G-III Apparel Group shares fell as the company revised its full-year outlook, despite beating second-quarter profit and revenue estimates. Quarterly sales were $613.266 million, down 5% year over year, exceeding expectations. Gross profit decreased to $250.471 million, with operating profit at $16.30 million and adjusted EBITDA at $23.268 million.

Total debt decreased by 96% to $15.5 million this year compared to last year. For fiscal 2026, G-III Apparel Group anticipates challenges from the macro environment, retail sentiment, and tariff impacts. The company cut its adjusted EPS outlook to $2.55–$2.75 and sales forecast to $3.02 billion for the year, below analyst estimates.

Morris Goldfarb, G-III’s Chairman and CEO, mentioned efforts to mitigate tariff pressure and navigate the challenging environment. The company is implementing strategies like vendor participation and selective sourcing shifts. Despite the revised outlook, Goldfarb expressed confidence in G-III’s ability to manage through the obstacles and drive long-term growth.

Read more at Yahoo Finance: G-III Apparel Slashes Annual Outlook As CEO Flags Tariffs And Retail Weakness