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    GOOS   CA1350861060

CANADA GOOSE HOLDINGS INC.

(GOOS)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-10-06 pm EDT
24.15 CAD   +2.42%
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Canada Goose results thrive as luxury demand defies inflation

08/11/2022 | 06:56am EDT

Aug 11 (Reuters) - Canada Goose Holdings Inc on Thursday surpassed Wall Street targets for quarterly results after affluent consumers undeterred by decades-high inflation snapped up its luxury parkas and jackets.

Toronto-listed shares of the company rose about 3% as its second-quarter revenue forecast also came in largely above estimates.

Luxury companies from Ralph Lauren to Louis Vuitton owner LVMH have seen little to no impact from rising inflation as higher-income customers travel and shop in earnest, spending the savings they had built up during two years of lockdowns.

"As of today, we've not seen any signs of slowing demand ... I continue to believe and expect that our business is going to stay on course for the rest of the year," Canada Goose Chief Executive Dani Reiss told Reuters in an interview.

COVID lockdowns and store closures in top luxury market China sent the company's Asia Pacific revenue down 6.3% to C$16.1 million ($12.63 million), but its stores in the country reopened towards the end of June.

Canada Goose is now experiencing pent-up demand in China and expects positive sales trends in the region going forward as consumers return to stores, Reiss said.

He added that it has not seen any impact to sales in Europe from a heat wave that swept across the region in mid-July.

The luxury consumer in general is taking advantage of getting to participate in social events again and Canada Goose is still a brand that has momentum across its segments, said Jessica Ramírez, senior research analyst at Jane Hali and Associates.

The company's revenue rose 24% to C$69.9 million in the first quarter, beating expectations of C$62.6 million, according to IBES data from Refinitiv.

Excluding items, it posted a loss of 56 Canadian cents per share, smaller than estimates of 61 Canadian cents. ($1 = 1.2748 Canadian dollars) (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Devika Syamnath)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CANADA GOOSE HOLDINGS INC. 2.42% 24.15 Delayed Quote.-49.70%
LVMH MOËT HENNESSY LOUIS VUITTON SE -0.35% 635.1 Real-time Quote.-12.34%
RALPH LAUREN CORPORATION -0.52% 93.53 Delayed Quote.-20.90%
All news about CANADA GOOSE HOLDINGS INC.
09/30TSX ends flat in volatile trade, gold stocks gain
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09/22Canada goose puts the focus on bold and brave women in all-female seasonal campaign pho..
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09/19Sector Update: Consumer Stocks Finishing Near Intraday Highs
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09/19Sector Update: Consumer Stocks Staying on Positive Ground
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09/19Williams Trading Upgrades Canada Goose Holdings to Hold From Sell, Keeps CA$23 Price Ta..
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09/12Credit Suisse Maintains Outperform, $39 Target After Meeting With Management
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08/31Canada Goose Announces Participation in Goldman Sachs 29th Annual Global Retailing Conf..
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08/23Luxury parka maker Canada Goose taps Larry Li to head up business in China
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08/22Canada Goose Strengthens Leadership Team in China with Appointment of Larry Li as Presi..
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More news
Analyst Recommendations on CANADA GOOSE HOLDINGS INC.
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Financials
Sales 2023 1 325 M 966 M 966 M
Net income 2023 170 M 124 M 124 M
Net Debt 2023 242 M 176 M 176 M
P/E ratio 2023 15,2x
Yield 2023 -
Capitalization 2 544 M 1 854 M 1 854 M
EV / Sales 2023 2,10x
EV / Sales 2024 1,77x
Nbr of Employees 4 353
Free-Float 51,3%
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Technical analysis trends CANADA GOOSE HOLDINGS INC.
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 24,15 CAD
Average target price 34,44 CAD
Spread / Average Target 42,6%
EPS Revisions
Managers and Directors
Dani Reiss Chairman & Chief Executive Officer
Carrie Baker President
Jonathan Stuart Sinclair Chief Financial Officer & Executive Vice President
John Moran COO, EVP-Manufacturing & Supply Chain
Stephen K. Gunn Independent Director
Sector and Competitors
1st jan.Capi. (M$)
CANADA GOOSE HOLDINGS INC.-49.70%1 817
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LI NING COMPANY LIMITED-21.73%22 254
VF CORPORATION-56.62%12 393
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