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- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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