Wells Fargo analyst Matthew Gulmi started coverage of G-III Apparel (GIII) with a Market Perform rating and a $26 price target. The analyst views it as a market leader in the manufacturing, design and distribution of women's apparel with several globally relevant owned and licensed brands in about 2,000 wholesale doors and a small retail business in less than 300 doors. Business had been robust throughout 2017-2018, but shares have been under pressure over the past 12 months due to a combination of tariff pressure, worsening performance in the North American department store channel, recent struggles at PVH (PVH) and the lack of profitability in the retail channel, he argues. While the analyst believes the majority of these issues appear to be reflected in the current share price, his concern is these headwinds could continue to weigh on both fundamentals and sentiment in the near-term.