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Friday, February 7, 2020

=Canada Goose (GOOS) reported earnings on Fri 7 Feb 20 (b/o)

Canada Goose reports EPS in-line, revs in-line; lowers FY20 EPS and revs below consensus
  • Reports Q3 (Dec) earnings of CAD1.07 per share, in-line with the S&P Capital IQ Consensus of CAD1.07; revenues rose 13.2% year/year to CAD452.1 mln vs the CAD448.18 mln S&P Capital IQ Consensus.
  • Co issues downside guidance for FY20, sees EPS of CAD1.33-1.37 vs. CAD1.65 S&P Capital IQ Consensus, and down from prior guidance of CAD1.70; sees FY20 revs of CAD945-955 mln vs. CAD1.03 bln S&P Capital IQ Consensus, and down from prior guidance of +20% yr/yr to $996 mln.
  • Commentary from Co: "The coronavirus outbreak is having a material negative impact on performance in the current fiscal quarter ending March 29, 2020. As a result, the Company has revised its outlook for fiscal 2020, which was last reiterated with the release of second quarter fiscal 2020 results on November 13, 2019. The health crisis has resulted in a sharp decline in customer traffic and purchasing activity. Retail stores and e-commerce across Greater China have and continue to experience significant reductions in revenue. Due to global travel disruptions, retail stores in international shopping destinations in North America and Europe are also affected. No supply chain interruptions have occurred. The Company believes that this is a temporary change in consumer behavior due to health precautions in extraordinary circumstances. However, the extent and duration of the disruptions remain uncertain and prolonged disruptions may also negatively impact future fiscal periods. Canada Goose's brand and business momentum in Greater China remain strong, as reflected in the doubling of revenue in Asia in the fiscal third quarter prior to the outbreak."

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