(Toronto) Canada Goose Holdings surpassed expectations by recording a profit of $ 107 million in the third quarter on Thursday, in which total revenue rose for the first time since the outbreak.
The increase in online sales, the expansion of its store chain in China and the diversity of production helped the luxury park maker’s revenues to grow to 474.0 million, up from 452.1 million in the same quarter a year earlier.
Earnings per share for the quarter ended December 27 were 96 cents, compared to $ 118 million for the same period in 2019 or $ 1.07 per share.
The results were better than analysts had expected and pushed the company stock to the highest level since 2018. The stock closed at $ 10.05 or 22.4%, 54. $ 95 on the Toronto Stock Exchange – after rising to $ 58.52 earlier today.
On an adjusted basis, Canada Goose posted earnings per share of 1.01, down from 8 1.08 posted a year earlier.
Analysts averaged 86 cents per share and adjusted earnings of $ 415.3 million.
Online sales rose 40% in the recent quarter, with 7 of the company’s 28 retail stores still closed.
“The overall strength of our brand and digital business has allowed Canada Goose to return to growth in our largest quarter,” Chief Executive Officer Danny Reese said in a statement.
“Even though we are in a world of uncertainty, it is very encouraging for us to see our strong moment as we close the financial year.