Canada Goose shares up after better-than-expects results, plans three new stores - Action News
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Canada Goose shares up after better-than-expects results, plans three new stores

Shares of Canada Goose Holdings Inc. soared more than 30 per cent on Friday after it reported stronger-than-expected earnings and announced plans for three new stores in North America.

Luxury parka maker reports fourth-quarter profit of $8.1 million or seven cents per share

Parka maker Canada Goose says it plans to add three new retail outlets, including stores in Montreal and Vancouver, ahead of the 2018 holiday shopping season. (Fred Thornhill /Reuters)

Shares of Canada Goose Holdings Inc. soared more than30 per cent on Fridayafter it reported stronger-than-expected earnings and announced plans for three new stores in North America.

Canada Goose shares closedup $18.02to$78.01on the Toronto Stock Exchange.

The increase came as the luxury parka maker reported a fourth-quarter profit of $8.1 million or seven cents per diluted share compared with a loss of $23.4 million or 23 cents per diluted share a year ago.

Revenue for the quarter ended March 31 totalled $124.8 million, up from $51.1 million in the same quarter a year earlier.

On an adjusted basis, Canada Goose said it earned $9.9 million or nine cents per diluted share.

Economists on average had expected a loss of eight cents per share for the quarter, according to Thomson Reuters Eikon.