G-III Apparel Group, Ltd.
|Company Name||G-III Apparel Group, Ltd.|
On November 30, 2022, G-III announced third-quarter operating results, disclosing that higher inventory levels caused “logistical challenges within [its] distribution centers.” As a result, the Company reported “significant” charges in the third quarter “that were above [its] expectations, which adversely impacted [its] bottom line by approximately $0.40 per diluted share.”
On this news, G-III’s stock price fell $9.66, or 44.7%, to close at $11.97 per share on December 1, 2022, thereby injuring investors.
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