A rendition of Canada Goose's London store, its largest to date.
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.
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye