- Canada Goose Holdings Inc (NYSE: 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.
- Photo Via Company
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