TORONTO — Canada Goose Holdings Inc. topped expectations as it reported a $60.6-million second-quarter profit after its revenue grew more than 25 per cent compared with a year ago.
The luxury parka company says its profit amounted to 55 cents per diluted share for the quarter ended Sept. 29 compared with a profit of $49.9 million or 45 cents per diluted share in the same quarter last year.
Revenue in what was the company’s second quarter totalled $294.0 million, up from $230.3 million.
Canada Goose says the revenue growth was due to strong performances in Asia, which nearly doubled to $48.9 million from $26.6 million, and the United States.
On an adjusted basis, the company says it earned $63.6 million or 57 cents per diluted share for the quarter, up from an adjusted profit of $51.1 million or 46 cents per diluted share a year ago.
Analysts on average had expected a profit of 43 cents per share and $267.3 million in revenue, according to financial markets data firm Refinitiv.
This report by The Canadian Press was first published Nov. 13, 2019.
Companies in this story: (TSX:GOOS)
The Canadian Press