Shares Of Canada Goose Are Trading Higher Today: Here's Why

Shares of Canada Goose Holdings Inc GOOS are trading higher following a better than expected earnings report.

Why Is It Moving?

On Thursday morning, the outerwear company reported its 2023 quarter-one earnings and issued its full year 2023 guidance. 

The company beat the consensus analysts' estimates for both its quarterly revenue and earnings per share (EPS).

Revenue was reported at $54.776 million beating the estimated $48.280 million.

EPS was reported at –$0.440 beating the estimated –$0.480.

Canada Goose also shared a total revenue guidance of $1,020,721,000 (C$1.3 billion) to $1,099,238,000 (C$1.4 billion).

Chairman and CEO Dani Reiss shared the following sentiments in the earnings report: “Our first quarter fiscal 2023 results reflect strong early leading indicators for the year, and we have seen encouraging trends in store productivity… This fall, we look forward to our planned store openings, in some of the most exciting cities and shopping districts around the world, as well as our upcoming collection launches, thoughtfully curated and designed to drive brand heat and capture new consumers globally.”

Price Action: Shares are up 6.69% as the stock price hovers at $23.13 during Thursday’s trading session, according to Benzinga Pro.

Photo: Courtesy of John Lee on Unsplash