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Canada Goose beats Q1 revenue estimates on strong non-winter clothing demand
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Canada Goose beats Q1 revenue estimates on strong non-winter clothing demand
Aug 1, 2024 4:16 AM

Aug 1 (Reuters) - Canada Goose Holdings ( GOOS )

beat Wall Street estimates for quarterly revenue on

Thursday, benefiting from consumer demand for its non-winter

clothing that includes fleece, sweats and lightweight hoodies.

Canada Goose, which is known for its heavyweight puffer

jackets and red parkas, has been trying to enter the non-winter

category by expanding its product offering to include rain and

warm weather clothing such as t-shirts and shorts.

The Toronto, Ontario-based company's first-quarter revenue

rose to C$88.1 million ($63.7 million) from C$84.8 million a

year earlier. Analysts on average had expected revenue of C$86.1

million, according to LSEG.

The first quarter, which entails the spring season and the

beginning of summer, is typically the slowest quarter for Canada

Goose which makes the most of its revenue during the winter

season through sales of heavyweight jackets.

U.S.-listed shares of Canada Goose fell 3% in premarket

trading.

The company reaffirmed its fiscal 2025 revenue growth target

for a low single-digit percentage, and continues to expect

annual adjusted profit to rise in a mid-teen percentage range.

($1 = 1.3824 Canadian dollars)

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