DKNY and Donna Karan owner G-III Apparel Group GIII reported a third-quarter FY24 sales decline of 1% year-on-year to $1.07 billion, missing the analyst consensus of $1.13 billion. The gross profit rose 25.8% Y/Y to $433.41 million. Adjusted EPS of $2.78 beat the analyst consensus of $2.06. The company held $197.39 million in cash and equivalents as of the end of the quarter. "We are developing and are on track with four new growth initiatives to drive our business including the expansion of our owned Donna Karan brand, a long-term license for Nautica in North America, a master global licensing agreement for Halston, and a multi-year outerwear license for Champion," said Morris Goldfarb, G-III's Chairman and Chief Executive Officer. The company appointed Dana Perlman as Chief Growth and Operations Officer, effective January 8, 2024.