Canada Goose forecast annual earnings above estimates after topping Wall Street expectations for second-quarter revenue
“We don’t expect any material revenue headwinds relating to our supply chain or any shipping constraint for this winter,” Chief Executive Dani Reiss told Reuters, adding the company had all the inventory needed to make it through the rest of the season.
The Toronto, Ontario-based company, which typically makes around half of its annual sales during the holiday quarter, said it expects an adjusted profit of $1.17 to $1.33 per share in fiscal 2022, above analysts’ estimate of $1.13, according to Refinitiv IBES. Known for its bright red parkas, Canada Goose also benefited from Chinese consumers who continued to purchase its jackets despite fresh lockdowns in some cities, helping the company beat revenue expectations for the tenth consecutive quarter.
Canada Goose, set to launch its footwear collection this month, reported revenue of $232.9 million in the second quarter ended Sept. 26, topping analysts’ estimates of $206.1 million.
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