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Canada Goose stock jumps after surprise profit, revenue that rose well above forecasts

·1 min read
Canada Goose stock jumps after surprise profit, revenue that rose well above forecasts
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The U.S.-listed shares of Canada Goose Holdings Inc. rallied 2.3% in premarket trading Thursday, after the Canada-based luxury apparel maker reported a surprise fiscal fourth-quarter profit and revenue that rose well above forecasts and pre-pandemic levels, as ecommerce revenue more than doubled. Net income rose to C$2.9 million ($2.4 million), or 3 cents a share, from C$2.5 million, or 2 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came in at 1 cent, compared with the FactSet per-share loss consensus of 12 cents. Revenue jumped 48.2% to C$208.8 million ($171.8 million), beating the FactSet consensus of C$158.9 million, as global ecommerce revenue increased 123.2%. The company said revenue rose in all geographic regions except Canada, which revenue fell 6.9% amid elevated mandatory retail closures relative to other markets. "Canada Goose has shifted from recovery to growth beyond pre-pandemic levels. We achieved our largest ever fourth quarter by revenue," said Chief Executive Dani Reiss. The stock has slipped 3.6% over the past three months through Wednesday, while the S&P 500 has gained 3.3%.