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Canada Goose beats quarterly revenue estimates on strong demand -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – People pass an advertisement in front of Canada Goose’s flagship store, Sanlitun, Beijing China, December 31, 2018. REUTERS/Martin Pollard/File Photo

(Reuters) – Canada Goose Holdings Inc beat Wall Street expectations for quarterly revenue on Friday. The surge in online sales, and strong demand from its parkas during the reopenings of major economies, drove Canada Goose Holdings Inc to surpass Wall Street’s quarterly estimates.

After the global crisis in health, luxury goods producers have experienced a robust recovery. This was due to pent-up demand, which includes designer clothing and footwear, but also because of travel restrictions that continue to limit tourist demand.

China consumers are known for buying high-end Western brands and lifted Canada Goose in quarter. They continued to buy Canada Goose parkas, jackets, and other items despite new lockdowns in certain cities because of the Delta virus.

According to Refinitiv IIBES, revenue rose by C$232.9 Million ($186.69M) to the Sept. 26th quarter, compared to C$194.8 Million a year ago. Analysts had expected C$206.1m, surpassing analysts’ expectations.

C$9.0million or 8 Canadian Cents per Share, was the net income, down from C$10.4million or 9 Canadian Cents per Share a year prior.

($1 = 1.2475 Canadian dollars)

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