza J, Jessica Howard, Andrew Marc, G.H. Bass, Wilsons Leather and Sonia Rykiel. We have an extensive portfolio of well-known licensed brands, including Calvin Klein, Tommy Hilfiger, BCBG, Converse, French Connection, Halston, Levi’s, Champion, Nautica, Starter and major national sports leagues, among others. Through our licensed team sports business, we have partnerships with the National Football League, National Basketball Association, Major League Baseball, National Hockey League and over 150 U.S. colleges and universities. We also source and sell products to major retailers for their own private label programs. ​ Our products are sold through a cross section of leading retailers such as Macy’s, Bloomingdale’s, Dillard’s, Nordstrom, El Cortes Ingles, Kohl’s, TJ Maxx, Marshall’s, Ross Stores, Burlington and Costco. We also sell our products using digital channels through retail partners such as macys.com, bloomingdales.com, nordstrom.com and dillards.com, each of which operates significant digital businesses. In addition, we sell to leading online retail partners such as Amazon, Fanatics, Zalando and Zappos. ​ 20 Table of Contents We also distribute apparel and other products directly to consumers through our own DKNY, Karl Lagerfeld, Karl Lagerfeld Paris and Vilebrequin retail stores, as well as through our digital sites for our DKNY, Donna Karan, Karl Lagerfeld, Karl Lagerfeld Paris, Vilebrequin and Wilsons Leather brands. ​ We operate in fashion markets that are intensely competitive. Our ability to continuously evaluate and respond to changing consumer demands and tastes, across multiple market segments, distribution channels and geographic areas is critical to our success. Although our portfolio of brands is aimed at diversifying our risks in this regard, misjudging shifts in consumer preferences could have a negative effect on our business. Our continued success depends o [Excerpt truncated for page length; source filing is linked above.] ## Latest 10-K MD&A (excerpt) Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/821002/000110465926033891/giii-20260131x10k.htm Complete FY 2026 MD&A: /company/GIII/mda/fy2026/ Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Confidence: high Filing date: 2026-03-24 Report date: 2026-01-31 ITEM 7.     MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION. ​ Unless the context otherwise requires, “G-III,” “Company,” “us,” “we” and “our” refer to G-III Apparel Group, Ltd. and its subsidiaries. References to fiscal years refer to the year ended or ending on January 31 of that year. For example, our fiscal year ending January 31, 2026 is referred to as “fiscal 2026.” ​ We consolidate the accounts of all of our wholly-owned and majority-owned subsidiaries. Fabco Holding B.V. (“Fabco”), a Dutch joint venture limited liability company, was 75% owned by us through April 16, 2024 and was treated as a consolidated majority-owned subsidiary. Effective April 17, 2024, we acquired the remaining 25% interest in Fabco that we did not previously own and, as a result, Fabco began being treated as a wholly-owned subsidiary. AWWG Investments B.V. (“AWWG”) is a Dutch corporation that was 12.1% owned by us from May 3, 2024 through July 18, 2024 and was accounted for using the cost method of accounting. Effective July 19, 2024, we acquired an additional 6.6% minority interest in AWWG, increasing our total ownership interest to 18.7% and, as a result, AWWG began being accounted for under the equity method of accounting. All material intercompany balances and transactions have been eliminated. ​ Karl Lagerfeld Holding B.V. (“KLH”), a Dutch limited liability company that is wholly-owned by us, Vilebrequin International SA (“Vilebrequin”), a Swiss corporation that is wholly-owned by us, certain other subsidiaries and AWWG report results on a calendar year basis rather than on the January 31 fiscal year basis used by G-III. Accordingly, the results of KLH, Vilebrequin, certain other subsidiaries and AWWG are and will be included in our financial statements for the year ended or ending closest to G-III’s fiscal year. For example, for G-III’s fiscal year ended January 31, 2026, the results of KLH, Vilebrequin, certain other subsidiaries and AWWG are included for the year ended December 31, 2025. Our retail operations segment uses a 52/53-week fiscal year. Our fiscal years ended January 31, 2026 and 2025 were both 52-week fiscal years for the retail operations segment. Our fiscal year ended January 31, 2024 was a 53-week fiscal year for the retail operations segment. For fiscal 2026, 2025 and 2024, the retail operations segment ended on January 31, 2026, February 1, 2025 and February 3, 2024, respectively. In fiscal 2024, the net sales and operating results generated by the 53rd week of our retail operations segment were not material. ​ The following presentation of management’s discussion and analysis of our consolidated financial condition and results of operations should be read in conjunction with our financial statements, the accompanying notes and other financial information appearing elsewhere in this Report. ​ A discussion with respect to a comparison of the results of operations of fiscal 2025 compared to the fiscal year ended January 31, 2024, other financial information related to fiscal 2024 and information with respect to Liquidity and Capital Resources at January 31, 2024 and for fiscal 2025 is contained under the headings “Results of Operations” and “Liquidity and