Canada Goose saw its bottom line improve during its fiscal third quarter despite a slight dip in volume. Net income attributable to shareholders was $139.7 million, or $1.42 per diluted share, compared with $130.6 million, or $1.29, a year earlier. The brand saw significant lift in business during December stemming from intensified marketing around the Snow Goose collection designed by Haider Ackermann. Canada Goose maintained its annual revenue forecast calling for a low-single-digit increase to a low-single-digit decline. But the company reduced its forecast for adjusted EBIT margin to flat to down 100 basis points.
, the luxury outerwear, apparel, footwear and accessories brand, managed to improve its bottom line in its fiscal third quarter, despite a slight dip in volume.
Adjusted profits rose to $148.3 million from $138.6 million. Gross profit increased 0.5 percent to $452 million while gross margins increased to 74.4 percent of sales, up from 73.7 percent, primarily due to pricing and lower inventory provisioning, partially offset by product mix.Total third-quarter revenue was also nearly flat at $607.9 million, versus $609.9 million in the year-ago period, on a constant currency basis.
Carrie Baker, president, brand and commercial, said during a conference call with analysts that Canada Goose during the fiscal third quarter underwent “foundational transformation and product evolution” with light down-filled outerwear as well as apparel including cropped jackets among the bestsellers. The company is becoming “more relevant year-round,” and is improving on its full-price positioning, Baker said.
Fashion CANADAGOOSE FASHION PROFITS REVENUE SNOW GOOSE MARKETING
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