Luxury parka maker reports fourth-quarter profit of $8.1 million or seven cents per share
Shares of Canada Goose Holdings Inc. soared nearly 20 per cent in early trading after it reported stronger-than-expected earnings and announced plans for three new stores in North America.
Canada Goose shares were up $11.56 or 19.27 per cent at $71.55 in trading on the Toronto Stock Exchange after going as high as $78.30.
The increase came as the luxury parka maker reported a fourth-quarter profit of $8.1 million or seven cents per diluted share compared with a loss of $23.4 million or 23 cents per diluted share a year ago.
Revenue for the quarter ended March 31 totalled $124.8 million, up from $51.1 million in the same quarter a year earlier.
On an adjusted basis, Canada Goose said it earned $9.9 million or nine cents per diluted share.
Economists on average had expected a loss of eight cents per share for the quarter, according to Thomson Reuters Eikon.