07:51 AM EDT, 05/16/2024 (MT Newswires) -- Canada Goose (GOOS.TO) was at last look up 13% in US premarket after it reported a fourth quarter net profit miss, but big revenues beat, and also provided a Fiscal 2005 outlook that "supersedes all prior financial outlook statements made" by the company. Meanwhile, it withdrew long-term financial targets.

The luxury outwear company recorded an adjusted profit of $19.3 million, or $0.19 per diluted share, compared with $14 million or $0.13 per diluted share in the prior year period. Capital IQ forecast $0.06 for Q4, but that was against a year earlier figure of $0.14. But net Income attributable to shareholders was $5 million, or $0.05 per diluted share, a turnaround from the net loss of $3.1 million, or $0.03 per diluted share, last year. That did miss the Capital IQ forecast of $0.09.

Total revenue increased 22% to $358 million, from $293 million. The Capital IQ forecast was $316.25 million. DTC revenue grew 19% to $271.5 million, driven by strong retail sales in Asia Pacific and North America. DTC comparable sales increased 3.5%, boosted by higher e-Commerce sales.

In Fiscal 2025, Canada Goose expects total revenue to grow in the low-single-digits year-over-year, with an approximate 25% to 75% distribution split between the first half and second half, respectively, which is relatively consistent with fiscal 2024. It also expects consolidated gross margin percentage to be similar to fiscal 2024.

As a result, non-IFRS adjusted EBIT margin is expected to expand by approximately 100 basis points compared to fiscal 2024.

Non-IFRS adjusted net income per diluted share to grow by a mid-teen percentage year-over-year. It also expects weighted average diluted shares outstanding of approximately 99 million for fiscal 2025.

The company has also withdrawn its long-term financial targets, announced in February last year, due to subsequent changes in the business environment, including more constrained consumer spending.