Proactive Investors - Canada Goose Holdings Inc (NYSE:TSX:GOOS, TSX:GOOS) shares took flight on Thursday after the luxury winter apparel brand’s fourth-quarter revenue forecast topped Wall Street's expectations.
For the current quarter, the company projected total revenue in the range of C$310 million to C$330 million, above expectations of C$301 million per LSEG data.
Adjusted earnings per share (EPS) for 4Q are projected to be in the range of C$0.02 and C$0.13, with analysts expecting C$0.08.
For 3Q, the parka-maker reported a 6% year-over-year increase in revenue to C$609.9 million driven by robust growth in the Asia Pacific region.
Asia Pacific revenue grew 62% year-over-year while it declined by 26% in Europe, the Middle East and Africa (EMEA) and 14% in North America as decreased eCommerce and wholesale revenue were partially offset by new store contributions.
Its quarterly gross profit grew 8% to C$449.7 million while adjusted earnings per share were C$1.37, compared to C$1.27 in the year-ago quarter.
“Our third quarter results were in line with our guidance, highlighted by progress across our strategic priorities, including robust growth in the Asia Pacific region, increased revenue across categories, with particular strength in apparel, the delivery of elevated experiences across all touchpoints, and increased efficiencies driven by our transformation initiatives," Canada Goose CEO Dani Reiss said in a statement.
"While we continue to operate in a challenging consumer spending environment, we are encouraged by our holiday performance, which saw record traffic levels and strong revenue generated during key consumer moments.”
Canada Goose’s Nasdaq-listed shares added 6.8% at US$12.80 late morning on Thursday, while its Toronto-listed stock also added 6.8% at C$17.22.