<\/p>\n
\n\tWhile Canada Goose Holdings has transcended the parka that made it famous \u2014 smoothing out the business with lightweight styles for the warmer months \u2014 it still found itself subject to the heatwave and luxury malaise in Europe in the second quarter.<\/p>\n
\n\tNet losses for the quarter ended Sept. 27 tallied $18.8 million and was a step back from losses of $15.2 million a year earlier.<\/p>\n
\n\tRevenues rose 5.9 percent to $274 million, a 4.9 percent gain in constant currencies.<\/p>\n
\n\tThe Toronto-based company reports its results in Canadian dollars, but trades in U.S. dollars on the New York Stock Exchange and reports per-share information on that basis.<\/p>\n
\n\tAdjusted losses of 20 cents a share were 2 cents steeper than the 18 cent deficit analysts forecast, according to Yahoo Finance.<\/p>\n
\n\tSales in North America were up 7.5 percent in constant currencies and Greater China was ahead 28.2 percent, but those gains were tempered by a 13.9 percent decline in Europe, the Middle East and Africa.<\/p>\n
\n\tThe weakness in the EMEA division came both from the softer luxury market there and, according to Dani Reiss, chairman and chief executive officer, \u201csome temporary product availability issues as we implemented our new logistics network. So that was a little self-inflicted.\u201d<\/p>\n
\n\tBut generally, Reiss said in an interview that the brand was as strong as ever, even if traffic was \u201ca bit softer.\u201d<\/p>\n
\n\t\u201cWhen customers came into our stores and engaged with us, they bought more products and we were able to convert at a much higher rate,\u201d Reiss said. \u201cE-commerce comps were positive. So customers are responding to us. Our products are resonating and our service and our experience is resonating and obviously driving some more traffic is important. It\u2019s a bit of a macro trend these days, but all the signs we\u2019re seeing with our customers are positive.<\/p>\n
\n\t\u201cWe\u2019re a year-round brand now,\u201d he said. \u201cThe growth that we\u2019re seeing in apparel and our apparel categories has proven that. Apparel, rainwear, wind wear \u2014 they all delivered strong double-digit growth, becoming a much larger part of our product mix. And that\u2019s not just technical product, casual product hoodies, knitwear, all those sorts of categories that resonate, too.\u201d<\/p>\n
\n\tThis year, Canada Goose is forecasting a low-single-digit increase in revenues with margins on adjusted earnings before interest and taxes ranging from 11 to 12 percent.<\/p>\n
#Canada #Goose #GOOS #Earnings #Expectations<\/p>\n","protected":false},"excerpt":{"rendered":"
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