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Canada Goose reports first-quarter sales up nearly 60 per cent, loss grows

A woman in New York wears a Canada Goose coat on Feb. 14, 2019.Canada Goose Holdings Inc. reported a loss of $29.4 million in its latest quarter as sales grew by nearly 60 per cent compared with a year ago.The luxury parka company says its loss amounted to 27 cents per share for the quarter ended June 30 compared with a loss of $18.7 million or 17 cents per share a year ago. THE CANADIAN PRESS/AP, Frank Franklin II

TORONTO — Canada Goose Holdings Inc. reported a loss of $29.4 million in its latest quarter even as sales grew by nearly 60 per cent compared with a year ago.

The luxury parka company says its loss amounted to 27 cents per share for the quarter ended June 30 compared with a loss of $18.7 million or 17 cents per share a year ago.

On an adjusted basis, Canada Goose says it lost 21 cents per share compared with an adjusted loss of 15 cents per share a year ago.

Revenue in what was its first quarter totalled $71.1 million, up from $44.7 million.

The company says revenue in Canada rose 40.4 per cent, while sales climbed 15.8 per cent in the United States and 79.7 per cent in Europe and the rest of the world.

Revenue in Asia nearly tripled to $18.1 million from $6.6 million due to earlier shipments to international distributors in Japan and South Korea, and the contribution of operations in China.

 

 

Companies in this story: (TSX:GOOS)

The Canadian Press