- Canada Goose Holdings Inc (NYSE:GOOS) reported fourth-quarter FY23 sales growth of 31.4% year-on-year to C$293.2 million.
- DTC revenue grew 22.6% Y/Y, and wholesale revenue increased 30.4%.
- Gross profit rose 23.5% Y/Y to C$190.3 million with a profit margin of 64.9%.
- The operating income for the quarter was C$17.2 million versus C$0.9 million. The operating margin expanded 550 basis points to 5.9%.
- The company held C$286.5 million in cash and equivalents as of April 2, 2023.
- Adjusted EBIT for the quarter increased 122.6% to C$27.6 million. The adjusted EBIT margin was 9.4%.
- Non-IFRS adjusted EPS was C$0.14 versus C$0.04 last year.
- Inventory was C$472.6 million as of April 2, 2023, compared to C$393.3 million as of April 3, 2022.
- Outlook: Canada Goose sees FY24 revenue of C$1.4 billion – C$1.5 billion. Non-IFRS adjusted EPS of C$1.20 – C$1.48.
- For Q1, it sees revenue of C$70 million – C$80 million. Non-IFRS adjusted EPS of C$(0.89) – C$(0.82).
- Price Action: GOOS shares traded higher by 11.15% at $22.72 in premarket on the last check Thursday.
Investor Optimism Falls Further Ahead Of Economic Reports
The CNN Money Fear and Greed index showed further decline in overall sentiment among U.S. investors on Monday.
The Nasdaq added over 1% on Monday amid a recovery in chip stocks with NVIDIA Corporation (NASDAQ: NVDA) adding over 7%. The VanEck Semiconductor ETF (SMH) gained 3% on Monday.
