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Canada Goose stock warms up as it posts fiscal 3Q earnings beat on revenue surge

The company said it now expects fiscal 2019 earnings of $0.94 to $0.97 per share, with revenue of $602.7 million to $625.2 million
A model wearing a Canada Goose coat
Canada Goose has grown into one of the world’s leading makers of performance luxury apparel

Canada Goose Holdings Inc (TSX:GOOS) (NYSE:GOOS) stock climbed in premarket trade Thursday after it easily surpassed fiscal third-quarter forecasts for both earnings and revenue, led by the strong sales of its luxury parkas.

For the quarter ended December 2018, the Canadian company posted earnings of C$0.72 per share on revenue of C$302.2 million. The consensus earnings estimate was $0.58 per share on revenue of C$260 million. Revenue grew 44.4% on a year-over-year basis.

Shares in Canada Goose climbed 3.2% to C$61.19.

READ: Canada Goose Holding beats fiscal 2Q earnings and revenue; shares jump

“Fiscal 2019 is shaping up to be another year of impressive results. In our peak selling season we continued to deliver when and where it matters most,” said Canada Goose CEO Dani Reiss. “We have successfully entered new markets, introduced new product, and increased capacity to meet growing demand in both channels. We remain confident in the long runway we have ahead.”

Bright Outlook

The company said it now expects fiscal 2019 earnings of C$0.94 to C$0.97 per share, with revenue of C$602.7 million to C$625.2 million. The current consensus earnings estimate is $0.94 per share on revenue of C$601.2 million for the year ending March 31, 2019.

Contact Uttara Choudhury at [email protected]

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