12:15 PM EDT, 03/14/2024 (MT Newswires) -- (Updates with stock move in the headline and first paragraph.)

G-III Apparel Group's ( GIII ) shares fell by more than 13% in Thursday afternoon trading as the company reported fiscal Q4 net sales of $764.8 million, down from $854.4 million a year earlier.

Analysts surveyed by Capital IQ expected $817 million.

Non-GAAP earnings for the fiscal quarter ended Jan. 31 were $0.76 per diluted share, up from $0.41 a year earlier.

Analysts polled by Capital IQ expected $0.68.

For fiscal Q1, the apparel retailer expects non-GAAP net income ranging from a loss of $0.10 per diluted share to breakeven on net sales of about $615 million. Analysts polled by Capital IQ expect earnings of $0.11 per share on revenue of $608.6 million.

For fiscal 2025, the company said it expects non-GAAP net income of $3.50 to $3.60 per diluted share on net sales of about $3.2 billion. Analysts surveyed by Capital IQ expect $3.88 per share on revenue of $3.22 billion.

Price: 26.40, Change: -3.93, Percent Change: -12.96