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Canada Goose Holdings Inc. stock fell as much as 12 per cent, even as the parka maker’s loss narrowed in the fourth quarter and revenue soared more than 30 per cent.
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The Toronto-based company reported on May 18 a loss of $3.1 million, or three cents per share, for the quarter ending April 2, compared to a $9.1-million loss, or nine cents per share, in the same quarter last year.
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Strong growth in Europe and Asia — particularly China — boosted overall revenue by more than 31 per cent to $293.2 million, up from $223.1 million last year.
“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,” chief executive Dani Reiss said in a statement.
Canada Goose announced a new strategic growth plan in February as it tries to reinvent itself from being known as a trendy puffer jacket purveyor to a lifestyle brand with expanded offerings — such as sunglasses, luggage and home goods — to reach more women and gen Z customers.
