- Canada Goose Holdings Inc (NYSE:GOOS) (TSX:GOOS) reported fourth-quarter FY22 sales growth of 6.8% to C$223.1 million versus C$208.8 million last year.
- DTC revenue grew 8% Y/Y, and wholesale revenue increased 3.5%.
- Gross profit rose 11.2% Y/Y to C$154.1 million, with the margin expanding 270 basis points to 69.1%.
- The operating margin contracted 300 basis points to 0.4% due to higher operating costs and lease impairment costs. The operating income for the quarter declined 87.5% to C$0.9 million.
- The company held C$287.7 million in cash and equivalents as of April 3, 2022.
- EPS loss for the quarter was C$(0.09) compared to C$0.02 profit the previous year.
- Non-IFRS adjusted EPS was C$0.04 versus C$0.01 last year.
- Inventory was C$393.3 million as of April 3, 2022, compared to C$342.3 million last year.
- Outlook: Canada Goose sees Q1 sales of C$60 million - C$65 million. Non-IFRS adjusted EPS loss of C$(0.64) – C$(0.60).
- It expects FY23 sales of C$1.3 billion – C$1.4 billion. Non-IFRS adjusted EPS of C$1.60 – C$1.90.
- Price Action: GOOS shares traded higher by 5.60% at $20.08 on the last check Thursday.
