G-III Apparel Group, Ltd. (GIII) Income Statement

30Y historyFree accessUpdated daily

Revenue has contracted for five straight quarters, falling 9.6% YoY in 2027Q2, while gross margins have exhibited extreme instability, swinging between 36.0% and 64.9% over the past six quarters, which suggests severe underlying operational and pricing challenges.

Annual statement

GIII Income Statement

G-III Apparel Group, Ltd. (GIII) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Jan'26	Jan'25	Jan'24	Jan'23	Jan'22	Jan'21	Jan'20	Jan'19	Jan'18	Jan'17	Jan'16	Jan'15	Jan'14	Jan'13	Jan'12	Jan'11	Jan'10	Jan'09	Jan'08	Jan'07	Jan'06	Jan'05	Jan'04	Jan'03	Jan'02	Jan'01	Jan'00	Jan'99	Jan'98	Jan'97

Sales/Revenue	2.85B	2.96B	3.18B	3.1B	3.23B	2.77B	2.06B	3.16B	3.08B	2.81B	2.39B	2.34B	2.12B	1.72B	1.4B	1.23B	1.06B	800.86M	711.15M	518.87M	427.02M	324.07M	324.07M	214.28M	202.65M	201.43M	187.06M	149.63M	121.6M	120.1M	117.6M
Revenue Growth %	-8.74%	-7.04%	2.66%	-3.98%	16.63%	34.62%	-34.97%	2.74%	9.59%	17.62%	1.8%	10.74%	23.2%	22.76%	13.69%	15.78%	32.78%	12.62%	37.06%	21.51%	31.77%	0%	51.24%	5.74%	0.61%	7.68%	25.01%	23.05%	1.25%	2.13%	-3.37%
Cost of Goods Sold	1.6B	1.82B	1.91B	1.88B	2.15B	1.81B	1.35B	2.08B	2.01B	1.79B	1.58B	1.53B	1.38B	1.15B	957.99M	867.96M	718.09M	539.38M	517.4M	384.12M	315.9M	242.35M	242.35M	161.53M	153.37M	158.16M	136.1M	109.27M	94M	91.5M	87.6M
COGS % of Revenue	-	61.62%	60.04%	60.81%	66.73%	65.28%	65.66%	65.85%	65.27%	63.77%	66.13%	65.31%	65.19%	66.71%	68.44%	70.5%	67.53%	67.35%	72.76%	74.03%	73.98%	74.78%	74.78%	75.39%	75.68%	78.52%	72.76%	73.03%	77.3%	76.19%	74.49%
Gross Profit	1.25B	1.14B	1.27B	1.21B	1.07B	960.56M	705.82M	1.08B	1.07B	1.02B	808.38M	813.25M	736.88M	571.96M	441.73M	363.24M	345.31M	261.49M	193.74M	134.74M	111.12M	81.72M	81.72M	52.74M	49.28M	43.27M	50.96M	40.36M	27.6M	28.6M	30M
Gross Margin %	43.86%	38.38%	39.96%	39.19%	33.27%	34.72%	34.34%	34.15%	34.73%	36.23%	33.87%	34.69%	34.81%	33.29%	31.56%	29.5%	32.47%	32.65%	27.24%	25.97%	26.02%	25.22%	25.22%	24.61%	24.32%	21.48%	27.24%	26.97%	22.7%	23.81%	25.51%
Gross Profit Growth %	-	-10.71%	4.67%	13.13%	11.74%	36.09%	-34.6%	1.02%	5.05%	25.8%	-0.6%	10.36%	28.84%	29.48%	21.61%	5.19%	32.06%	34.97%	43.79%	21.26%	35.97%	0%	54.94%	7.02%	13.91%	-15.09%	26.26%	46.23%	-3.5%	-4.67%	17.65%
