Canada Goose (TSX:GOOS)(NYSE:GOOS) is a brand that has become world famous over the past decade.
It was the beneficiary of significant free marketing as it was spotted on the backs of top celebrities
during the winter months in the mid-to-late 2010s. The stock debuted on the TSX in March 2017. Shares
of Canada Goose have plunged 51% in 2022 as of close on October 13.
Investors can expect to see this company’s next batch of earnings in early November. It unveiled its first
quarter fiscal 2023 earnings on August 11. Canada Goose achieved stronger-than-expected revenue
growth of 24% to $69.9 million. Meanwhile, gross profit was reported at $42.7 million in Q1 FY2023 – up
from $30.7 million in the prior year. Canada Goose saw its adjusted EBIT loss widen to $75.6 million in
the quarter, which was larger than the adjusted EBIT loss of $61.3 million in same period in fiscal 2022.
This company has carved out a strong position in the global winter clothing market. Canada Goose is a
pricey but high-quality option for shoppers in the luxury space. Grand View Research recently estimated
that the global winter wear market was valued at US$268 billion in 2018. At the time, it projected that
the market would deliver a compound annual growth rate (CAGR) of 4.3% from 2019 through to 2025.
Canada Goose is geared up for strong earnings growth in the quarters ahead. I’m looking to snatch up
this clothing stock on the dip ahead of the winter season.
