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)