G-III Apparel (GIII) 10-Q 4 Dec 15 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 31, 2015	Dec. 01, 2015
Document And Entity Information Abstract
Entity Registrant Name	G III APPAREL GROUP LTD /DE/
Entity Central Index Key	821,002
Trading Symbol	giii
Current Fiscal Year End Date	--01-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		45,537,167
Document Type	10-Q
Document Period End Date	Oct. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015	Oct. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 54,298	$ 128,354	$ 49,158
Accounts receivable, net of allowances for doubtful accounts and sales discounts of $77,606, $60,685 and $53,441, respectively	537,458	195,678	450,259
Inventories	510,374	426,180	436,367
Prepaid income taxes		6,507
Deferred income taxes, net	16,056	16,072	16,335
Prepaid expenses and other current assets	14,799	23,118	17,833
Total current assets	1,132,985	795,909	969,952
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	25,494
PROPERTY AND EQUIPMENT, NET	101,137	81,671	79,583
OTHER ASSETS	26,380	27,721	28,969
OTHER INTANGIBLES, NET	11,461	13,075	13,497
TRADEMARKS, NET	68,871	73,255	75,815
GOODWILL	50,164	52,130	53,273
TOTAL ASSETS	1,416,492	1,043,761	1,221,089
CURRENT LIABILITIES
Notes payable	171,840		153,853
Income taxes payable	34,444		24,117
Accounts payable	175,056	174,541	161,850
Accrued expenses	105,287	63,665	89,877
Total current liabilities	486,627	238,206	429,697
DEFERRED INCOME TAXES, NET	18,770	20,471	20,585
CONTINGENT PURCHASE PRICE PAYABLE		973	1,015
OTHER NON-CURRENT LIABILITIES	26,099	22,853	21,548
TOTAL LIABILITIES	$ 531,496	$ 282,503	$ 472,845
STOCKHOLDERS' EQUITY
Preferred stock; 1,000 shares authorized; No shares issued and outstanding
Common stock - $.01 par value; 120,000 shares authorized; 46,204, 45,928 and 45,942 shares issued	$ 229	$ 229	$ 229
Additional paid-in capital	354,065	328,874	329,944
Accumulated other comprehensive loss	(19,183)	(10,105)	(1,969)
Retained earnings	552,528	446,159	423,939
Common stock held in treasury, at cost - 667, 984 and 984 shares respectively	(2,643)	(3,899)	(3,899)
TOTAL STOCKHOLDERS' EQUITY	884,996	761,258	748,244
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,416,492	$ 1,043,761	$ 1,221,089

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015	Oct. 31, 2014
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts and sales discounts on accounts receivable (in dollars)	$ 77,606	$ 53,441	$ 60,685
Preferred stock, shares authorized	1,000,000	1,000,000	1,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	120,000,000	120,000,000	120,000,000
Common stock, shares issued	46,204,000	45,942,000	45,928,000
Treasury stock, shares	667,000	984,000	984,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Income Statement [Abstract]
Net sales	$ 909,865	$ 812,330	$ 1,816,714	$ 1,602,532
Cost of goods sold	572,808	517,078	1,156,890	1,028,762
Gross profit	337,057	295,252	659,824	573,770
Selling, general and administrative expenses	191,044	176,383	469,560	430,433
Depreciation and amortization	6,611	5,589	18,213	14,770
Operating profit	139,402	113,280	172,051	128,567
Other income	896	11,950	896	11,950
Interest and financing charges, net	(1,955)	(1,988)	(4,107)	(5,988)
Income before income taxes	138,343	123,242	168,840	134,529
Income tax expense	51,187	43,469	62,471	47,758
Net income	87,156	79,773	106,369	86,771
Add: Loss attributable to noncontrolling interest		842		1,370
Income attributable to G-III	$ 87,156	$ 80,615	$ 106,369	$ 88,141
Basic:
Net income per common share (in dollars per share)	$ 1.92	$ 1.80	$ 2.36	$ 2.06
Weighted average number of shares outstanding (in shares)	45,311	44,822	45,117	42,740
Diluted:
Net income per common share (in dollars per share)	$ 1.87	$ 1.76	$ 2.29	$ 2.02
Weighted average number of shares outstanding (in shares)	46,526	45,724	46,392	43,682
Net income attributable to G-III	$ 87,156	$ 80,615	$ 106,369	$ 88,141
Other comprehensive income (loss):
Foreign currency translation adjustments	929	(7,805)	(9,078)	(8,134)
Other comprehensive income (loss)	929	(7,805)	(9,078)	(8,134)
Comprehensive income	$ 88,085	$ 72,810	$ 97,291	$ 80,007

