Luxury Goods Demand Still Raging Despite Inflation Pressures as Canada Goose Torches Wall Street Expectations

Canada Goose Holdings Inc GOOS reported first-quarter FY23 sales growth of 24.2% year-on-year to C$69.9 million versus C$56.3 million last year.
DTC revenue grew 15.8% Y/Y, and Wholesale revenue increased 31% in constant currency.
Gross profit rose 39.1% Y/Y to C$42.7 million, with the margin expanding 660 basis points to 61.1%.
The operating loss for the quarter widened to C$(80.7) million.
The company held C$81.8 million in cash and equivalents as of July 3, 2022.
Non-IFRS adjusted loss per share was C$(0.56) versus C$(0.46) last year.
Inventory was C$504.7 million as of July 3, 2022, compared to C$404.5 million last year.
Outlook: Canada Goose sees Q2 sales of C$255 million - C$275 million. Non-IFRS adjusted EPS of C$0.02 – C$0.14.
It continues to expect FY23 sales of C$1.3 billion – C$1.4 billion. Non-IFRS adjusted EPS of C$1.60 – C$1.90.
Price Action: GOOS shares traded higher by 7.24% at $23.25 on the last check Thursday.
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Momentum22.57

Growth67.73

Quality36.32

Value68.98

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