An item from Canada Goose's capsule collection in PBI Blue

Shares of Canada Goose Holdings shot up 32.5 percent after the company posted big fourth-quarter gains and said it expects annual revenue growth of 20 percent over the next three years.

For the quarter ended March 31, the company’s income was 6.6 million Canadian dollars, versus a loss of 23.3 million Canadian dollars a year earlier. Revenues for the three months more than doubled to 125.8 million Canadian dollars from 51.1 million Canadian dollars.

For the year, income was 94.2 million Canadian dollars, compared with income of 21 million Canadian dollars in fiscal year 2017, while revenues rose 46.4 percent to 591.2 million Canadian dollars.

Shares of Canada Goose on Friday closed at $60.75 in trading on the New York Stock Exchange.

Dani Reiss, president and chief executive officer, said: “These results reinforce my belief that we are still just scratching the surface of our global potential. As we continue to bring more Canada Goose to more of the world, we are resolutely focused on the long term and what we need to get there.”

He said during a conference call to analysts that the company added fall, winter and spring collections and introduced its new knitwear offering to expand the business beyond its traditional parka styles.

“Our focus isn’t just on what our needs are today, tomorrow, next month or next season, but as important as five years and 10 years from now. As we continue to execute on our growth strategies, we’re resolutely focused on driving sustainable results the right way,” he told analysts.

Over the next three years, Canada Goose is looking for average annual revenue growth of at least 20 percent, as well as annual adjusted earnings before interest, taxes, depreciation and amortization margin of at least 26 percent in fiscal 2021.

This year, the company said it expects annual revenue growth of at least 20 percent. It is also assuming several factors in its projection:  Wholesale revenue growth in the midsingle-digits on a percentage basis; five new stores in operation by the beginning of the peak winter selling season; six stores in operation in off-peak periods in the first half of the year, and capital expenditures of $65 million, including investments in new stores, IT and manufacturing capacity.

Separately, Canada Goose said it will open three more stores this fall. The stores will be in Montreal and Vancouver as well as at The Mall at Short Hills in New Jersey. The latter represents its fourth store in the U.S. Last month, the outerwear firm said it plans to open stores in Beijing and Hong Kong, as well as have an e-commerce presence on Alibaba Group’s Tmall platform.

Reiss said on the call that he expects to relaunch on Tmall’s luxury pavilion in the third quarter. For the two stores in China, it is partnering with ImagineX, part of the Lane Crawford Joyce Group. The Hong Kong store has 3,000 square feet and will be at the IFC mall, while the store in Beijing is more than 5,300 square feet at the Twan North mall.

“We are really, really excited about China, but I want to make clear that it is one opportunity among many and [in] all of our geographies, including our most developed markets, we believe that we have significant runway to strengthen brand affinity and expand customer access,” Reiss said. He also said the planned IT investment — part of the company’s $65 capital expenditure for fiscal year 2019 — is about “getting ahead of longer-term infrastructure and business process needs.”

Canada Goose completed its initial public offering in March 2017. In the retail and apparel sector, Canada Goose was among the top 10 performing U.S. IPOs, with a deal size of $253 million, according to Renaissance Capital. Renaissance Capital tracks the IPO market. The maker of down parkas was backed by private equity firm Bain Capital, which retains a stake in the company.