G-III Apparel drops on lower-than-expected annual sales and profit forecasts

Shares of Donna Karan parent G-III Apparel Group GIII.O fall 2.61% to $26.53

Company cuts FY net sales forecast to about $3.02 bln, below analysts' expectations of $3.13 bln, according to data compiled by LSEG

Expects FY adj. EPS to be between $2.55 and $2.75, below analysts' expectations of $2.90 per share

‍ FY forecast reflects macro headwinds, cautious retail partner sentiment and a projected $155 mln tariff impact - G-III

Company reports Q2 net sales of $613.3 mln and adj. EPS of $0.25, down from $644.8 mln and $0.52 per share, respectively, a year ago

YTD, stock has fallen ~18%, including session's moves