On May 26, 2023, Thrivent Financial for Lutherans reported a reduction in its ownership of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 26.4% during the fourth quarter. This move was documented in their most recent 13F filing with the Securities and Exchange Commission (SEC). The fund now owns 43,839 shares of this textile-making company after selling off 15,703 shares during this period. This puts Thrivent Financial’s worth at about $601,000 at the end of the most-recent quarter.
Specializing in designing, sourcing and marketing women’s apparel lines such as outerwear, sportswear and performance wear as well as luxurious handbags and leather goods for over thirty years, G-III Apparel Group Ltd., currently operates through both Wholesale and Retail segments.
Shares of G-III Apparel Group Limited opened at $16.78 on Friday with a market capitalization value of $765 million demonstrating an increase since the beginning of 2022. Despite facing challenges such as decreased demand due to COVID-19 and tariffs imposed by China on apparel imports from America which negatively impacted gross margin rates early on in the pandemic – CEO Morris Goldfarb opted to keep product prices higher instead of lowering them; however offering reduced promotional pricing opportunities helped sales kick upward again propelling share prices upwards in turn.
As noted by analysts,&Thrivent Financial for Lutherans sold shares due to its own financial considerations despite labels performing well overall domestically and internationally alike.&Thrivent Financial may have felt more comfortable investing elsewhere providing better returns or transferring funds within their platform moving forward based on data they have collected maximizing potential returns while managing risk with investment strategies prudent to achieve desired objectives.
G-III Apparel Group has had noteworthy milestones across decades including being presented top global fashion categories awards such as Partner Brands Awards given by L Brands and obtaining exclusive rights to DKNY trademarks in the wholesale channel. This demonstrates the strength of the company’s growth and resilience through economic downturns such as those experienced due to COVID-19, resulting in their shares facing less instability and volatility than for competitors in similar industries.
It is unknown what will be the future outlook for G-III Apparel Group or Thrivent Financial’s investment strategies, but it is clear that G-III Apparel has effectively weathered difficult periods to emerge stronger overall providing both investors&and customers with a product proudly designed and marketed within ESG ideals of quality, affordability, and integrity across its diverse brand portfolio.
G-III Apparel Group: Quarterly Earnings Report Analysis and Future Prospects
G-III Apparel Group Ltd. is a firm that designs, sources, and markets women’s apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and performance wear. The company also offers handbags, footwear, small leather goods, cold weather accessories and luggage. Presently, institutional investors and hedge funds own 88.79% of G-III Apparel Group, with Signaturefd LLC increasing its stake in the textile maker’s stock by 456.3 percent in the fourth quarter while Robeco Institutional Asset Management BV bought into the company valued at around $121,000 in the third quarter.
On April 4th 2023 director Laura H. Pomerantz sold 3,250 shares of G-III’s stock at an average price of $15.53 per share for a total value of $50,472.50 reducing her holding to 44,871 shares or approximately $696k worth.
The G-III Apparel Group reported quarterly earnings on Thursday March 16th with a disappointing EPS of $0.41 falling below estimated consensus by ($0.05). Overall it had a negative net margin of -4.12% as revenue reached $854 million during that period.
In light of these results there has been much debate amongst industry experts about what it means for both the company and investors alike – some are suggesting that there may be better opportunities elsewhere whilst others remain optimistic about long-term growth prospects given improvements in product quality.
A number of analysts have issued recommendation ratings since the earnings report was publicised; for instance StockNews.com lowered shares of G-III Apparel Group from a “hold” rating to a “sell” rating on May 20th with only one other analyst giving a similar assessment up until that point.
Looking forward to future announcements regarding financial results could reveal more information on where the company is headed over the coming months; giving investors an opportunity to make more informed judgement calls on this possible investment.
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