Operating Expenses	1.02B	978.46M	969.81M	924.22M	833.15M	648.01M	602.88M	832.18M	834.76M	855.25M	696.64M	628.76M	571.99M	440.51M	341.24M	277.02M	248.38M	205.28M	164.1M	100.81M	83.26M	64.76M	64.76M	48.8M	45.11M	35.81M	29.86M	29.58M	28.6M	23.8M	23.9M
OpEx % of Revenue	-	33.09%	30.49%	29.83%	25.82%	23.42%	29.34%	26.33%	27.14%	30.47%	29.19%	26.82%	27.02%	25.64%	24.38%	22.5%	23.36%	25.63%	23.08%	19.43%	19.5%	19.98%	19.98%	22.77%	22.26%	17.78%	15.96%	19.77%	23.52%	19.82%	20.32%
Selling, General & Admin	1.01B	978.46M	969.81M	924.22M	833.15M	648.01M	602.88M	832.18M	834.76M	855.25M	696.64M	628.76M	571.99M	440.51M	341.24M	277.02M	248.38M	205.28M	164.1M	100.81M	83.26M	64.76M	64.76M	48.8M	41.55M	35.81M	29.86M	28.14M	27.2M	22.6M	22.4M
SG&A % of Revenue	-	33.09%	30.49%	29.83%	25.82%	23.42%	29.34%	26.33%	27.14%	30.47%	29.19%	26.82%	27.02%	25.64%	24.38%	22.5%	23.36%	25.63%	23.08%	19.43%	19.5%	19.98%	19.98%	22.77%	20.5%	17.78%	15.96%	18.81%	22.37%	18.82%	19.05%
Research & Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	2M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3.56M	0	0	1.44M	1.4M	1.2M	1.5M
Operating Income	227.84M	156.55M	301.27M	290.1M	240.22M	312.55M	102.93M	247.03M	233.53M	161.71M	111.74M	184.48M	164.9M	131.45M	100.49M	86.22M	96.93M	56.21M	29.65M	33.94M	27.86M	16.96M	16.96M	3.95M	4.18M	7.45M	21.1M	10.78M	-1M	4.8M	6.1M
Operating Margin %	7.99%	5.29%	9.47%	9.36%	7.44%	11.3%	5.01%	7.82%	7.59%	5.76%	4.68%	7.87%	7.79%	7.65%	7.18%	7%	9.12%	7.02%	4.17%	6.54%	6.52%	5.23%	5.23%	1.84%	2.06%	3.7%	11.28%	7.2%	-0.82%	4%	5.19%
Operating Income Growth %	-	-48.04%	3.85%	20.76%	-23.14%	203.64%	-58.33%	5.78%	44.41%	44.71%	-39.43%	11.88%	25.44%	30.81%	16.54%	-11.05%	72.46%	89.59%	-12.64%	21.81%	64.28%	0%	329.53%	-5.48%	-43.95%	-64.68%	95.77%	1177.7%	-120.83%	-21.31%	190.48%
EBITDA	252.7M	185.57M	328.71M	317.62M	322.48M	383.52M	212.93M	359.03M	272.35M	199.49M	144.22M	209.88M	185.27M	145.13M	110.43M	93.7M	102.67M	61.59M	36.59M	39.36M	32.29M	20.09M	20.09M	5.29M	5.67M	8.67M	22.26M	12.21M	400K	6M	7.6M
EBITDA Margin %	8.87%	6.28%	10.33%	10.25%	9.99%	13.86%	10.36%	11.36%	8.85%	7.11%	6.04%	8.95%	8.75%	8.45%	7.89%	7.61%	9.65%	7.69%	5.15%	7.59%	7.56%	6.2%	6.2%	2.47%	2.8%	4.3%	11.9%	8.16%	0.33%	5%	6.46%