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Cash flows from operating activities
Net income	$ 106,369	$ 86,771
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	18,213	14,770
Loss on disposal of fixed assets	338	275
Gain on repurchase of unsecured promissory notes		(1,893)
Change in contingent purchase price payable	(899)	(4,186)
Gain on the sale of joint venture interest		(2,365)
Equity loss in unconsolidated affiliate	3
Equity based compensation	11,430	8,431
Tax benefit from exercise/vesting of equity awards	(10,496)	(6,978)
Deferred financing charges	607	657
Changes in operating assets and liabilities:
Accounts receivable, net	(339,418)	(291,190)
Inventories	(84,699)	(79,654)
Income taxes, net	40,954	30,889
Prepaid expenses and other current assets	8,109	2,849
Other assets, net	(684)	(5,265)
Accounts payable, accrued expenses and other liabilities	54,917	84,413
Net cash used in operating activities	(195,256)	(162,476)
Cash flows from investing activities
Investment in unconsolidated affiliate	(25,490)
Capital expenditures	(34,315)	(33,892)
Proceeds from sale of interest in joint venture		2,695
Proceeds from sale of a retail store		517
Net cash used in investing activities	(59,805)	(30,680)
Cash flows from financing activities
Proceeds from sale of common stock, net		128,686
Proceeds from borrowings, net	171,840	105,814
Repurchase of unsecured promissory notes		(17,755)
Proceeds from exercise of equity awards	376	665
Excess tax benefit from exercise/vesting of equity awards	10,496	6,978
Taxes paid for net share settlement		(4,316)
Net cash provided by financing activities	182,712	220,072
Foreign currency translation adjustments	(1,707)	151
Net increase (decrease) in cash and cash equivalents	(74,056)	27,067
Cash and cash equivalents at beginning of period	128,354	22,091
Cash and cash equivalents at end of period	54,298	49,158
Cash paid during the year for:
Interest	3,440	5,314
Income taxes	$ 7,203	$ 5,146

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, manufactures and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as footwear, luggage and women’s handbags, small leather goods and cold weather accessories. The Company also operates retail stores. The Company consolidates the accounts of all its wholly-owned and majority-owned subsidiaries. All material intercompany balances and transactions have been eliminated. Vilebrequin International SA (“Vilebrequin”), a Swiss corporation, and Karl Lagerfeld North America BV (“KLNA”) a joint venture, report results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. The results for the nine month period ended October 31, 2015 are not necessarily indicative of the results expected for the entire fiscal year, given the seasonal nature of the Company’s business. The accompanying financial statements included herein are unaudited. All adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the financial position, results of operations and cash flows for the interim period presented have been reflected. The accompanying financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2015 filed with the Securities and Exchange Commission. On April 1, 2015, the Board of Directors approved a two-for-one stock split of the Company’s outstanding shares of common stock, to be effected in the form of a stock dividend. The stock dividend was paid to stockholders of record as of the close of market on April 20, 2015 and was effected on May 1, 2015. All share and per share information has been retroactively adjusted to reflect this stock split. The Company’s international subsidiaries use different functional currencies, which are the local selling currency. In accordance with the authoritative guidance, assets and liabilities of the Company’s foreign operations are translated from foreign currency into U.S. dollars at period-end rates, while income and expenses are translated at the weighted-average exchange rates for the period. The related translation adjustments are reflected as a foreign currency translation adjustment in accumulated other comprehensive income (loss) within stockholders’ equity. Certain reclassifications have been made to the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statement of Cash Flows for the prior year period to present that information on a basis consistent with the current year.

Equity Investment

Equity Investment	9 Months Ended
	Oct. 31, 2015
Equity Investment [Abstract]
Equity Investment	Note 2 – Equity Investment In June 2016, the Company entered into a joint venture agreement with Karl Lagerfeld Group BV (“KLBV”). The Company paid to KLBV $25.0 million for a 49% ownership interest in KLNA. KLNA holds brand rights to all Karl Lagerfeld trademarks for all consumer products (except eyewear, fragrance, cosmetics, watches, jewelry, and hospitality services) and apparel in the United States and Canada, as well as, an exclusive, irrevocable, royalty-free license to use the trademarks in Mexico with respect to the same products. The Company accounts for its investment in KLNA using the equity method of accounting.

