=Canada Goose (GOOS) reported earnings on Wed 29 May 19 (b/o)

Canada Goose beats by CAD 0.04, misses on revs; guides FY20 EPS above consensus; guides FY20 revs below consensus; authorized a normal course issuer bid to purchase for cancellation up to 1.6 mln subordinate voting shares

• Reports Q4 (Mar) earnings of CAD 0.09 per share, excluding non-recurring items, CAD 0.04 better than the S&P Capital IQ Consensus of CAD 0.05; revenues rose 25.2% year/year to CAD 156.2 mln vs the CAD 158.85 mln S&P Capital IQ Consensus.
• Co issues guidance for FY20, sees EPS of +25% to CAD 1.70, excluding non-recurring items, vs. CAD 1.64 S&P Capital IQ Consensus; sees FY20 revs of +20% to CAD 996 mln vs. CAD 1.05 bln S&P Capital IQ Consensus.
• Key assumptions underlying the fiscal 2020 outlook above are as follows: Wholesale revenue growth in the high-single-digits on a percentage basis. Eight new retail stores in operation by the end of the winter selling season. One new digital concept store in operation by the end of the winter selling season, which will be an experiential showroom to drive local e-commerce sales in the Greater Toronto Area. It is not expected to generate revenue or operating income at a level consistent with the Company's traditional retail store format.
• Over the next three fiscal years, the Company currently expects the following: Average annual revenue growth of at least 20%. Annual adjusted EBIT margin expansion of at least 100 basis points in fiscal 2022, relative to fiscal 2019. Average annual growth in adjusted net income per diluted share of at least 25%.
• The board of directors of the Company has authorized a normal course issuer bid to purchase for cancellation up to 1,600,000 subordinate voting shares of Canada Goose over the twelve-month period commencing on May 31, 2019 and ending no later than May 30, 2020, representing approximately 2.70% of the 59,151,443 subordinate voting shares issued and outstanding as at May 17, 2019.