Shares of Canada Goose Holdings Inc. jumped 12.6 percent in pre-market trading after the company bested fourth-quarter consensus estimates in its first quarterly report as a public firm.For the quarter ended March 31, the company posted a net loss of loss 23.3 million Canadian dollars or $20.7 million, or diluted EPS of 23 Canadian cents or 20 cents. That compares with a net loss of 9.9 million Canadian dollars, or $8.8 million, or diluted EPS of 9 Canadian cents or 8 cents, a year ago. On an adjusted basis, the net loss was 15 Canadian cents, or 13 cents, versus a loss of 8 Canadian cents, or 7 cents, a year ago. Revenues rose 21.9 percent to $51.1 million Canadian dollars, or $45.5 million, from 41.9 million Canadian dollars, or $37.3 million, a year ago. All conversions are at current exchange.Wall Street was expecting a loss of 15 cents a share on revenues of $23.2 million.Shares of Canada Goose were trading at $21.06 in the early morning. The boost to the stock was also helped in part by the company’s fiscal 2018 outlook. The company said it expects annual revenue growth on a percentage basis in the mid to high teens, and growth in adjusted net income per a diluted share of 20 percent per year.Dani Reiss, president and chief executive officer, said, “The year marked several milestones for us: We continued our rapid top- and bottom-line growth; opened our first two flagship retail stores — both of which far surpassed our expectations; solidified our position as a three-season brand by introducing our strongest spring collection yet and began our journey as a public company.”He said the fourth-quarter results — highlighted by the 21.9 percent revenue gain — reflected “exceptional direct-to-consumer performance, which more than offset the shift in wholesale shipments to the third quarter and drove a 950 basis point expansion in gross margin.”Reiss said the company’s strong performance demonstrates the performance of the brand and continued demand for the brand’s products.In the quarter, the company said wholesale revenue was 14.6 million Canadian dollars, or $13 million, compared with 28.6 million Canadian dollars, or $25.5 million, a year ago. Direct-to-consumer revenue, including e-commerce and sales from company-owned stores, jumped to 36.5 million Canadian dollars, or $32.5 million, from 13.3 million Canadian dollars, or $11.8 million, a year ago. Gross profit rose to 27.8 million Canadian dollars or $24.8 million, from 18.8 million Canadian dollars, $16.7 million, a year ago.RBC Capital Markets analyst Brian Tunick said, “Despite its 60-year history, we see Canada Goose as in the early stages of its growth trajectory, particularly in the fragmented and growing premium outerwear market.” Global growth drivers over the three to five years include 30 to 50 stores, compared with just two today; double-digit e-commerce increases with the rollout of additional country-specific sites; wholesale gain of 6 to 8 percent, and geographic expansion, he said.The company already has two more store openings scheduled for this fall, one in London and the other in Chicago.The company completed its initial public offering in March. Shares of the company trade on both the Toronto and New York Stock Exchanges.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion
@carmeloanthony is upping his fashion game once again, introducing a hat collection with @goorinbros. Called Fresh Greens by Melo x Goorin, the line consists of five unisex models, all of which are made in America from 100 percent wool. Each hat is lined with Anthony’s signature and the inscription “Knowledge of self, wisdom and understanding.” You can purchase the collection line at Goorin’s website as well as three off its stores in San Francisco, New York City and Las Vegas #wwdaccessories
“I am of tradition, but that doesn’t mean I have an old outlook on life,” Hubert de Givenchy told WWD in an interview in 1978. The legendary designer, who died last week at the age of 91, achieved wide success soon after launching his own couture boutique in the early ’50s, but he refused to pine for that time. For the first time since its original publication, read our interview with Givenchy on his awe for Audrey Hepburn and looking forward. Link in bio. #wwdarchives #fbf (📷: Pierre Schermann)
About last night: @alexachung and @supergausa toasted the launch of their capsule collection. “It’s the shape that I love, so rather than amend the last and make the sole crazy or do anything wild, we just did really subtle additions that I think make it look really luxe-y,” said Chung. #wwdfashion (📷: Marc Patrick)
Exclusive: @off____white’s @virgilabloh is launching an exclusive eyewear capsule collection @sunglasshut. The unisex collection, which is made up of three styles, first made its debut on the brand’s fall runway show in Paris. Get all the details on WWD.com – link in bio. #wwdnews #wwdfashion