Canada Goose’s second-quarter earnings and revenue beat analysts’ expectations. However, the company did express concerns about the impact of protests in Hong Kong.
The outdoor apparel maker reported adjusted earnings of 57 Canadian cents a share for the quarter, ahead of analysts' expectations of 43 cents.
Revenue increased +28% from a year ago to C$294.0 million ($221.6 million), surpassing the Street estimate of C$266.8 million.
Wholesale revenue expanded +22% to C$219.8 million, exceeding analysts' forecast of C$193.5 million. Direct-to-consumer revenue surged +47% to C$74.2 million, on the back of incremental revenue from new retail stores, and beat expectations of C$73.7 million,
Canada Goose recently opened a second store in Hong Kong. But CEO Dani Reiss told analysts on a conference call that the unrest in Hong Kong had a significant effect on the company's business there.