Farokh, more from Reuters: GIII earned 0.66 last q. This is an unbelievable bargain for a net stock.
NEW YORK, Dec 29 (Reuters) - Shares of G-III Apparel Group
Ltd. (NASDAQ:GIII) on Tuesday joined the Internet frenzy sweeping
Wall Street on word that the leather sportswear designer is
planning to launch an electronic commerce site.
G-III Apparel shares, the second most heavily traded stock
on the Nasdaq, soared 317 percent to 8-7/8 during afternoon
trading, way over its prior 52-week high of 6-7/8. It closed
yesterday at 2-1/8.
The site is
currently under construction and can be visited at
g3leather.com
G-III, which calls itself the nation's largest supplier of
leather outerwear, makes coats, jackets, pants and other
sportswear clothing under its G-III, Siena, and Colebrook & Co.
labels. Earlier this month, it posted $4.4 million, or $0.66
per share, in net earnings for its third quarter, down from
$5.6 million, or $0.80 per share, from last year. Its 1997
revenues were $120 million.
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