Canada Goose Stock Rises 15% On Strong Earnings
Date
5/16/2024 10:14:21 AM
(MENAFN- Baystreet) Canada Goose Seeks Momentum After Q4 earnings Beat
Under Armour Stock Drops 8% On News Of Restructuring
Deere Stock Falls 5% On Lowered Guidance
Warren Buffett's Mystery Stock Revealed To Be Insurer Chubb
Inflation Soars, Stocks Soars: Top Stocks Previous Articles Subscribe to Get Small Cap News & Alerts Baystreet Staff - Thursday, May 16, 2024
Canada Goose Stock Rises 15% On Strong Earnings
The stock of Canada Goose (GOOS) is up 15% after the maker of winter parkas beat analyst expectations for its financial results.
The Toronto-based company beat Wall Street forecasts for both its revenue and profits as sales recovered in the key markets of China and the U.S. following months of declines.
Canada Goose reported earnings per share of $0.19 versus $0.07 that was forecast among analysts who track the company's progress.
Revenue in what was the company's fiscal fourth quarter totaled $358 million, beating Wall Street expectations of $315.5 million, according to data from LSEG.
The luxury parka maker's revenue in the entire Asia-Pacific region rose 29.6% in the quarter. In North America, sales grew 24.5% year over year after a 14% decline in the previous quarter.
Management at Canada Goose singled out China as a bright spot in the quarter, noting that luxury brands are making a comeback in the nation of 1.4 billion people.
The latest financial results come after Canada Goose announced in March of this year plans to cut 17% of its global workforce amid a prolonged slowdown in sales of luxury goods.
Prior to today (May 16), the stock of Canada Goose had declined 43% over the last 12 months and was down 76% through five years. The shares were changing hands at $11.42 U.S.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN16052024000212011056ID1108222315
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.