Canada Goose Holdings Stock Falls After Wider-Than-Expected Q1 Loss

  • Canada Goose Holdings Inc GOOS reported first-quarter FY22 sales growth of 115.7% year-on-year, to C$56.3 million.
  • Global e-Commerce revenue increased by 80.8% Y/Y.
  • DTC revenue grew 182.7% Y/Y, and wholesale revenue increased 196.6%.
  • Gross profit rose 539% Y/Y to C$30.7 million with a profit margin of 54.5%.
  • The operating loss expanded to C$(60.7) million. Non-IFRS Adjusted EBIT loss widened to C$(60.2) million.
  • The company held C$305.9 million in cash and equivalents as of June 27, 2021.
  • Net loss widened Y/Y to C$(56.7) million. Loss per share was C$(0.51) versus C$(0.46) last year.
  • Non-IFRS adjusted loss per share was C$(0.45) versus C$(0.35) last year.
  • Inventory was C$404.5 million as of June 27, 2021, compared to C$428.6 million as of June 28, 2020.
  • Outlook: Canada Goose has reiterated its FY22 outlook. It expected total revenue to exceed C$1 billion in FY22.
  • For Q2, it expects low double-digit Wholesale revenue growth and DTC revenue at roughly one and a half times last year’s level.
  • Price Action: GOOS shares traded lower by 12.3% at $39.0 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceShort IdeasMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!