First published: 8.08 AM ET, Last updated: 15.30 ET
Shares of luxury apparel provider Canada Goose Holdings (NYSE:GOOS) initially saw an upward trend earlier today following the release of their impressive fourth-quarter numbers. However, the stock took a sharp turn and experienced a substantial decline as the trading session progressed.
Revenue rose 31.4% year-over-year to C$293.2 million, outpacing estimates of C$257.1 million. EPS at C$0.14 too comfortably scaled past expectations by C$0.07. The company witnessed robust gains across Asia Pacific and EMEA while also clocking a 250% rise in its bottom line.
Further, Canada Goose witnessed double-digit growth across DTC and Wholesale segments on the back of retail store expansion and a higher volume of shipments.
Looking ahead, for the full-year 2024, Canada Goose expects total revenue to hover between C$1.4 billion and C$1.5 billion. EPS for the year is seen landing between C$1.20 and C$1.48. Importantly, with a focus on its strategic plan for fiscal 2028, the company is working on three key areas, consumer-focused growth, more than doubling its DTC network, and category expansion. This includes creating new product categories while also expanding existing product categories.
Shares of the company have gained 8.2% over the past three months and are up a further 14% at the time of publishing today.
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