Canada Goose reports first quarter sales up nearly 60%, loss grows
The Made in Canada luxury apparel brand reported a revenue increase of 40.4% in Canada, and a net loss of $29.4m
TORONTO – Canada Goose Holdings Inc. reported a loss of $29.4 million in its latest quarter even as sales grew by nearly 60% compared with a year ago.
The luxury parka company says its loss amounted to 27 cents per share for the quarter ended June 30 compared with a loss of $18.7 million or 17 cents per share a year ago.
On an adjusted basis, Canada Goose says it lost 21 cents per share compared with an adjusted loss of 15 cents per share a year ago.
Revenue in what was its first quarter totalled $71.1 million, up from $44.7 million.
The company says revenue in Canada rose 40.4%, while sales climbed 15.8% in the United States and 79.7% in Europe and the rest of the world.
Revenue in Asia nearly tripled to $18.1 million from $6.6 million due to earlier shipments to international distributors in Japan and South Korea, and the contribution of operations in China.