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Adds shares, details on results, background
Aug 11 (Reuters) – Canada Goose Holdings Inc GOOS.TO, GOOS.N on Thursday beat Wall Street estimates for quarterly revenue as affluent consumers undeterred by decades-high inflation snapped up its luxury parkas and jackets.
Higher-income customers are traveling and shopping in earnest after two years cooped up indoors, spending the savings they had built up during lockdowns on luxury companies from Ralph Lauren RL.N to Louis Vuitton LVMH.PA.
Canada Goose’s revenue rose to C$69.9 million ($54.75 million) in the first quarter ended July 3, from C$56.3 million, a year earlier. Analysts had expected C$62.6 million, according to IBES data from Refinitiv.
Net loss widened to C$63.6 million, or 59 Canadian cents per share, from C$57.5 million, or 52 Canadian cents per share, a year earlier.
U.S.-listed shares of the Canadian company rose about 1% in low-volume premarket trading.
($1 = 1.2768 Canadian dollars)
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Devika Syamnath)
((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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