G-III Apparel announced on Thursday sales for the second quarter fell 5% to $613.3 million, as the U.S. fashion group to lowered its full-year guidance, citing macro-economic headwinds.

The New York-based company said net income for the three months ending July 31 was slashed to $10.9 million, or $0.25 per diluted share, compared to $24.2 million, or $0.53 per diluted share, in the prior year’s quarter.

Despite the quarterly drop, the company said it exceeded expectations across both net sales and earnings during the quarter, driven by the strong momentum of its fashion portfolio, led by DKNY, Donna Karan, Karl Lagerfeld , and Vilebrequin.

"These results highlight our ability to execute on our strategic priorities and leverage our powerful corporate platform to maximize the full pot

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