Capital Resources” in Item 7 of our Annual Report on Form 10-K for the fiscal year ended January 31, 2025. ​ Overview ​ G-III is a global leader in fashion with expertise in design, sourcing, distribution and marketing, which enables us to fuel growth across a portfolio of over 30 globally recognized owned and licensed brands anchored by our key owned brands DKNY, Donna Karan, Karl Lagerfeld and Vilebrequin. We develop products across a diverse range of lifestyle categories which include outerwear, dresses, sportswear, suit separates, athleisure, jeans, swimwear, as well as handbags, footwear, small leather goods, cold weather accessories and luggage. Our brands are positioned to sell at various price points with global distribution across a diverse mix of channels and geographies to reach a broad range of consumers, with approximately 77% and 23% of our net sales in fiscal 2026 being generated in the United States and internationally, respectively. ​ Our owned brands include DKNY, Donna Karan, Karl Lagerfeld, Vilebrequin, Eliza J, Jessica Howard, Andrew Marc, G.H. Bass, Wilsons Leather and Sonia Rykiel. We have an extensive portfolio of well-known licensed brands, including Calvin Klein, Tommy Hilfiger, Levi’s, Nautica, Halston, Champion, Converse, BCBG, French Connection, Starter and 39 Table of Contents major national sports leagues, among others. Through our licensed team sports business, we have partnerships with the National Football League, National Basketball Association, Major League Baseball, National Hockey League and over 150 U.S. colleges and universities. We also source and sell products to major retailers for their own private label programs. ​ Our products are sold through a cross section of leading retailers such as Macy’s, Bloomingdales, Dillard’s, Nordstrom, El Cortes Ingles, Kohl’s, TJ Maxx, Marshall’s, Ross Stores, Burlington and Costco. We also sell our products using digital channels through retail partners such as macys.com, bloomingdales.com, nordstrom.com and dillards.com, each of which operates significant digital businesses. In addition, we sell to leading online retail partners such as Amazon, Fanatics, Zalando and Zappos. ​ We also distribute apparel and other products directly to consumers through our own DKNY, Karl Lagerfeld, Karl Lagerfeld Paris and Vilebrequin retail stores, as well as through our digital sites for our DKNY, Donna Karan, Karl Lagerfeld, Karl Lagerfeld Paris, Vilebrequin, G.H. Bass and Wilsons Leather brands. ​ We operate in fashion markets that are intensely competitive. Our ability to continuously evaluate and respond to changing consumer demands and tastes, across multiple market segments, distribution channels and geographic areas is critical to our success. Although our portfolio of brands is aimed at diversifying our risks in this regard, misjudging shifts in consumer preferences could have a negative effect on our business. Our continued success depends on our ability to design products that are accepted in the marketplace, source the manufacture of our products on a competitive basis and continue to diversify our product portfolio and the markets we serve. ​ We believe that consumers prefer to buy brands they know, and we have continually sought to increase the portfolio of name brands we can offer through different tiers of retail distribution, for a wide array of products at a variety of price points. We have increased the portfolio of brands we offer through licenses, acquisitions and joint ventures. It is our objective to continue to expand our product offerings and we are continually discussing new licensing opportunities with brand owners and seeking to acquire established brands. ​ Recent Developments ​ License Agreements ​ Effective February 2026, we entered into a license agreement with French Connection Limited to design and produce women’s and men’s apparel (subject to certain exclusions), women’s and men’s outerwear, handbags and men’s footwear under the French Connection brand. The license agreement includes an initial term of five-years with an option to renew for an additional five-year term. The products produced under this license agreement are expected to be distributed in North America through our diversified distribution network, including premier department stores, digital channels, as well as other channels. First deliveries of our French Connection product began in February 2026 for Spring 2026. We believe that significant opportunity exists in the categories subject to this license agreement where we have strong expertise, and the products expected to be produced align with G-III’s core competencies. ​ Segments ​ We report based on two segments: wholesale operations and retail operations. ​ Our wholesale operations segment includes sales of products to retailers under owned, licensed and private label brands, as well as sales related to the Karl Lagerfeld and Vilebrequin businesses, including from retail stores operated by Vilebrequin and Karl Lagerfeld, other than sales of product under the Karl Lagerfeld Paris brand generated by our retail stores and digital sites. Wholesale revenues also include royalty revenues from license agreements related to our owned trademarks including DKNY, Donna Karan, Karl Lagerfeld, G.H. Bass, Andrew Marc, Vilebrequin and Sonia Rykiel in product categories we do not produce ourselves. ​ Our retail operations segment consists primarily of direct sales to consumers through our company operated