Other Income

Other Income	9 Months Ended
	Oct. 31, 2015
Other Income and Expenses [Abstract]
Other Income	Note 3 – Other Income For the three and nine month periods ended October 31, 2015, other income was $899,000. In addition to the aggregate consideration paid at closing, the purchase agreement relating to the acquisition of Vilebrequin provided for contingent consideration of up to €22.5 million (approximately $27.9 million using the acquisition date exchange rate) based upon Vilebrequin achieving certain performance objectives related to the growth of its business over the three years ending December 31, 2015. As of the acquisition date, the estimated fair value of the contingent consideration payable was $5.5 million (based on the acquisition date exchange rate). The Company is required to assess the probability of Vilebrequin achieving these performance objectives which requires management to make certain estimates and judgments based on forecasts of future performance. As of October 31, 2015, the fair value of the liability was estimated using a discounted cash flow technique with significant inputs that are not observable in the market and thus represents a Level 3 fair value measurement as defined in the FASB’s Accounting Standards Codification (ASC) 820 - Fair Value Measurements and Disclosures. The significant inputs in the Level 3 measurement not supported by market activity included the probability assessment of expected future cash flows related to Vilebrequin until the end of the earnout period, appropriately discounted and calculated in accordance with the terms of the purchase agreement. Based upon Vilebrequin’s most recent forecast and the related discounted cash flows, the Company has revised its prior estimate of the fair value of the contingent consideration payable and wrote off the remainder of the estimated outstanding contingent consideration, which resulted in a gain in the current period of €800,000 (approximately $899,000 using Vilebrequin’s current reporting period end exchange rate). For the three and nine month periods ended October 31, 2014, other income was $12.0 million consisting of a $4.2 million gain with respect to the revised estimated contingent consideration payable in connection with the acquisition of Vilebrequin, $3.5 million received as compensation for the early termination of the right to operate Calvin Klein Performance stores in Japan, Taiwan and Singapore, a $2.4 million gain from the sale of the Company’s interest in a joint venture that operated Calvin Klein Performance stores in China and a $1.9 million gain related to the repurchase, at a discount, of the unsecured promissory notes issued as part of the consideration for the acquisition of Vilebrequin.

Inventories

Inventories	9 Months Ended
	Oct. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Note 4 – Inventories Wholesale inventories are stated at the lower of cost (determined by the first-in, first out method) or market which comprises a significant portion of the Company’s inventory. Retail inventories are valued at the lower of cost or market as determined by the retail inventory method. Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or market. Inventories consist of: October 31, October 31, January 31, (In thousands) Finished goods $ 507,602 $ 429,531 $ 417,332 Raw materials and work-in-process 2,772 6,836 8,848 $ 510,374 $ 436,367 $ 426,180

Net Income per Common Share

Net Income per Common Share	9 Months Ended
	Oct. 31, 2015
Earnings Per Share [Abstract]
Net Income per Common Share	Note 5 – Net Income per Common Share Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock awards and stock options outstanding, during the period. In addition, all share based payments outstanding that vest based on the achievement of performance and/or market price conditions, and for which the respective performance and/or market price conditions have not been achieved, have been excluded from the diluted per share calculation. Approximately 66,000 and 533,000 shares of common stock have been excluded from the diluted net income per share calculation for the three months ended October 31, 2015 and 2014, respectively. Approximately 134,000 and 685,000 shares of common stock have been excluded from the diluted net income per share calculation for the nine months ended October 31, 2015 and 2014, respectively. For the nine months ended October 31, 2015 and 2014, 262,830 and 606,236 shares of common stock, respectively, were issued in connection with the exercise or vesting of equity awards. In addition, the Company re-issued 317,143 treasury shares in connection with the exercise or vesting of equity awards that occurred in October 2015. The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share, adjusted for the two-for-one split of the Company’s common stock effected on May 1, 2015: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In thousands, except per share amounts) Net income attributable to G-III $ 87,156 $ 80,615 $ 106,369 $ 88,141 Basic net income per share: Basic common shares 45,311 44,822 45,117 42,740 Basic net income per share $ 1.92 $ 1.80 $ 2.36 $ 2.06 Diluted net income per share: Basic common shares 45,311 44,822 45,117 42,740 Restricted stock awards and stock options 1,215 902 1,275 942 Diluted common shares 46,526 45,724 46,392 43,682 Diluted net income per share $ 1.87 $ 1.76 $ 2.29 $ 2.02

