Canada Goose (GOOS) earnings topped expectations early Thursday, as the maker of luxury winter wear and outdoor gear reported relatively hot sales in the summer fiscal first quarter. Canada Goose stock flew in early trading.
XCanada Goose Earnings
Estimates: Per-share losses are expected to widen to 18 cents vs. 10 cents in the prior-year quarter. Revenue was seen rising 19% to $25 million.
Results: Canada Goose lost 12 cents a share adjusted in a typically weak summer quarter. Revenue jumped to $34.6 million.
Outlook: Canada Goose reiterated guidance, including at least 20% revenue growth and adjusted EPS growth of 25% or more.
Canada Goose Stock
Shares rose rose 8.6% to 60.70 in premarket trading on the stock market today. Canada Goose stock, which is No. 7 on the IBD 50 list, has tested its key 50-day moving average for the past two sessions, but closed above that key technical level.
A strong rebound from the 50-day line could offer a follow-on buy opportunity for existing holders. Canada Goose stock also has a traditional 65.05 buy point from a late-stage double-bottom base.
Shares of outerwear maker Columbia Sportswear (COLM) was not yet active. The North Face parent VF (VFC) also was quiet. And luxury peer Michael Kors (KORS), which also makes winter coats, fell 0.4%. Michael Kors stock tried to break out Wednesday on its earnings, but closed just below the buy point.
Canada Goose products can run upwards of $1,000 for an ultra-luxe parka. The company could be considered something of an "odd duck" for its niche market, though it has a strong direct-to-consumer channel, which accounts for over 43% of its 2018 sales. That rose to 52% of sales in fiscal Q1
The U.S. was traditionally Canada Goose's largest market. That changed in fiscal 2018, when Canada rose to represent 39% of total revenue. U.S. sales were 31% of the total. International sales were 30%.
Canada Goose came public at 12.75 a share in March 2017.
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The post Canada Goose Earnings: IBD 50 Stock Makes Bullish Move On Q1 Results appeared first on Investor's Business Daily.
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