G-III Apparel Group (NASDAQ: GIII) manufactures and distributes outerwear and sportswear, under licensed and company-owned brands. The firm creates fashions for such names as Calvin Klein, Kenneth Cole, Guess?, Jones New York, Nine West, IZOD and Tommy Hilfiger. It also focuses on apparel for NFL, NBA, NHL and MLB teams. Further, G-III cooperates with leading retailers in developing product lines that are sold under its own private labels. Department store customers include Macy's (NYSE: M) and Wal-Mart (NYSE: WMT).

Investors were pleased last week, when the company moved to establish a more significant retail presence by purchasing 116 outlet stores from Wilsons The Leather Experts. The acquisition led management to boost FY09 EPS guidance to $1.35-$1.40 ($1.29 consensus) and FY09 revenue guidance to $720-$730 million ($661.86M consensus). Brean Murray subsequently reiterated its "buy" rating on the shares, noting that the deal offered a "natural outlet" for G-III's products and reduced its dependence on the department store channel.

Continue reading G-III Apparel Group (GIII): Shares cycle in bullish 'flag' formation

G-III Apparel Group (GIII): Shares cycle in bullish 'flag' formation originally appeared on BloggingStocks on Wed, 16 Jul 2008 09:56:00 EST. Please see our terms for use of feeds.