G-III Apparel Group's Q1 net sales rise 16 percent, updates outlook

G-III Apparel Group, Ltd. recorded net sales for the first quarter increased 16 percent to 611.7 million dollars compared to 529 million dollars in the year-ago period. The company reported net income of 9.9 million dollars or 0.20 dollar per diluted share compared to a net loss of 10.4 million dollars or 0.21 dollar per share, in the prior year's comparable period. Non-GAAP net income per diluted share was 0.22 dollar compared to a non-GAAP net loss of 0.18 dollar per share in the same period last year.