Canada Goose (NYSE:GOOS) shares rose by a double-digit percentage prior to Thursday’s opening bell after easily clearing the bar set by analysts for its Q4 print.
For the fiscal fourth quarter, the Canadian jacket manufacturer reported C$0.14 in adjusted earnings per share on C$293.2M ($217.724M). Analysts had anticipated C$0.07 ($0.05) in earnings per share on C$257.06M ($189.68M) in revenue. The company credited a sharp rebound in demand from Chinese consumers and an over 20% jump in DTC sales for the strong sales performance, helping to offset some margin compression in the quarter.
“I am pleased with our fourth quarter results, particularly the strong revenue results generated in Greater China and EMEA,” CEO Dani Reiss said. “This is a testament to the strength of the brand and this momentum has continued alongside early encouraging results in North America in fiscal 2024 year to date. Lastly, I am excited by the progress our global teams have made in advancing our strategic growth pillars– to accelerate consumer focused growth, build out DTC, and create new and expand product categories, rapidly.”
Moving forward, the company anticipates total revenue between C$1.4B and C$1.5B for the full year and adjusted net income per diluted share in a range of C$1.20 to C$1.48. The consensus estimates for EPS and revenue stood at C$1.38 and C$1.32B, respectively, prior to the print.
For the first quarter of fiscal 2024, management projects total revenue C$70M to C$80M and an adjusted loss per share between C$0.89 and C$0.82. Analysts had projected a C$0.68 per share loss on $77.35M in revenue.
Shares of the Toronto-based company soared as much as 13% higher in premarket trading after the earnings announcement.