Notes Payable

Notes Payable	9 Months Ended
	Oct. 31, 2015
Debt Disclosure [Abstract]
Notes Payable	Note 6 – Notes Payable The Company’s credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent for a group of lenders, is a five year senior secured credit facility through August 2017 providing for borrowings in the aggregate principal amount of up to $450 million. Amounts available under the credit agreement are subject to borrowing base formulas and other advances as specified in the credit agreement. As of October 31, 2015, there was $264.9 million available under the credit agreement. Borrowings bear interest, at the Company’s option, at LIBOR plus a margin of 1.5% to 2.0% or prime plus a margin of 0.5% to 1.0%, with the applicable margin determined based on availability under the credit agreement. The credit agreement requires the Company to maintain a minimum fixed charge coverage ratio, as defined, and, under certain circumstances, permits the Company to make payments for cash dividends, stock redemptions and share repurchases subject to compliance with certain covenants. As of October 31, 2015, the Company was in compliance with these covenants. The credit agreement is secured by all of the assets of G-III Apparel Group, Ltd. and its subsidiaries, G-III Leather Fashions, Inc., Riviera Sun, Inc., CK Outerwear, LLC, Andrew & Suzanne Company Inc., AM Retail Group, Inc., G-III Apparel Canada ULC, G-III License Company, LLC and AM Apparel Holdings, Inc. Notes payable under the Company’s credit agreement were $171.8 million at October 31, 2015 and $153.9 million at October 31, 2014.

Segments

Segments	9 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Segments	Note 7 – Segments The Company’s reportable segments are business units that offer products through different channels of distribution. Commencing with the first quarter of fiscal 2016, the Company changed its segment reporting to two reportable segments: wholesale operations and retail operations. This change in the Company’s reportable segments is intended to better represent how the Company’s resources are allocated and its performance is assessed by its Chief Operating Decision Maker. The wholesale operations segment mainly consists of the Company’s former licensed products and non-licensed products segments and includes sales of products under brands licensed by the Company from third parties, as well as sales of products under the Company’s own brands and private label brands. The retail operations segment consists primarily of the Wilsons Leather and G.H. Bass stores, as well as a limited number of Calvin Klein Performance stores. The following information, in thousands, is presented for the three month and nine month periods indicated below: Three Months Ended October 31, 2015 Wholesale Retail Elimination (1) Total Net sales $ 807,034 $ 124,669 $ (21,838 ) $ 909,865 Cost of goods sold 527,144 67,502 (21,838 ) 572,808 Gross profit 279,890 57,167 — 337,057 Selling, general and administrative 133,127 57,917 — 191,044 Depreciation and amortization 4,482 2,129 — 6,611 Operating profit (loss) $ 142,281 $ (2,879 ) $ — $ 139,402 Three Months Ended October 31, 2014 Wholesale Retail Elimination (1) Total Net sales $ 722,135 $ 130,101 $ (39,906 ) $ 812,330 Cost of goods sold 485,085 71,899 (39,906 ) 517,078 Gross profit 237,050 58,202 — 295,252 Selling, general and administrative 118,991 57,392 — 176,383 Depreciation and amortization 3,511 2,078 — 5,589 Operating profit (loss) $ 114,548 $ (1,268 ) $ — $ 113,280 Nine Months Ended October 31, 2015 Wholesale Retail Elimination (1) Total Net sales $ 1,550,979 $ 338,695 $ (72,960 ) $ 1,816,714 Cost of goods sold 1,047,861 181,989 (72,960 ) 1,156,890 Gross profit 503,118 156,706 — 659,824 Selling, general and administrative 304,801 164,759 — 469,560 Depreciation and amortization 12,470 5,743 — 18,213 Operating profit (loss) $ 185,847 $ (13,796 ) $ — $ 172,051 Nine Months Ended October 31, 2014 Wholesale Retail Elimination (1) Total Net sales $ 1,349,069 $ 324,522 $ (71,059 ) $ 1,602,532 Cost of goods sold 922,892 176,929 (71,059 ) 1,028,762 Gross profit 426,177 147,593 — 573,770 Selling, general and administrative 268,911 161,522 — 430,433 Depreciation and amortization 9,657 5,113 — 14,770 Operating profit (loss) $ 147,609 $ (19,042 ) $ — $ 128,567 (1) Represents intersegment sales to the Company’s retail operations. The total assets for each of the Company’s reportable segments are as follows: October 31, 2015 October 31, 2014 January 31, 2015 (In thousands) Wholesale $ 1,062,754 $ 935,509 $ 681,522 Retail 241,180 198,579 182,363 Corporate 112,558 87,001 179,876 Total Assets $ 1,416,492 $ 1,221,089 $ 1,043,761

