Canada Goose Holdings Inc. reported a loss of $3.1 million in its fourth quarter compared with a loss of $9.1 million a year earlier as its revenue rose more than 30 per cent.
The luxury parka maker says it lost three cents per diluted share for the quarter ended April 2, down from a loss of nine cents per diluted share a year earlier.
Revenue in the fourth quarter of the company's 2023 financial year totalled $293.2 million, up from $223.1 million in the same quarter last year.
On an adjusted basis, Canada Goose says it earned 14 cents per diluted share, up from an adjusted profit of four cents per diluted share a year earlier.
Analysts on average had expected an adjusted profit of 11 cents per share and $259.1 million in revenue, according to estimates compiled by financial markets data firm Refinitiv.
In its outlook for its 2024 financial year, Canada Goose says it expects total revenue between $1.4 billion and $1.5 billion and an adjusted profit between $1.20 and $1.48 per diluted share. Revenue in its first quarter is expected between $70 million and $80 million, while its adjusted loss per share is forecast between 82 and 89 cents for the quarter.
This report by The Canadian Press was first published May 18, 2023.
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