Canada Goose shares soar after surprise profit, raised guidance

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Canada Goose Holdings Inc. GOOS, +19.37% stock jumped 10.5% in Friday premarket trading after the luxury outerwear company reported a surprise fiscal second-quarter profit and raised its full-year guidance. Net income totaled C$9.3 million (US$7.5 million), or 8 cents per share, down from C$12.5 million, or 9 cents per share, last year. Adjusted EPS of 12 cents beat the FactSet consensus for a loss of 10 cents Canadian. Revenue of C$232.9 million (US$186.8 million) was up from $194.8 million last year and ahead of the FactSet consensus for C$206.1 million. Direct-to-consumer revenue in mainland China was up 85.9%. Canada Goose raised its full-year outlook, and now expects revenue of C$1.125 billion to C$1.175 billion, up from $C$1.00 billion previously. And the company is guiding for adjusted EPS of C$1.17 to C$1.33. The FactSet consensus is for revenue of $1.103 billion and EPS of $1.15. Canada Goose shares have advanced 35.8% for the year to date while the S&P 500 index SPX, +0.37% has gained 24.6% for the period.

This article was originally published by Marketwatch.com. Read the original article here.

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