G-III Apparel stock soars after a big earnings beat, license deal to produce Champion outerwear

Shares of G-III Apparel Group Ltd.

shot up 14.8% toward a 13-month high in premarket trading Thursday, after the fashion apparel and accessories company, with brands including DKNY, Karl Lagerfeld and Wilsons Leather, reported a big fiscal second-quarter earnings beat. The company also announced a license agreement with Hanesbrands Inc. HBI, -0.20% to produce an outerwear collection for the Champion Brand. G-III reported net income for the quarter to July 31 that fell to $16.4 million, or 35 cents a share, from $36.

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