Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

CANADA GOOSE HOLDINGS INC

(GOOS)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Canada Goose : margins miss on higher sales of less profitable, lighter clothes

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/14/2019 | 10:38am EDT
A man walks by jackets at the Canada Goose factory in Toronto

(Reuters) - Canada Goose Holdings Inc quarterly gross margins missed estimates on Wednesday, as the luxury apparel maker sold more of its light-weight spring season clothes, which are not as profitable as its $1,000 parkas.

Toronto-listed shares of the company fell as much as 5.4% as investors dismissed its smaller-than-expected loss.

Canada Goose, known for its cold-weather, fur-trimmed parkas, ventured into raincoats, light-weight jackets and knitwear a few years ago to cater to its customers' seasonal needs and to move away from fur, which has increasingly become distasteful and is even banned in California.

"The affinity and desire we have seen for our seasonally relevant lightweight offerings tells us our product expansion is working," Canada Goose said in its statement.

The company said online and retail sales of its light-weight, non-parka products rose to about a third of its total revenue in the quarter for the first time and that it expects to sell more parkas in the third and fourth quarter as the weather gets colder.

The cheaper products are, however, not as profitable as the company's parkas. Gross profit margins plummeted 57.5% in the first quarter from 64% in the year ago period, and missed analysts' estimate of a 61.6% drop, also hit by a higher proportion of sales going to department stores.

Still, the company's loss of 21 Canadian cents per share was better than the 24 Canadian cent loss that analysts had anticipated.

Canada Goose has been spending on its direct-to-consumer business, including its e-commerce and company-owned retail outlets, as it looks to rely less on struggling department stores for sales.

Revenue rose 59.1% and was ahead of estimates, as the company benefited from sales of costlier jackets and parkas to department stores and as it opened new retail outlets and launched products online on Chinese e-commerce company Alibaba's Tmall marketplace.

It was also driven by international customers' request for earlier order shipments compared to last year and its acquisition of footwear maker Baffin last November.

Net loss widened to C$29.4 million, or 27 Canadian cents per share, in the quarter ended June 30, from a loss of C$18.7 million, or 17 Canadian cents per share, a year earlier.

Canada Goose's shares, which have fallen a little over 4% so far this year, were down 3.5% in morning trading.

(Reporting by Arunima Kumar in Bengaluru; Writing by Arathy S Nair; Editing by Shinjini Ganguli)

By Arunima Kumar

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -4.29% 164.54 Delayed Quote.20.04%
CANADA GOOSE HOLDINGS INC -6.67% 49.1 Delayed Quote.-11.85%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CANADA GOOSE HOLDINGS INC
08/22CANADA GOOSE Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Ex..
NE
08/16CANADA GOOSE : Announces Election of Directors and Reappointment of Deloitte LLP..
AQ
08/15CANADA GOOSE Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Ex..
NE
08/14MARKET SNAPSHOT: Dow Tumbles 800 Points In Biggest One Day Fall Of Year On Gl..
DJ
08/14CANADA GOOSE : margins miss on higher sales of less profitable, lighter clothes
RE
08/14CANADA GOOSE : reports first-quarter sales up nearly 60 per cent, loss grows
AQ
08/14GLOBAL MARKETS LIVE : Franklin Templeton, Google, Anbang, WeWork…
08/14CANADA GOOSE : Fiscal 1Q Earnings Snapshot
AQ
08/14CANADA GOOSE : Reports Results for First Quarter Fiscal Year 2020
BU
08/12CANADA GOOSE : Taps Apparel Industry Veteran to Lead Design & Merchandising Team
BU
More news
Financials (CAD)
Sales 2020 1 049 M
EBIT 2020 265 M
Net income 2020 182 M
Debt 2020 42,6 M
Yield 2020 -
P/E ratio 2020 28,9x
P/E ratio 2021 22,8x
EV / Sales2020 5,17x
EV / Sales2021 4,13x
Capitalization 5 378 M
Chart CANADA GOOSE HOLDINGS INC
Duration : Period :
Canada Goose Holdings Inc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CANADA GOOSE HOLDINGS INC
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 66,09  CAD
Last Close Price 49,10  CAD
Spread / Highest target 79,2%
Spread / Average Target 34,6%
Spread / Lowest Target -16,5%
EPS Revisions
Managers
NameTitle
Dani Reiss Chairman, President & Chief Executive Officer
Jonathan Stuart Sinclair Chief Financial Officer & Executive Vice President
Jacob Pat Chief Information Officer
Ryan Cotton Director
Joshua Bekenstein Director
Sector and Competitors
1st jan.Capitalization (M$)
CANADA GOOSE HOLDINGS INC-11.85%4 043
LVMH MOËT HENNESSY VUITTON SE37.68%199 340
VF CORPORATION9.83%31 197
LULULEMON ATHLETICA INC.48.04%23 454
MONCLER S.P.A.19.94%9 674
UNDER ARMOUR1.41%7 682