Categories Earnings, LATEST, Retail

Canada Goose posts wider losses despite higher revenues in Q1

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.

canada goose
Image Courtesy: Canada Goose / Facebook post

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.

READ: 3 metrics that could seal JCPenney’s fate in Q2

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%. 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Should investors worry about Micron’s (MU) weak Q4 results and guidance?

The semiconductor industry is a rapidly growing business segment that currently thrives on the digital transformation wave. The demand for memory chips and other semiconductor products increased over the years,

What has Bed Bath & Beyond (BBBY) outlined for this fiscal year?

Shares of Bed Bath & Beyond (NASDAQ: BBBY) were up on Friday, a day after the company delivered disappointing results for the second quarter of 2022. The company reported a

NKE Earnings: Highlights of Nike’s Q1 2023 results

Nike, Inc. (NYSE: NKE) has reported a decrease in net profit for the first quarter of 2023, despite a modest increase in revenues. The company's stock suffered a big loss

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top