Why Winter Clothing Maker Canada Goose's Shares Are Rising Today
Portfolio Pulse from Nabaparna Bhattacharya
Canada Goose Holdings Inc. (NYSE:GOOS) reported a 6% year-over-year revenue growth for Q3 FY24, with a notable 14% increase in DTC revenue and a 62% revenue surge in Asia Pacific. Despite missing analyst revenue expectations in USD terms, the company saw gross profit grow by 8% and adjusted EPS increase. The company has adjusted its FY24 revenue and EPS guidance upwards, leading to a 2% rise in its stock price.
February 01, 2024 | 4:33 pm
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POSITIVE IMPACT
Canada Goose reported a 6% revenue growth in Q3 FY24, with significant growth in DTC and Asia Pacific sales. Adjusted FY24 revenue and EPS guidance have been raised, leading to a positive stock price movement.
The positive earnings report, especially the growth in DTC and Asia Pacific sales, along with the upward adjustment of FY24 revenue and EPS guidance, are likely to instill investor confidence in Canada Goose's growth trajectory and operational efficiency. This has already been reflected in a 2% increase in the stock price, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100