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Canada Goose (GOOS) Shares Pop After First Earnings Since IPO
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On Friday, shares of luxury parka maker Canada Goose Holdings Inc. (GOOS - Free Report) are popping, up over 9% to $20.41 per share after the company reported a smaller-than-expected fourth-quarter loss.
For Q4, earnings were a loss of 12 cents per share (this number excludes 6 cents from non-recurring items), beating the Zacks Consensus Estimate of a loss of 15 cents per share. Adjusted net loss was $14.7 million for the quarter.
Total revenues increased 21.9% to $38.6 million, also beating our consensus estimate of $23.1 million. Gross margin expanded 950 basis points to 54.4%.
During the quarter, Canada Goose opened its first retail stores in Toronto and New York, in addition to e-commerce sites in France and the United Kingdom. Speaking of it online sales, Canada Goose’s direct-to-consumer (DTC) revenue, which includes e-commerce sales and company-owned retail store sales, increased C$115.2 million from $33 million in fiscal 2016.
“I believe our strong performance in fiscal 2017 clearly demonstrates the tremendous power of the Canada Goose brand and continued demand for our best-in-class products around the globe, as well as our ability to deliver products of the highest quality, craftsmanship and functionality,” said Dani Reiss, President and CEO.
Looking ahead at fiscal 2018, Canada Goose expects revenue growth on a percentage basis in the mid-to-high teens. The company also expects adjusted earnings per share to grow an average of over 25% per year from fiscal 2016 through fiscal 2018.
Canada Goose, known for $900 parkas with fur-trimmed hoods, hit the market with a bang back in March, and its IPO was a huge win for the company. Check out this episode of Zacks Shopping for Stocks for a look back at Canada Goose’s public debut:
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Canada Goose (GOOS) Shares Pop After First Earnings Since IPO
On Friday, shares of luxury parka maker Canada Goose Holdings Inc. (GOOS - Free Report) are popping, up over 9% to $20.41 per share after the company reported a smaller-than-expected fourth-quarter loss.
For Q4, earnings were a loss of 12 cents per share (this number excludes 6 cents from non-recurring items), beating the Zacks Consensus Estimate of a loss of 15 cents per share. Adjusted net loss was $14.7 million for the quarter.
Total revenues increased 21.9% to $38.6 million, also beating our consensus estimate of $23.1 million. Gross margin expanded 950 basis points to 54.4%.
During the quarter, Canada Goose opened its first retail stores in Toronto and New York, in addition to e-commerce sites in France and the United Kingdom. Speaking of it online sales, Canada Goose’s direct-to-consumer (DTC) revenue, which includes e-commerce sales and company-owned retail store sales, increased C$115.2 million from $33 million in fiscal 2016.
“I believe our strong performance in fiscal 2017 clearly demonstrates the tremendous power of the Canada Goose brand and continued demand for our best-in-class products around the globe, as well as our ability to deliver products of the highest quality, craftsmanship and functionality,” said Dani Reiss, President and CEO.
Looking ahead at fiscal 2018, Canada Goose expects revenue growth on a percentage basis in the mid-to-high teens. The company also expects adjusted earnings per share to grow an average of over 25% per year from fiscal 2016 through fiscal 2018.
Canada Goose, known for $900 parkas with fur-trimmed hoods, hit the market with a bang back in March, and its IPO was a huge win for the company. Check out this episode of Zacks Shopping for Stocks for a look back at Canada Goose’s public debut:
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>