Canada Goose (NYSE:GOOS) earnings for the winter clothing company’s fiscal first quarter of 2021 have GOOS stock falling on Tuesday. That’s despite its adjusted losses per share of 35 cents CAD beating Wall Street’s estimate for a 40-cent CAD loss. Its revenue of 26.1 million CAD also comes in above analysts’ estimate of 21.9 million CAD.
Here’s what else is worth noting from the most recent Canada Goose earnings report.
- Adjusted per-share losses are 66.7% wider compared to 21 cents CAD during the same time last year.
- Revenue for the quarter comes in 63.3% lower than the 71.1 million CAD reported in fiscal Q1 2020.
- Operating loss of 59.3 million CAD is 115.6% worse year-over-year from a loss of 27.5 million CAD.
- The Canada Goose earnings report also includes a net loss of 50.1 million CAD.
- That’s a 70.4% larger net loss than the 29.4 million CAD reported in the same period of the year prior.
Dani Reiss, president and CEO of Canada Goose, said this in the earnings report.
“Adversity demands change, drives innovation and reveals winners. For Canada Goose, that has never been more true than today, as we begin to see signs of recovery around the world, heading into our most important season. Where we face uncertainty, we have practiced discipline and flexibility, and where we see opportunity, we have accelerated our strategic plans.”
Canada Goose isn’t providing guidance for fiscal 2021 due to the novel coronavirus. However, it expects revenue during its fiscal second quarter of 2021 to continue to decline.
GOOS stock was down 3.4% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.