From CNBC: 2024-05-16 16:34:21

Canada Goose saw its shares jump 16% after reporting earnings for the fiscal fourth quarter and projecting year-over-year sales growth for fiscal year 2025. The company reported earnings per share of 5 Canadian cents and revenue of CA$358 million. Sales in Greater China led the growth with a 29.7% increase.

The net income of Canada Goose for the fiscal fourth quarter ended March 31 swung to CA$7.6 million, or 5 Canadian cents per share, from a loss of CA$10 million. The growth was driven by domestic shopping on the Chinese mainland and mainland tourists boosting sales in Hong Kong and Macao.

Looking ahead, Canada Goose expects mid-single-digit percentage revenue growth next fiscal year, led by advances in direct-to-consumer business. Comparable store sales are projected to grow in the low single digits. The company experienced strong growth in China and Asia Pacific, while North America faced some pressure.

The upbeat performance follows Canada Goose’s announcement in March of a corporate workforce cut of 17%. This move generated about CA$20 million in productivity improvements and cost savings for the fiscal fourth quarter.



Read more at CNBC: Canada Goose (GOOS) Q4 earnings report 2024