G-III Apparel buys back about 723,000 of its own shares
G-III Apparel Group Ltd. said Thursday it has repurchased about 723,000 of its own shares at an average price of $28.09 under its existing authorization. The owner of brands including DKNY and licenses including Calvin Klein, Tommy Hilfiger and Karl Lagerfeld Paris, purchased the shares between Dec. 14 and Dec. 27 and now has about 4.28 million shares remaining in its program. Shares were slightly higher premarket, but have fallen 18.3% in the last 12 months, while the S&P 500 has fallen 5.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.