Canadian Manufacturing

Canada Goose beats quarterly revenue estimates

Revenue in Canada Goose's second quarter climbed nearly 20 per cent to $232.9 million from $194.8 million in the same quarter last year.

November 5, 2021  The Canadian Press

Canada Goose Holdings Inc. beat estimates for quarterly revenue in its latest earnings even while its profit dipped compared to a year ago amid higher online sales and early wholesale orders.

The luxury parka maker says it earned a net income of $9 million or eight cents per diluted share for the quarter ended Sept. 26 compared with a profit of $10.4 million or nine cents per diluted share a year ago.

Revenue in the company’s second quarter climbed nearly 20 per cent to $232.9 million from $194.8 million in the same quarter last year, which had included $28.8 million from temporary personal protective equipment sales like masks.

On an adjusted basis, Canada Goose says it earned $13.2 million or 12 cents per diluted share, compared with an adjusted profit of $11.5 million or 10 cents per diluted share a year ago.

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Analysts on average had expected Canada Goose to post a revenue of $206.1 million and an adjusted loss of nine cents per share for the quarter, according to financial data firm Refinitiv.

Canada Goose shares climbed 18 per cent in morning trading to $59.49, up $9.08 from the previous close to $50.41.