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Slide #12. G-III Apparel Group, Ltd. — G.H. Bass & Co. Business
G-III Apparel Group, Ltd. (NASDAQ:GIII)
G.H. Bass & Co. Business
PVH Corp. [NYSE:PVH] announced today that it has signed a definitive agreement to sell substantially all of the assets of its G.H. Bass & Co. division to G-III Apparel Group, Ltd. [NasdaqGS:GIII] for approximately $50 million in cash. The transaction is expected to close in the beginning of the fiscal fourth quarter 2013 and is subject to certain post-closing adjustments and customary closing conditions.
G-III Apparel Group designs, sources and markets a range of apparel, including outerwear, dresses, sportswear, swimwear, women's suits and women's performance wear, women's handbags, footwear, small leather goods, cold weather accessories and luggage. Co. has two segments: wholesale operations, which includes sales of products under brands licensed by Co. from third parties and sales of products under its own brands and private label brands, and sales related to the Vilebrequin business; and retail operations, which consists of Co.'s Wilsons Leather, G.H. Bass and DKNY stores operated as outlet stores, and a limited number of Calvin Klein Performance and Karl Lagerfeld Paris stores.
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Buy (3.00 out of 4)
(ranked lower than approx. 60% of all stocks covered)
Based on Zacks ABR data;
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