stores and product sales through our digital sites for the DKNY, Donna Karan, Karl Lagerfeld Paris, G.H. Bass and Wilsons Leather 40 Table of Contents brands. As of January 31, 2026, our retail operations segment consisted of 47 company operated stores for our DKNY and Karl Lagerfeld Paris brands, substantially all of which are operated as outlet stores in North America. ​ Trends Affecting Our Business ​ Tariffs ​ Beginning in April 2025, the United States announced additional tariffs on goods imported into the United States, with incremental tariffs on products imported from many countries, including China, Vietnam and Bangladesh, and the potential for further increases and revisions or terminations to existing trade agreements. In response, some countries have announced, or are otherwise considering, retaliatory tariffs on United States exports and other trade restrictions. These actions have led to significant volatility and uncertainty in global markets. During fiscal 2026, approximately 71.6% of our product was sourced from China, Vietnam and Bangladesh. ​ Additional tariffs imposed on imports are causing importers to shift production to lower tariff territories if possible, impacting the importers’ ability to plan production schedules and securing capacity with its ocean carriers. The recent changes to tariffs are increasing costs for importers, impacting demand and affecting ocean container shipping due to limited alternatives for moving goods. ​ In February 2026, the Supreme Court of the United States ruled against the current administration’s use of the International Emergency Economic Powers Act to impose certain tariffs levied in 2025. We have taken action to preserve our rights, but the availability, timing and amount of any potential refunds remains uncertain and subject to further legal, regulatory and administrative actions. The administration also announced a new global tariff of 10% effective February 24, 2026, under a different statute (Section 122 Trade Act of 1974) which will expire in 150 days unless renewed by Congress.   ​ We continue to monitor these changing tariffs and trade restrictions. We are taking steps to mitigate the impact of new and increased tariffs by working with our long standing vendors to participate in the increased costs, increasing prices where possible and continuing to look for alternative sourcing options. ​ Industry Trends ​ Significant trends that affect the apparel industry include retail chains closing unprofitable stores, an increased focus by retail chains and others on expanding digital sales and providing convenience-driven fulfillment options, the continued consolidation of retail chains and the desire on the part of retailers to consolidate vendors supplying them. ​ We distribute our products through multiple channels, including online through retail partners such as macys.com, bloomingdales.com, nordstrom.com and dillards.com, each of which operates a significant online business. In addition, we sell to leading online retail partners such as Amazon, Fanatics, Zalando and Zappos. We also distribute apparel and other products directly to consumers through our own D [Excerpt truncated for page length; the complete text is on the linked full-MD&A page.] Read the full FY 2026 MD&A: /company/GIII/mda/fy2026/ All MD&A years: /company/GIII/mda/ ## MD&A history Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page. - [FY 2025 MD&A](/company/GIII/mda/fy2025/): filed 2025-03-24; accession 0001558370-25-003540 (https://www.sec.gov/Archives/edgar/data/821002/000155837025003540/giii-20250131x10k.htm) - [FY 2024 MD&A](/company/GIII/mda/fy2024/): filed 2024-03-25; accession 0001558370-24-003856 (https://www.sec.gov/Archives/edgar/data/821002/000155837024003856/giii-20240131x10k.htm) - [FY 2023 MD&A](/company/GIII/mda/fy2023/): filed 2023-03-27; accession 0001558370-23-004739 (https://www.sec.gov/Archives/edgar/data/821002/000155837023004739/giii-20230131x10k.htm) - [FY 2022 MD&A](/company/GIII/mda/fy2022/): filed 2022-03-28; accession 0001558370-22-004512 (https://www.sec.gov/Archives/edgar/data/821002/000155837022004512/giii-20220131x10k.htm) ## Macro cross-references Indicators mapped to this company's SIC classification (industry 2300 Apparel & Other Finishd Prods of Fabrics & Similar Matl) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim. - [INDPRO](/indicator/INDPRO/): Industrial Production: Total Index - [TCU](/indicator/TCU/): Capacity Utilization: Total Index - [PPIACO](/indicator/PPIACO/): Producer Price Index by Commodity: All Commodities - [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product - [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity - [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate - [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private - [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm Macro-to-micro threads including this sector: [Inflation (CPI / PCE / PPI)](/thread/inflation-cpi-pce-ppi/), [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Money & trade](/thread/money-trade/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/), [Industrial orders & inventories](/thread/industrial-orders/), [Trade & external](/thread/trade-external/). All macro indicators: /indicators/ ## For LLMs & downloads Markdown twin: /company/GIII.md · JSON record: /company/GIII.json · verified financials: /company/GIII/financials.json / /company/GIII/financials.csv · machine TOC for the whole site: /llms.txt