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Oct. 31, 2015
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 8 – Recent Accounting Pronouncements In September 2015, the FASB issued Accounting Standard Update (“ASU”) 2015-16, “ Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments In July 2015, the FASB issued ASU 2015-11, “ Inventory (Topic 330): Simplifying the Measurement of Inventory In April 2015, the FASB issued ASU 2015-05, “ Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015, the FASB issued ASU 2015-03, “ Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 9 – Subsequent Events On December 2, 2015, the Company announced that its Board of Directors had reapproved and increased the previously authorized share repurchase program. There were 3,750,000 shares available under the prior program which the Board increased to 5,000,000 shares. The timing and actual number of shares repurchased, if any, will depend on a number of factors, including market conditions and prevailing stock prices, and are subject to compliance with certain covenants contained in the Company’s loan agreement. Share repurchases may take place on the open market, in privately negotiated transactions or by other means, and would be made in accordance with applicable securities laws. The Company currently has approximately 45,537,000 shares of common stock outstanding.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 31, 2015
Inventory Disclosure [Abstract]
Schedule of inventories	October 31, 2015 October 31, 2014 January 31, 2015 (In thousands) Finished goods $ 507,602 $ 429,531 $ 417,332 Raw materials and work-in-process 2,772 6,836 8,848 $ 510,374 $ 436,367 $ 426,180

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	9 Months Ended
	Oct. 31, 2015
Earnings Per Share [Abstract]
Schedule of reconciliation between basic and diluted net income per share	Three Months Ended October 31, Nine Months Ended October 31, 2015 2014 2015 2014 (In thousands, except per share amounts) Net income attributable to G-III $ 87,156 $ 80,615 $ 106,369 $ 88,141 Basic net income per share: Basic common shares 45,311 44,822 45,117 42,740 Basic net income per share $ 1.92 $ 1.80 $ 2.36 $ 2.06 Diluted net income per share: Basic common shares 45,311 44,822 45,117 42,740 Restricted stock awards and stock options 1,215 902 1,275 942 Diluted common shares 46,526 45,724 46,392 43,682 Diluted net income per share $ 1.87 $ 1.76 $ 2.29 $ 2.02

Segments (Tables)

Segments (Tables)	9 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Schedule of information regarding reportable segments	Three Months Ended October 31, 2015 Wholesale Retail Elimination (1) Total Net sales $ 807,034 $ 124,669 $ (21,838 ) $ 909,865 Cost of goods sold 527,144 67,502 (21,838 ) 572,808 Gross profit 279,890 57,167 — 337,057 Selling, general and administrative 133,127 57,917 — 191,044 Depreciation and amortization 4,482 2,129 — 6,611 Operating profit (loss) $ 142,281 $ (2,879 ) $ — $ 139,402 Three Months Ended October 31, 2014 Wholesale Retail Elimination (1) Total Net sales $ 722,135 $ 130,101 $ (39,906 ) $ 812,330 Cost of goods sold 485,085 71,899 (39,906 ) 517,078 Gross profit 237,050 58,202 — 295,252 Selling, general and administrative 118,991 57,392 — 176,383 Depreciation and amortization 3,511 2,078 — 5,589 Operating profit (loss) $ 114,548 $ (1,268 ) $ — $ 113,280 Nine Months Ended October 31, 2015 Wholesale Retail Elimination (1) Total Net sales $ 1,550,979 $ 338,695 $ (72,960 ) $ 1,816,714 Cost of goods sold 1,047,861 181,989 (72,960 ) 1,156,890 Gross profit 503,118 156,706 — 659,824 Selling, general and administrative 304,801 164,759 — 469,560 Depreciation and amortization 12,470 5,743 — 18,213 Operating profit (loss) $ 185,847 $ (13,796 ) $ — $ 172,051 Nine Months Ended October 31, 2014 Wholesale Retail Elimination (1) Total Net sales $ 1,349,069 $ 324,522 $ (71,059 ) $ 1,602,532 Cost of goods sold 922,892 176,929 (71,059 ) 1,028,762 Gross profit 426,177 147,593 — 573,770 Selling, general and administrative 268,911 161,522 — 430,433 Depreciation and amortization 9,657 5,113 — 14,770 Operating profit (loss) $ 147,609 $ (19,042 ) $ — $ 128,567 (1) Represents intersegment sales to the Company’s retail operations.
Schedule of total assets for each reportable segments	October 31, 2015 October 31, 2014 January 31, 2015 (In thousands) Wholesale $ 1,062,754 $ 935,509 $ 681,522 Retail 241,180 198,579 182,363 Corporate 112,558 87,001 179,876 Total Assets $ 1,416,492 $ 1,221,089 $ 1,043,761

