What Happened:

Shares of fashion conglomerate G-III (NASDAQ:GIII) fell 16.2% in the morning session after the company reported fourth-quarter results, with revenue and EPS missing Wall Street's estimates. Its revenue guidance for the next quarter beat analysts' expectations, but looking at the company's full-year 2024 outlook, its forecasted revenue was in line, while its forecasted EPS fell short. Overall, the results could have been better.

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What is the market telling us:

G-III's shares are quite volatile and over the last year have had 15 moves greater than 5%. But moves this big are very rare even for G-III and that is indicating to us that this news had a significant impact on the market's perception of the business.

G-III is down 22% since the beginning of the year, and at $26.20 per share it is trading 26% below its 52-week high of $35.41 from December 2023. Investors who bought $1,000 worth of G-III's shares 5 years ago would now be looking at an investment worth $733.05.

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