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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canada Goose Holdings Inc.    GOOS   CA1350861060

CANADA GOOSE HOLDINGS INC.

(GOOS)
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Canada Goose lowers reliance on department stores in recovery push

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06/03/2020 | 11:26am EDT
A sign of Canada Goose is pictured outside its store in Beijing's Sanlitun area

Canada Goose Holdings Inc said on Wednesday it would limit shipments to department stores and focus on its own outlets and website to shore up profit margins, as it looks to cushion the blow from the COVID-19 pandemic.

As fashion capitals across the world start to reopen amid easing of coronavirus-led restrictions, the luxury winterwear maker said it would base its recovery at its own retail outlets for the rest of the year as the company can sell coats and down jackets at triple the profit.

The company's shares, which have fallen over 40% this year, rose over 11% on Wednesday, despite a projection of little revenue in the current quarter.

Department stores have been crushed by forced closures as countries looked to curb the spread of the coronavirus. With a deep recession on the horizon, demand is not expected to bounce back any time soon.

One of the company's most high profile retail customers, Neiman Marcus Group, filed for bankruptcy protection last month.

Canada Goose, whose red parkas are worn by everyone from Arctic scientists to Hollywood celebrities, said shipments to department stores have been largely shutoff since March and it expects lower orders in the coming months compared to last year, given the piling up of inventory during closures.

However, Chief Executive Officer Dani Reiss emphasized the shift in focus was because Canada Goose's own stores and online business would see a faster recovery than its wholesale channels.

Wholesale revenue made up about 44% of the company's total revenue in the previous fiscal year.

In the fourth quarter ended March 29, Canada Goose's revenue fell nearly 10% to C$140.9 million ($104.15 million), but beat analysts' estimates of C$128.1 million, according to IBES data from Refinitiv.

($1 = 1.3529 Canadian dollars)

(Reporting by Uday Sampath in Bengaluru; Editing by Krishna Chandra Eluri)

Stocks mentioned in the article
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AT HOME GROUP INC. 5.03% 6.27 Delayed Quote.14.00%
BASE CO., LTD. 6.01% 4500 End-of-day quote.66.46%
BASE, INC. -4.26% 5620 End-of-day quote.220.23%
CANADA GOOSE HOLDINGS INC. -0.57% 29.83 Delayed Quote.-36.18%
JUST GROUP PLC -0.42% 47.8 Delayed Quote.-39.49%
LETS HOLDINGS GROUP CO., LTD. -1.11% 11.55 End-of-day quote.91.23%
LOOK HOLDINGS INCORPORATED -1.94% 708 End-of-day quote.-43.45%
SHIFT, INC. 2.11% 11140 End-of-day quote.39.60%
THE NEW HOME COMPANY INC. 6.17% 3.27 Delayed Quote.-33.91%
WILL GROUP, INC. -1.22% 648 End-of-day quote.-48.24%
WORLD CO., LTD. -1.65% 1554 End-of-day quote.-42.25%
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Financials
Sales 2021 870 M 644 M 644 M
Net income 2021 92,7 M 68,6 M 68,6 M
Net cash 2021 9,90 M 7,33 M 7,33 M
P/E ratio 2021 36,0x
Yield 2021 -
Capitalization 3 304 M 2 440 M 2 445 M
EV / Sales 2020
EV / Sales 2021 3,79x
Nbr of Employees 1 219
Free-Float 53,5%
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Technical analysis trends CANADA GOOSE HOLDINGS INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 38,77 CAD
Last Close Price 29,83 CAD
Spread / Highest target 57,6%
Spread / Average Target 30,0%
Spread / Lowest Target -29,6%
EPS Revisions
Managers
NameTitle
Dani Reiss Chairman, President & Chief Executive Officer
Jonathan Stuart Sinclair Chief Financial Officer & Executive Vice President
Eric Westerby Senior Vice President-Information Technology
Ryan Cotton Director
Joshua Bekenstein Director
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