EBITDA Growth %	-15.28%	-43.55%	3.49%	-1.51%	-15.92%	80.12%	-40.69%	31.83%	36.52%	38.32%	-31.28%	13.28%	27.66%	31.42%	17.86%	-8.74%	66.7%	68.3%	-7.03%	21.91%	60.73%	0%	279.61%	-6.6%	-34.63%	-61.06%	82.22%	2953.75%	-93.33%	-21.05%	105.41%
D&A (Non-Cash Add-back)	23.31M	29.02M	27.44M	27.52M	82.25M	70.98M	109.99M	112.01M	38.82M	37.78M	32.48M	25.39M	20.37M	13.68M	9.94M	7.47M	5.73M	5.38M	6.95M	5.43M	4.43M	3.13M	3.13M	1.34M	1.49M	1.22M	1.16M	1.44M	1.4M	1.2M	1.5M
EBIT	184.52M	111.18M	288.7M	280.19M	-81.57M	320.64M	102.93M	247.03M	233.53M	161.71M	111.74M	184.48M	164.9M	131.45M	100.49M	86.22M	96.93M	56.21M	29.65M	33.94M	27.86M	16.96M	16.96M	3.07M	4.18M	7.45M	21.1M	10.78M	-1M	4.8M	6.1M
Net Interest Income	4.44M	-508K	-18.84M	-39.59M	-56.6M	-49.67M	-50.35M	-44.41M	-43.92M	-42.36M	-15.59M	-6.69M	-7.94M	-8.6M	-7.45M	-5.71M	-4.03M	-4.71M	-5.56M	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income	5.97M	0	0	0	0	0	0	0	0	0	0	0	0	624K	310K	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense	1.52M	508K	18.84M	39.59M	56.6M	49.67M	50.35M	44.41M	43.92M	42.36M	15.68M	6.69M	7.94M	9.22M	7.76M	5.71M	4.03M	4.71M	5.56M	3.16M	6.36M	4.35M	1.09M	0	0	0	0	0	0	0	0
Other Income/Expense	-44.85M	-45.88M	-31.41M	-49.5M	-378.39M	-41.57M	-67.21M	-64.93M	-49.7M	-51.66M	-33.98M	-5.35M	3.55M	-9.22M	-8.48M	-6.98M	-4.03M	-4.71M	-39.09M	-4.74M	-6.36M	-4.35M	-4.35M	-1.97M	-1.91M	-3.58M	-2.51M	-1.06M	-700K	-1.1M	-2.1M
Pretax Income	182.99M	110.67M	269.86M	240.6M	-138.17M	270.98M	35.73M	182.1M	183.83M	110.05M	77.76M	179.13M	168.44M	122.23M	92M	79.24M	92.91M	51.5M	-9.44M	29.2M	21.5M	12.61M	12.61M	1.98M	2.27M	3.88M	18.59M	9.71M	-1.7M	3.7M	4M
Pretax Margin %	6.42%	3.74%	8.48%	7.77%	-4.28%	9.79%	1.74%	5.76%	5.98%	3.92%	3.26%	7.64%	7.96%	7.11%	6.57%	6.44%	8.74%	6.43%	-1.33%	5.63%	5.03%	3.89%	3.89%	0.92%	1.12%	1.92%	9.94%	6.49%	-1.4%	3.08%	3.4%
Income Tax	47.59M	43.32M	76.57M	65.86M	-3.79M	70.88M	12.2M	38.26M	45.76M	47.92M	25.82M	64.8M	59.45M	45.83M	35.44M	29.62M	36.22M	19.78M	4.59M	11.71M	8.31M	5.52M	5.52M	1.28M	1.89M	1.51M	7.44M	3.93M	-500K	900K	900K
Effective Tax Rate %	26.01%	39.14%	28.37%	27.37%	2.74%	26.16%	34.16%	21.01%	24.89%	43.55%	33.21%	36.17%	35.29%	37.49%	38.52%	37.38%	38.99%	38.41%	-48.6%	40.1%	38.64%	43.75%	43.75%	64.49%	83.17%	38.99%	40%	40.5%	29.41%	24.32%	22.5%