Basis of Presentation (Detail T

Basis of Presentation (Detail Textuals)	1 Months Ended
	May. 01, 2015
Accounting Policies [Abstract]
Stock split of common stock	two-for-one

Equity Investment (Detail Textu

Equity Investment (Detail Textuals) $ in Thousands	9 Months Ended
	Oct. 31, 2015USD ($)
Investment Holdings [Line Items]
Purchase price consideration	$ 25,490
Karl Lagerfeld Group BV ("KLBV") | Karl Lagerfeld North America ("KLNA")
Investment Holdings [Line Items]
Purchase price consideration	$ 25,000
Percentage of ownership interest	49.00%

Other Income (Detail Textuals)

Other Income (Detail Textuals)	3 Months Ended		9 Months Ended
	Oct. 31, 2015USD ($)	Oct. 31, 2014USD ($)	Oct. 31, 2015USD ($)	Oct. 31, 2015EUR (€)	Oct. 31, 2014USD ($)	Oct. 31, 2015EUR (€)	Jan. 31, 2015USD ($)
Business Acquisition [Line Items]
Other income	$ 896,000	$ 11,950,000	$ 896,000		$ 11,950,000
Maximum contingent consideration		1,015,000			1,015,000		$ 973,000
Estimated outstanding contingent consideration gain in current period			(899,000)		(4,186,000)
Gain on repurchase of unsecured promissory notes					1,893,000
Vilebrequin
Business Acquisition [Line Items]
Other income	899,000	12,000,000	899,000		12,000,000
Maximum contingent consideration	27,900,000		27,900,000			€ 22,500,000
Estimated fair value of contingent consideration payable	$ 5,500,000		5,500,000
Estimated outstanding contingent consideration gain in current period			$ 899,000	€ 800,000
Gain on revised estimated contingent consideration payable		4,200,000			4,200,000
Compensation for termination of agreement		3,500,000			3,500,000
Proceeds from the sale of interest in joint venture		2,400,000			2,400,000
Gain on repurchase of unsecured promissory notes		$ 1,900,000			$ 1,900,000

Inventories - Summary of invent

Inventories - Summary of inventories (Details) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015	Oct. 31, 2014
Inventory Disclosure [Abstract]
Finished goods	$ 507,602	$ 417,332	$ 429,531
Raw materials and work-in-process	2,772	8,848	6,836
Inventories	$ 510,374	$ 426,180	$ 436,367

Net Income per Common Share - R

Net Income per Common Share - Reconciliation between basic and diluted net income per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Earnings Per Share [Abstract]
Net income attributable to G-III	$ 87,156	$ 80,615	$ 106,369	$ 88,141
Basic net income per share:
Basic common shares	45,311	44,822	45,117	42,740
Basic net income per share (in dollars per share)	$ 1.92	$ 1.80	$ 2.36	$ 2.06
Diluted net income per share:
Basic common shares	45,311	44,822	45,117	42,740
Restricted stock awards and stock options	1,215	902	1,275	942
Diluted common shares	46,526	45,724	46,392	43,682
Diluted net income per share (in dollars per share)	$ 1.87	$ 1.76	$ 2.29	$ 2.02

