G-III Apparel Group, Ltd. Announces Repurchase of Approximately 723,000 Shares under Authorized Share Repurchase Program
10 January 2019 - 11:00PM
Business Wire
G-III Apparel Group, Ltd. (NasdaqGS:GIII) today announced that
the Company has repurchased approximately 723,000 shares at an
average price of $28.09 per share under its existing authorized
share repurchase program. The shares were repurchased between
December 14, 2018 and December 27, 2018. The Company currently has
approximately 4.28 million shares remaining under its authorized
share repurchase program.
Morris Goldfarb, G-III’s Chairman and Chief Executive Officer,
said, “We are pleased to announce that we purchased shares at what
we believe to be opportunistic prices. Our Board of Directors view
the authorized share repurchase program as an effective means to
enhance shareholder value.”
Share repurchases may be commenced, suspended, or discontinued
without prior notice. The timing and actual number of any shares
repurchased depends on a variety of factors, including market
conditions, and the Company assumes no obligation to publicly
disclose future repurchases, except as required by applicable
law.
About G-III Apparel Group,
Ltd.
G-III designs, sources and markets apparel and accessories under
owned, licensed and private label brands. G-III’s owned brands
include DKNY, Donna Karan, Vilebrequin, G. H. Bass, Andrew Marc,
Marc New York, Eliza J and Jessica Howard. G-III has fashion
licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld
Paris, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Levi's and
Dockers brands. Through our team sports business, G-III has
licenses with the National Football League, National Basketball
Association, Major League Baseball, National Hockey League, and
over 150 U.S. colleges and universities. G-III also operates retail
stores under the DKNY, Wilsons Leather, G. H. Bass, Vilebrequin,
Karl Lagerfeld Paris and Calvin Klein Performance names.
Statements concerning G-III's business outlook or future
economic performance, anticipated revenues, expenses or other
financial items; product introductions and plans and objectives
related thereto; and statements concerning assumptions made or
expectations as to any future events, conditions, performance or
other matters are "forward-looking statements" as that term is
defined under the Federal Securities laws. Forward-looking
statements are subject to risks, uncertainties and factors which
include, but are not limited to, reliance on licensed product,
reliance on foreign manufacturers, risks of doing business abroad,
the current economic and credit environment, the nature of the
apparel industry, including changing customer demand and tastes,
customer concentration, seasonality, risks of operating a retail
business, customer acceptance of new products, the impact of
competitive products and pricing, dependence on existing
management, possible disruption from acquisitions, risks relating
to G-III’s operations of Donna Karan International Inc., the impact
on our business of the imposition of tariffs by the United States
government and business and general economic conditions, as well as
other risks detailed in G-III's filings with the Securities and
Exchange Commission. G-III assumes no obligation to update the
information in this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190110005100/en/
G-III Apparel Group, Ltd.Priya TrivediVP of Investor
Relations and Treasurer(646) 473-5157
Investor Relations:Tom FilandroICR, Inc.(646)
277-1235
G III Apparel (NASDAQ:GIII)
Historical Stock Chart
From Apr 2024 to May 2024
G III Apparel (NASDAQ:GIII)
Historical Stock Chart
From May 2023 to May 2024