Guidance for net income is between $180 million and $190 million, or $3.65 to $3.75 per share. This is higher than previous guidance for net income between $155 million and $165 million, or between $3.10 and $3.20 per share.

G-III shares rose 5%, to $31.16, in premarket trade.

“Given the strong demand we are seeing across our brands, we are well positioned for the holiday season. We are raising our full year guidance and expect to deliver our highest annual earnings in our company’s history,” Chief Executive Morris Goldfarb said.

G-III said that as the developments associated with the Covid-19 pandemic continue to be fluid, guidance contemplates the expected effect from the current supply-chain conditions. This includes expected increased shipping costs and delays in receipt of goods. But, the guidance doesn’t contemplate any reimposition of government-mandated store closures or other restrictions, the company said.

Write to Michael Dabaie at michael.dabaie@wsj.com

By Michael Dabaie

The shares of G-III Apparel Group Ltd. rose 3.5% to $ 30.67 after the clothing company raised its guidance for the fiscal year on Wednesday.

The clothing and accessories company – with owned, licensed and private label brands including DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld Paris – said that for fiscal 2022, it expects to net sales of approximately $ 2.77 billion. This is an increase from previously forecast net sales of about $ 2.7 billion.

The forecast for net income is between $ 180 million and $ 190 million, or $ 3.65 to $ 3.75 per share. That’s higher than previous forecast for net income of between $ 155 million and $ 165 million, or between $ 3.10 and $ 3.20 per share.

“Given the significant demand we are seeing across all of our brands, combined with our strong order backlog, we have the confidence to raise our guidance for fiscal 2022. We now expect to generate annual net profit the highest diluted share of our company. record, surpassing FY20 results before the pandemic by around 26%, ”Chief Executive Officer Morris Goldfarb said on the company’s conference call.

G-III reported third-quarter net sales of $ 1.015 billion, up from $ 826.6 million a year earlier and just below the FactSet consensus of $ 1.017 billion.

Earnings per share of $ 2.16 beats the FactSet consensus by $ 1.79.

Net sales and EPS have beaten company expectations.

“Our inventory levels are in a good position and we continue to have strong retail sales across the range of our casual offerings, including outerwear, sportswear, sportswear, jeans, as well. than dresses and career clothes. Customer response to our fall fashion collections has been solid and we are well positioned for the holiday season with gift programs, ”Mr. Goldfarb said on the conference call.

Write to Michael Dabaie at michael.dabaie@wsj.com