G-III Apparel Group Ltd.
which counts Donna Karan and Dockers among its portfolio of brands, was downgraded to hold from buy at Stifel on Thursday over concerns about the impact of tariffs on Chinese goods. Analysts cut the price target to $20 from $37. During earnings reported late Wednesday, PVH Corp.
cut its full-year EPS guidance to $7.95 to $8.05 from $9.05 to $9.15, and adjusted EPS guidance to $9.30 to $9.40 from $10.20 to $10.30 due to “the global retail landscape and continuing escalation of the trade tensions between the U.S. and China,” according to a statement from PVH Chief Executive Emanuel Chirico. In addition, the company saw a more promotional retail environment in the most recent quarter. “With key partner PVH lowering guidance last night due in part to an increasingly promotional U.S. retail environment, we believe investor sentiment on GIII shares will remain focused on the risks,” Stifel said. G-III Apparel stock is up 3.8% in Thursday trading, but has sunk more than 54% over the last year. The S&P 500 index
has inched up 0.2% for the past 12 months.
Go to Source