|Bid||46.17 x 0|
|Ask||46.20 x 0|
|Day's Range||44.20 - 52.65|
|52 Week Range||42.38 - 95.58|
|Beta (3Y Monthly)||3.43|
|PE Ratio (TTM)||39.23|
|Earnings Date||Feb. 12, 2020 - Feb. 17, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||67.41|
Canada Goose's stock fell Wednesday as violent protests and political upheaval in Hong Kong led to a weaker performance at two of its stores.
Shares of Canada Goose Holdings Inc. sank even though it beat expectations as revenue grow more than 25 per cent in its most recent quarter partly as a result of a jump in Asia despite ongoing tensions in Hong Kong.Canada Goose shares lost $4.96 or 9.6 per cent at $46.82 in afternoon trading on the Toronto Stock Exchange.The shares fell as the company warned Wednesday that wholesale revenues are expected to decrease in the third quarter because orders were advanced leaving fewer remaining winter orders to come.The luxury parka retailer reported a $60.6 million second-quarter profit, amounting to 55 cents per diluted share for the period ending Sept. 29. That's compared with a $49.9-million profit, or 45 cents per diluted share, in the same quarter the previous year.On an adjusted basis, the company said it earned $63.6 million or 57 cents per diluted share, up from $51.1 million or 46 cents per diluted share a year ago.Analysts on average had expected a profit of 43 cents per share and $267.3 million in revenue, according to financial markets data firm Refinitiv.Revenue totalled $294.0 million, up from $230.3 million.In Asia, revenue nearly doubled from $26.2 million in the second quarter of 2018 to $48.9 million this year.The increase was realized even though the performance at the company's store in Shanghai's IFC Mall and Hong Kong's Ocean Center have "been impacted significantly" by a reduction in tourism and retail traffic that intensified over the quarter, CEO Dani Reiss said in a conference call.Hong Kong, which is part of China but has its own legal system and greater freedoms than the mainland, has seen increasingly violent protests as some say their freedoms are threatened. They accuse the city government of being beholden to Beijing.The protests started in June to oppose a now-withdrawn extradition bill. Chinese authorities have called protesters "rioters," as well as "murderers" more recently.Reiss said strong performance in other markets offset the impact in Hong Kong.The company is watching the situation closely and evaluating actions to streamline its cost base on the ground, including negotiating accommodations from landlords."Although ... we wish that the situation was different today, we are developing markets and building stores for decades, not just for the next quarter," he said.— With files from The Associated PressThis report by The Canadian Press was first published Nov. 13, 2019.Companies in this story: (TSX:GOOS)Aleksandra Sagan, The Canadian PressNote to readers: This is a corrected story. A headline in an earlier version incorrectly referred to third quarter.
Canada Goose Holdings Inc said earlier-than-usual shipments of its parkas and jackets to retailers would hurt its wholesale business in the current quarter and that its Hong Kong store came under pressure from protests in the city. Shares of Canada Goose fell 10% on Wednesday, erasing premarket gains, after the company said third-quarter revenue from wholesale, its biggest business by sales, would decrease in the mid-teens on a percentage basis from a year earlier. "We've shipped so much of our fall/winter order book earlier, which naturally means less shipments in the next quarter," Chief Executive Officer Dani Reiss told analysts on a conference call.
(Bloomberg) -- Canada Goose Holdings Inc. fell on Wednesday after saying that unrest in Hong Kong hurt its business there and that wholesale revenue will decline this quarter. Earlier, the stock had risen, bolstered by sales in Asia.Chief Executive Officer Dani Reiss said performance in Hong Kong, where Canada Goose recently opened a second store, was significantly impacted by protests. The parka maker reported global revenue increased 28% to C$294 million ($221 million) in the fiscal second quarter, outpacing projections. The company didn’t raise its guidance for the full year and reported that inventory expanded. For more details, see here.Key InsightsThe Toronto-based company cited “standout performances in Asia” during last quarter in its statement, but the follow-up comments about Hong Kong sparked a reversal in the shares. Despite the disruptions, demand in China remains strong, the company said.Investors also reacted to a forecast that third-quarter wholesale revenue would decline “in the mid teens,“ as some orders were fulfilled earlier in the season this year. That drop doesn’t mesh well with a 61% jump in inventory that Canada Goose says it’s building up as a buffer to maximize production efficiency. Reiss said there’s no risk of excess because most of the inventory is carried over year after year and sold at full price.Canada Goose posted strong sales growth in the U.S., where it has faced increased scrutiny since going public over the use of coyote fur in its parkas. California became the first U.S. state to ban fur sales in October, with legislation to take effect in 2023.Management has moved to broaden its offerings beyond winter products, adding items such as rain gear and lightweight jackets. The company acquired bootmaker Baffin Inc. for C$32.5 million late last year to begin building a footwear business under the Canada Goose name.Market ReactionU.S. shares of Canada Goose fell as much as 11%, the most intraday in more than five months, to $34.68 in New York. They had lost 11% this year through Tuesday’s close, compared with the 22% gain in the S&P 500 Retailing Index.For company statement, click here.(Updates with inventory and wholesale outlook, share drop)\--With assistance from Janet Freund and Cécile Daurat.To contact the reporters on this story: Sandrine Rastello in Montreal at firstname.lastname@example.org;Kim Bhasin in New York at email@example.comTo contact the editors responsible for this story: Anne Riley Moffat at firstname.lastname@example.org, Jonathan Roeder, Lisa WolfsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com - Canada Goose (NYSE:GOOS) had its feathers ruffled after an earnings call on Wednesday, as the retailer warned that recent protests in Hong Kong will have a significant impact on the current quarter.
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Canada Goose Holdings Inc. (“Canada Goose” or the “Company”) (NYSE: GOOS, TSX: GOOS) today announced that the Company plans to issue results for the second quarter of fiscal 2020, ended September 29, 2019, prior to the market open on Wednesday, November 13, 2019. The Company invites investors to listen to a live webcast of its conference call being held on the same day at 9:00am ET. The live webcast will be available on the investor relations page of the Company’s website at http://investor.canadagoose.com.
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New York, New York--(Newsfile Corp. - November 2, 2019) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Canada Goose Holdings, Inc. (NYSE: GOOS) ("Canada Goose" or the "Company").Faruqi & Faruqi LogoIf you invested in Canada Goose stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/GOOS. There is no cost or obligation to you.You can also contact us by calling Richard Gonnello ...
New York, New York--(Newsfile Corp. - November 1, 2019) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Canada Goose Holdings, Inc. (NYSE: GOOS) ("Canada Goose" or the "Company").Faruqi & Faruqi LogoIf you invested in Canada Goose stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/GOOS. There is no cost or obligation to you.You can also contact us by calling Richard Gonnello ...
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