- Canada Goose reported second-quarter earnings and revenue that topped Wall Street estimates.
- Thw winter-coat maker raised its full-year guidance.
- Shares climbed 15% following the results.
- Watch Canada Goose trade live.
Canada Goose soared Wednesday, up 15%, after reporting strong second-quarter results and raising its guidance.
The winter-coat maker earned an adjusted 0.46 Canadian dollars a share as revenue spiked 33.6% versus a year ago to 230.3 million Canadian dollars. Wall Street analysts surveyed by Bloomberg were expecting adjusted earnings of 0.26 Canadian dollars per share on revenue of 197.9 million Canadian dollars.
Direct-to-consumer revenue soared 150% year-over-year to 50.4 million Canadian dollars as well-established retail stores and e-commerce sites saw strong performance.
“Continuing the momentum of the first quarter, the results we delivered in the second quarter are exceptional,” Dani Reiss, the company’s president and CEO, said in the press release.
“With such an outstanding first half of the fiscal year, we are in a strong position ahead of our peak selling season. Our wholesale growth and DTC sales productivity further accelerated, which more than offset strategic growth investments that will carry us into the future, including opening a third manufacturing facility in Winnipeg, the build-out of our Greater China business, and the commercial launch of our DTC channel in that market.”
For the full year, Canada Goose expects revenue growth of at least 30%, up from its previous forecast of at least 20% growth. It also said it expects adjusted earnings per share to grow by at least 40%.
Shares were up 137% this year through Tuesday.
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