Net Income	135.4M	67.35M	193.57M	176.17M	-133.06M	200.59M	23.55M	143.84M	138.07M	62.12M	51.94M	114.33M	110.36M	77.36M	56.88M	49.62M	56.68M	31.72M	-14.03M	17.49M	13.19M	7.09M	7.09M	703K	382K	2.36M	11.15M	5.78M	-1.2M	2.8M	3.1M
Net Margin %	4.75%	2.28%	6.09%	5.69%	-4.12%	7.25%	1.15%	4.55%	4.49%	2.21%	2.18%	4.88%	5.21%	4.5%	4.06%	4.03%	5.33%	3.96%	-1.97%	3.37%	3.09%	2.19%	2.19%	0.33%	0.19%	1.17%	5.96%	3.86%	-0.99%	2.33%	2.64%
Net Income Growth %	-25.71%	-65.2%	9.88%	232.4%	-166.33%	751.96%	-83.63%	4.18%	122.24%	19.61%	-54.57%	3.6%	42.66%	36.02%	14.62%	-12.46%	78.71%	326.09%	-180.21%	32.61%	85.97%	0%	908.82%	84.03%	-83.84%	-78.81%	92.98%	581.67%	-142.86%	-9.68%	875%
Net Income (Continuing)	135.4M	67.35M	193.29M	174.74M	-134.38M	200.1M	23.52M	143.84M	138.07M	62.12M	51.94M	114.33M	108.99M	76.4M	56.57M	49.62M	56.68M	31.72M	-14.03M	17.49M	13.19M	7.09M	7.09M	703K	382K	2.36M	11.15M	5.78M	-1.2M	2.8M	3.1M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	-2.28M	-850K	471K	964K	0	0	0	0	0	0	-1.12M	-159K	0	0	0	0	0	0	0	0	0	0	0	0	0	0	300K	0
EPS (Diluted)	3.05	1.51	4.20	3.75	-2.82	4.05	0.48	2.94	2.75	1.25	1.10	2.46	2.49	1.86	1.40	1.23	1.44	0.92	-0.42	0.53	0.47	0.29	0.03	0.38	0.02	0.11	0.52	0.28	-0.06	0.13	0.15
EPS Growth %	-25.12%	-64.05%	12%	232.98%	-169.63%	743.75%	-83.67%	6.91%	120%	13.64%	-55.28%	-1.2%	33.87%	32.86%	13.82%	-14.58%	56.52%	319.05%	-179.25%	12.77%	62.07%	866.67%	-92.11%	2433.33%	-86.36%	-78.85%	85.71%	557.52%	-147.08%	-13.33%	828.16%
EPS (Basic)	-	1.58	4.35	3.84	-2.82	4.14	0.49	2.98	2.81	1.27	1.12	2.52	2.55	1.91	1.42	1.25	1.48	0.94	-0.42	0.55	0.50	0.31	0.04	0.40	0.02	0.12	0.57	0.29	-0.06	0.14	0.15
Diluted Shares Outstanding	44.34M	44.5M	46.12M	47M	47.65M	49.52M	48.78M	48.9M	50.27M	49.75M	47.39M	46.51M	44.42M	41.73M	40.56M	40.38M	39.41M	34.72M	33.07M	33.34M	27.96M	24.47M	22.58M	22.04M	22.04M	22.12M	21.36M	20.55M	19.62M	21.15M	20.55M
Basic Shares Outstanding	42.4M	42.73M	44.45M	45.86M	47.65M	48.43M	48.24M	48.21M	49.14M	48.82M	46.31M	45.33M	43.3M	40.65M	40.01M	39.59M	38.35M	33.98M	33.07M	32.24M	26.4M	23.02M	21.55M	20.74M	20.29M	20.03M	19.69M	20.14M	19.62M	19.46M	20.24M
Dividend Payout Ratio	-	6.26%	-	-	-	-	11.45%	2.56%	-	5.75%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Key Metrics

