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Canada Goose jumps 16% after the company reports growth surge in China

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Canada Goose Holdings Inc News

Canada Goose Holdings Inc,Breaking News: Business,Retail Industry

Shares of Canada Goose soared 16% on Thursday after the apparel company reported better-than-expected revenue and earnings for its fiscal fourth quarter.

CA$358 million , which may not compare with the CA$315.5 million expected by LSEG.Neil Bowden, Canada Goose's chief financial officer, said on an earnings call with analysts that store comparisons were "relatively flat," but year-over-year sales growth for the period was led by locations in Greater China — the region comprising Mainland China, Hong Kong, Macau and Taiwan — which saw a 29.7% increase. The broader Asia-Pacific region excluding Greater China was up 29.

Bowden said the growth was supported by domestic shopping on the Chinese mainland, as well as mainland tourists driving "strong growth" in Hong Kong and Macao.

 

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