- Canada Goose Holdings Inc (NYSE:GOOS) reported second-quarter FY22 sales growth of 40.3% year-on-year to C$232.9 million.
- Global e-Commerce revenue increased by 33.8% Y/Y. DTC revenue grew 80.1% Y/Y, and wholesale revenue increased 24.8%.
- Gross profit rose 43.3% Y/Y to C$135 million, with the margin expanding 960 basis points to 58%.
- The operating margin for the quarter contracted 290 basis points to 4.9%, and the operating income fell 25.2% to C$11.3 million.
- Non-IFRS adjusted EBIT was C$16.1 million compared to C$15.7 million last year.
- Net income declined 13.5% Y/Y to C$9 million. EPS was C$0.08 versus C$0.09 last year. Non-IFRS adjusted EPS was C$0.12 versus C$0.10 last year.
- Inventory was C$416.4 million as of September 26, 2021, compared to C$417.2 million as of September 27, 2020. The company held C$98.9 million in cash and equivalents as of September 26, 2021.
- "Across all channels, we are seeing strong leading indicators of peak season demand," said CEO Dani Reiss.
- Outlook: Canada Goose expects FY22 revenue of C$1.125 billion - C$1.175 billion, compared to the prior outlook of exceeding C$1.00 billion. The company expects non-IFRS adjusted EPS of C$1.17 - C$1.33.
- Price Action: GOOS shares traded higher by 12.7% at $45.56 in premarket on the last check Friday.
Canada Goose Shares Gain On Solid Q2 Results, Upbeat FY22 Outlook
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.