07:43 AM EDT, 09/05/2024 (MT Newswires) -- G-III Apparel Group ( GIII ) reported fiscal Q2 non-GAAP net income Thursday of $0.52 per diluted share, up from $0.40 a year earlier.

Analysts polled by Capital IQ expected $0.27.

Net sales for the quarter ended July 31 were $644.8 million, down from $659.8 million a year earlier.

Four analysts surveyed by Capital IQ expected about $649.5 million.

The clothing and accessories company said it expects fiscal Q3 non-GAAP net income of between $2.20 and $2.30 per diluted share on net sales of about $1.10 billion. Analysts polled by Capital IQ expect $2.61 and $1.13 billion, respectively.

The company said it now expects fiscal 2025 non-GAAP net income of between $3.95 and $4.05 per diluted share, up from its prior guidance of $3.58 to $3.68. Analysts surveyed by Capital IQ expect $3.66.

Net sales for the fiscal year are still projected to be $3.20 billion, the company said. That forecast matches the average estimate of analysts surveyed by Capital IQ.

Shares of the company were up more than 3% in recent Thursday premarket activity.

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