Canada Goose (GOOS) reported a better-than-expected loss of $0.56 per share as sales of its
luxury parkas rose around the world.
Analysts had expected Canada Goose to report a $0.61 loss per share for the period.
The Toronto-based company said its revenue rose 24% to $69.9 million in its fiscal first quarter,
beating analyst expectations of $62.6 million, according to Refinitiv data.
Renewed COVID-19 lockdowns in China sent the company's Asia-Pacific revenue down 6.3%
to $16.1 million in the period.
However, the company said it is optimistic that its sales in Asia will rebound through the end of
the year as its retail outlets in China reopened in June.
Year-to-date, Canada Goose’s stock is down 40% and trading at $28.13 per share.
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