G-III APPAREL GROUP, LTD. (NASDAQ:GIII) Files An 8-K Results of Operations and Financial Condition
Item 2.02
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RESULTS OF OPERATIONS AND FINANCIAL CONDITION. |
On January 5, 2017, the G-III Apparel Group issued a press
release to announce an update to its fourth quarter and full
fiscal year ended January 31, 2017 net sales and net income
estimates.
A copy of the Companys January 5, 2017 press release is being
furnished as Exhibit 99.1 to this Current Report on Form 8-K.
| Item 8.01 | OTHER EVENTS. |
On January 5, 2017, the Board of Directors (the Board) of G-III
Apparel Group, Ltd. approved a Director Selection and
Qualification Standards and Resignation Policy (the Director
Policy). The Director Policy describes the Boards criteria for
selecting director nominees and the roles of the Board and the
Nominating and Corporate Governance Committee in evaluating
director independence and qualifications. In addition, the
Director Policy provides that any nominee for director in an
uncontested election who receives a greater number of votes
withheld from his or her election than votes for his or her
election must tender a written resignation to the Board. The
Nominating and Corporate Governance Committee will consider the
resignation and make a recommendation to the Board as to whether
or not to accept or reject the resignation. Thereafter, the Board
will deliberate and determine the action to be taken with respect
to the tendered resignation. Following the Boards determination,
the Company will promptly publicly disclose the Boards decision
of whether or not to accept the resignation and the reasons for
the decision. A copy of the Director Policy will be available in
the Investor Relations section of the Companys website at
http://www.g-iii.com.
| Item 9.01 | Financial Statements and Exhibits. |
| (a) | Financial Statements of Businesses Acquired. |
None.
| (b) | Pro Forma Financial Information. |
None.
| (c) | Shell Company Transactions |
None.
| (d) | Exhibits. |
| 99.1 |
Press release of G-III Apparel Group, Ltd., dated January 5, 2017. |
Limitation on Incorporation by Reference
In accordance with General Instruction B.2 of Form 8-K, the
information reported under Item 2.02 shall not be deemed filed
for purposes of Section 18 of the Securities Exchange Act of
1934, nor shall it be deemed incorporated by reference in any
filing under the Securities Act of 1933 or the Securities
Exchange Act of 1934, except as shall be expressly set forth by
specific reference in such a filing.
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About G-III APPAREL GROUP, LTD. (NASDAQ:GIII)
G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage. The Company’s owned brands include Donna Karan, DKNY, DKNY Jeans, Vilebrequin, G-III Sports by Carl Banks, Eliza J, Black Rivet and Jessica Howard. It has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan and Dockers brands. Through its team sports business, it has licenses with the National Football League, National Basketball Association, Major League Baseball and National Hockey League. It also operates retail stores under the Donna Karan, Wilsons Leather, Bass, G.H. Bass & Co., Vilebrequin and Calvin Klein Performance names. G-III APPAREL GROUP, LTD. (NASDAQ:GIII) Recent Trading Information
G-III APPAREL GROUP, LTD. (NASDAQ:GIII) closed its last trading session down -0.85 at 27.80 with 3,658,585 shares trading hands.
