Canada Goose Holdings Inc. (TSX:GOOS)(NYSE:GOOS) stock was up 2.23% midway through the noon hour on Friday August 11. The winter clothing manufacturer released its fiscal first quarter results on Thursday, August 10 and beat estimates for the second straight quarter. Canada Goose posted a loss of $0.11 per share compared to $0.14 per share the year previous. Revenue also beat projections as the company posted $28.2 million compared to $15.7 million in the first fiscal quarter of 2017. It also announced the opening of five new retail stores, including one in Japan. The company reported positive developments in new warmer weather releases.
Direct-to-consumer revenue grew to $8.3 million compared to $1.3 million in the first fiscal the previous year driven by an increase in e-commerce activity. Gross profit increased to $13.2 million and 46.9% of total revenue. General and administrative expenses grew to $25.8 million compared to $18.1 million in the first fiscal of 2017 as the company saw a higher cost as a result of its direct-to-consumer channel.
The share price has increased 10% since its initial public offering in mid-March. The last string of results boosted the stock over the $32 mark before it was driven down in late June. With the winter shopping season up ahead Canada Goose is hoping that it will have more good news to report before the end of the year.
