G-III Apparel Group (NASDAQ:GIII) on Wednesday reported fiscal 2026 net sales of $2.96 billion for the period ended January 31, 2026, a decrease of 7% from the prior year, reflecting softer wholesale demand in certain categories and ongoing challenges in the retail apparel environment.
GAAP net income totaled $67.4 million, or $1.51 per diluted share.
Results included $46.1 million in non-cash asset impairment charges and $17.5 million in bad debt expense related to the Saks Global bankruptcy filing, which impacted receivable collections and required valuation adjustments on certain assets.
The company ended the fiscal year with $406.7 million in cash and returned $54 million to shareholders through dividends and share repurchases during the period.
In response to the industry pressures, G-III initiated a $25 million run-rate cost savings program focused on operational efficiencies, supply chain optimization and overhead reductions.
For fiscal 2027, the company provided initial guidance for net sales of approximately $2.71 billion and net income in the range of $88 million to $92 million, reflecting expectations for continued softness in wholesale channels partially offset by cost savings realization and potential recovery in select licensed brand categories.