Canada Goose Warns of Slowing Growth
Comprehensive net income in the seasonally small final fiscal quarter ended Mar. 31 slipped 10% to C$6.0 million ($4.5 mm) from C$6.7 million on 25% higher sales of C$156.2 million ($117.4 mm) up from C$124.8 million, but GOOS forecast revenue growth slowing to about 20% in the coming year sending its share price tumbling. Direct-to-consumer revenue gained 29% to C$122.4 million, while wholesale was up 13% to C$33.8 million. Blended gross margin expanded 290 basis points to 65.6% but SG&A jumped by C$24.1 million, or 54.4% of sales up from 48.8%. The bottom line included a C$3.0 million hit from ... Log in to view full article.