Canada Goose Holdings (TSX:GOOS) beat quarterly revenue expectations buoyed by a recovery in demand for its luxury parkas and a sharp rise in e-commerce sales.
Growing vaccination rates and the reopening of major economies around the world helped support Canada Goose sales in the three months ended June 30, according to the company.
Canada Goose’s global e-commerce revenue jumped 80.8%, as it benefited from investments to build out its online business.
The company, best known for its expensive winter parkas, said first-quarter revenue rose to $56.3 million from $26.1 million a year earlier. Analysts had expected quarterly revenue of $49.7 million, according to Refinitiv data.
Despite the revenue increase, Toronto-based Canada Goose said its net loss widened to $56.7 million in the second quarter from $50.1 million a year earlier.