Net Income per Common Share (De

Net Income per Common Share (Detail Textuals) - shares	1 Months Ended	3 Months Ended		9 Months Ended
	May. 01, 2015	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Earnings Per Share [Abstract]
Common stock excluded from the diluted net income per share calculation		66,000	533,000	134,000	685,000
Common stock issued in connection with exercise or vesting of equity awards				262,830	606,236
Treasury stock issued in connection with exercise or vesting of equity awards				317,143
Stock split of common stock	two-for-one

Notes Payable (Detail Textuals)

Notes Payable (Detail Textuals) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Debt Instrument [Line Items]
Notes payable under credit agreement	$ 171,840	$ 153,853
Senior secured credit facility
Debt Instrument [Line Items]
Term of senior secured credit facility	5 years
Senior secured credit facility	$ 450,000
Amount available under credit agreement	$ 264,900
Senior secured credit facility | LIBOR plus | Minimum
Debt Instrument [Line Items]
Spread interest rate	1.50%
Senior secured credit facility | LIBOR plus | Maximum
Debt Instrument [Line Items]
Spread interest rate	2.00%
Senior secured credit facility | Prime plus | Minimum
Debt Instrument [Line Items]
Spread interest rate	0.50%
Senior secured credit facility | Prime plus | Maximum
Debt Instrument [Line Items]
Spread interest rate	1.00%

Segments - Information regardin

Segments - Information regarding reportable segments (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Segment Reporting Information [Line Items]
Net sales		$ 909,865	$ 812,330	$ 1,816,714	$ 1,602,532
Cost of goods sold		572,808	517,078	1,156,890	1,028,762
Gross profit		337,057	295,252	659,824	573,770
Selling, general and administrative		191,044	176,383	469,560	430,433
Depreciation and amortization		6,611	5,589	18,213	14,770
Operating profit (loss)		139,402	113,280	172,051	128,567
Operating Segments | Wholesale
Segment Reporting Information [Line Items]
Net sales		807,034	722,135	1,550,979	1,349,069
Cost of goods sold		527,144	485,085	1,047,861	922,892
Gross profit		279,890	237,050	503,118	426,177
Selling, general and administrative		133,127	118,991	304,801	268,911
Depreciation and amortization		4,482	3,511	12,470	9,657
Operating profit (loss)		142,281	114,548	185,847	147,609
Operating Segments | Retail
Segment Reporting Information [Line Items]
Net sales		124,669	130,101	338,695	324,522
Cost of goods sold		67,502	71,899	181,989	176,929
Gross profit		57,167	58,202	156,706	147,593
Selling, general and administrative		57,917	57,392	164,759	161,522
Depreciation and amortization		2,129	2,078	5,743	5,113
Operating profit (loss)		(2,879)	(1,268)	(13,796)	(19,042)
Elimination
Segment Reporting Information [Line Items]
Net sales	[1]	(21,838)	(39,906)	(72,960)	(71,059)
Cost of goods sold	[1]	$ (21,838)	$ (39,906)	$ (72,960)	$ (71,059)
Gross profit	[1]
Selling, general and administrative	[1]
Depreciation and amortization	[1]
Operating profit (loss)	[1]
[1]	Represents intersegment sales to the Company's retail operations.

Segments - Information of total

Segments - Information of total assets for company's reportable segments (Details 1) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015	Oct. 31, 2014
Segment Reporting Information [Line Items]
Total Assets	$ 1,416,492	$ 1,043,761	$ 1,221,089
Wholesale
Segment Reporting Information [Line Items]
Total Assets	1,062,754	681,522	935,509
Retail
Segment Reporting Information [Line Items]
Total Assets	241,180	182,363	198,579
Corporate
Segment Reporting Information [Line Items]
Total Assets	$ 112,558	$ 179,876	$ 87,001

Segments (Detail Textuals)

Segments (Detail Textuals)	9 Months Ended
	Oct. 31, 2015Segment
Segment Reporting [Abstract]
Number of reportable segments commencing with first quarter of fiscal 2016	2

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals) - Subsequent event - Share Repurchase Program	Dec. 02, 2015shares
Subsequent Event [Line Items]
Number of shares authorized to be repurchased under prior program	3,750,000
Number of increased authorized shares to be repurchased	5,000,000
Common stock, shares outstanding	45,537,000