Canada Goose Q2 profit up from year ago, full-year outlook raised

TORONTO – Canada Goose Holdings Inc. raised its outlook on Thursday as it reported double-digit improvements to its second-quarter profit and revenue compared with a year ago.

The Toronto-based maker of high-end parkas (TSX:GOOS) says it earned $37.1 million for the three months ended Sept. 30.

That’s up 85.5 per cent from $20 million in last year’s second quarter.

The profit amounted to 33 cents per share, up from 20 cents per share a year earlier when Canada Goose had fewer shares outstanding.

Revenue climbed 35 per cent to $172.3 million, from $127.9 million.

In its revised outlook, Canada Goose says it now expects annual revenue growth of at least 25 per cent compared with earlier expectations of growth in the mid-to-high teens.

Annual growth in adjusted net income per diluted share is also expected to grow least 35 per cent compared with earlier expectations of approximately 20 per cent, the company says.