G-III Apparel (GIII $24.40 -4.26) reported second quarter earnings of $0.08 per share, $0.12 worse than the Capital IQ Consensus Estimate of $0.20.
Revenues rose 21.7% year/year to $230 million versus the $214.4 million consensus.
The company issued mixed guidance for the third quarter with EPS of $2.25-$2.35 versus the $2.35 Capital IQ consensus and revenues of $500 million versus the $501.63 million consensus.
The company issued mixed guidance for fiscal year 2012 with EPS of $3.05-$3.15 versus the $3.21 consensus and revenues of $1.25 billion versus the $1.21 billion consensus.
The company stated, "We had a strong second quarter from a revenue perspective, but some softness in the market prompted us to provide higher levels of support and discounts to our customers. While this affected our gross margin in the quarter, we have done a good job of stimulating demand and keeping inventories current for us and our retail partners."






