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Fly News Breaks for September 19, 2019
GIII
Sep 19, 2019 | 08:56 EDT
B. Riley FBR analyst Susan Anderson believes there is upside to G-III Apparel Group's earnings in 2020 if the company shuts down or even just restructures its retail business, Wilsons and Bass. The savings from the profit-losing retail business should more than offset the impact from China tariffs, Anderson tells investors in a research note. Given the recent hire of external consultants to help advise on the retail business, Anderson sees a high probability that management makes a 2020 "profit-accretive" decision regarding the retail business by the end of 2019. With the stock down 47% over the past year, the analyst believes G-III Apparel "represents one of the most compelling opportunities in apparel." She reiterates a Buy rating on the shares with a $33 price target.
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