Canada Goose Holdings Inc. (NYSE: GOOS) on Wednesday reported a wider-than-expected loss on revenues that were higher than the street consensus for the first quarter of 2020. Net revenue rose 59.1% to CAD 71.1 million (approx. $53.6 million), above the average analysts’ expectation of $50.3 million.
Revenue rose by 40.4% in Canada, 15.8% in the United States and 79.7% in Europe and Rest of World.
Adjusted net loss for the quarter widened by 6 cents to CAD 0.21 (approx. $0.16) per share, even as analysts were expecting a loss of just $0.07 per share shares.
GOOS shares fell 1.4% during pre-market trading hours on Thursday. The stock is trading almost flat in the year-to-date period.
CEO Dani Reiss said, “The affinity and desire we have seen for our seasonally relevant lightweight offerings tells us our product expansion is working, and combined with the volume of highly engaged consumers looking to get ahead of the upcoming Fall / Winter season, we believe our business has never been stronger as we report our smallest fiscal quarter.”
The company reiterated its outlook for fiscal 2020. For this period, Canada Goose expects annual revenue growth of at least 20% along with annual growth in adjusted EPS of at least 25%.
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results
Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a
AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates
Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion