- Barclays analyst Paul Kearney has reiterated an Equal Weight rating on the shares of G-III Apparel Group Ltd (NASDAQ:GIII) and reduced the price target from $22 to $18.
- The company’s second-quarter EPS of $0.39 missed the analyst consensus of $0.47.
- The retailer became the sole owner of clothing and accessories brand Karl Langerfeld brand by acquiring the remaining 81% stake for €200 million.
- Excluding the addition of Karl Langerfeld brand into 2H results, the analyst sees the potential for organic sales and margin pressure from an increasingly promotional retail environment.
- While GIII does not believe it needs to promote in the back half, Kearney sees risks should consumers become increasingly price sensitive.
- Price Action: GIII shares are trading higher by 3.61% at $18.65 on the last check Friday.
What’s Going On With XPeng Stock Today?
XPeng shares are trading slightly lower despite reporting a 33% year-on-year increase in April deliveries and highlighting advancements in its AI-driven technologies.
