By Adriano Marchese
Canada Goose Holdings reported higher profit in its second fiscal quarter, while revenue growth missed expectations.
The Canadian winter clothing manufacturer posted net income of 3.9 million Canadian dollars ($2.8 million), or C$0.04 a share, up from C$3.3 million, or C$0.03 a share, in the comparable quarter a year ago.
Adjusted earnings were C$0.16 a share. According to FactSet, analysts were expecting a swing to a loss of C$0.22 a share.
Sales rose to C$281.1 million from C$277.2 million, but missed analyst expectations of a rise to C$286.6 million.
Direct-to-customer sales rose 15% to C$109.4 million, thanks to growth of in-store sales, while wholesale revenue fell 10% due to a planned streamlining of its wholesale relationships.
Regionally, Asia Pacific saw the largest increase in revenue, rising 13% in the quarter, while the EMEA region’s revenue rose 6%. In North America, revenue fell by 7%, which the company said was largely due to a decline in wholesale revenue.
Write to Adriano Marchese at [email protected]
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