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Canada Goose shares up after better-than-expects results, plans three new stores

June 15, 2018 12:44 PM
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Canada Goose shares up after better-than-expects results, plans three new stores

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.

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Source: cbc.ca

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