Growth RegimeDecelerating

ProfitabilityStrained

Balance SheetAdequate

Cash FlowMixed

Top Statement Risk

Volatile and shrinking revenue base

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2027Q2)

Revenue in Steady Decline

G-III's revenue has contracted for five consecutive quarters, with the most recent 2027Q2 showing a 9.6% year-over-year decline, indicating a persistent and structural challenge in its top-line growth trajectory.

The revenue decline appears systemic rather than seasonal, with the company failing to post positive year-over-year growth in any quarter of the provided history. This consistent contraction suggests potential market share loss or a strategic portfolio shift that has not yet stabilized the top line.

Extreme Gross Margin Volatility

Gross margins have swung dramatically from a low of 36.0% in 2026Q4 to a high of 64.9% in 2027Q1, a pattern that suggests volatile product mix, aggressive promotional activity, or significant inventory management challenges.

The margin volatility warrants scrutiny as it indicates inconsistent pricing power and cost of goods sold management. The stark difference between quarters, such as the 28.9 percentage point swing from 2026Q4 to 2027Q1, points to operational instability in sourcing or a lack of sustainable brand leverage.

Operating Leverage Eroded by Overhead

Despite a temporary margin recovery in 2027Q1, operating leverage remains weak as SG&A expenses have consistently consumed over 36% of revenue in recent quarters, severely limiting the translation of gross profit into operating income.

The company's cost structure appears rigid, with SG&A expenses consistently in the $230M-$260M range regardless of revenue fluctuations. This suggests a high fixed-cost base that provides little upside to profitability during revenue troughs and significantly constrains operating income generation.

Profitability Lost in Late 2026

The company experienced a critical operational inflection in 2026Q4, where a 36.0% gross margin and net loss of $31.9 million marked a severe deterioration from the prior year's profit levels, revealing underlying vulnerabilities.

The 2026Q4 results, showing a net loss on $771.5M revenue, appears to be a low point driven by severe margin compression. This inflection may indicate a failed strategy, a major inventory write-down, or a shift in channel mix that has permanently altered the company's profitability profile compared to earlier quarters.

The Margin Recovery Narrative Is Fragile

The seemingly strong 2027Q1 profitability is contradicted by the immediate collapse in 2027Q2, where operating margin plummeted from 15.9% to 2.0% on similar revenue, suggesting the recovery was likely driven by non-recurring factors rather than sustainable improvement.

A short-seller would focus on the durability of G-III's business model, highlighting that the high-margin 2027Q1 quarter produced only $85.2M of operating income on $347.7M gross profit, implying that the underlying cost structure absorbs nearly all gross profit. The immediate reversion to a 2.0% operating margin the next quarter validates concerns about the sustainability of any earnings recovery.

GIII — Frequently Asked Questions

Quick answers to the most common questions about buying GIII stock.

What was G-III Apparel Group, Ltd.'s (GIII) revenue in 2026?

For fiscal year 2026, G-III Apparel Group, Ltd. (GIII) reported total revenue of $2.96B. This represents a 2414.5% increase compared to $117.6M in 1997.

Is G-III Apparel Group, Ltd. (GIII) profitable?

G-III Apparel Group, Ltd. (GIII) is profitable, generating $67.4M in net income for the fiscal year ending 2026 with a net profit margin of 2.3%.

What is G-III Apparel Group, Ltd.'s operating profit margin?

G-III Apparel Group, Ltd. (GIII) reported an operating income of $156.6M, resulting in an operating profit margin of 5.3%. This margin reflects the operational efficiency of the business before interest and taxes.

What is G-III Apparel Group, Ltd.'s gross profit and gross margin?

G-III Apparel Group, Ltd. (GIII) generated $1.14B in gross profit for the year, representing a gross profit margin of 38.4%. This demonstrates the company's core pricing power and production efficiency.