The outerwear manufacturer Canada Goose Holdings Inc has announced financial results for fourth quarter ended March 31, 2018. During the period under review, it reported better than predictednet income of C$8.1 million ($6.17 million) as compared to a loss of C$23.4 million in the same quarter a year back.
Gross margin during the period under review stood at 62.7 percent as compared to 54.4 per cent in the corresponding period last year. The manufacturer of Parkas (type of coat with a hood, often lined with fur or faux fur) reported revenue from its direct-to-consumer segment increased from C$36.5 million last year to C$95 million this year.
Canada Goose reported 46 per cent growth in revenue to C$591 million and net income of C$96 million in the fiscal year ended March 31.
The company which has opened its own stores, now expects at least 20 per cent growth in revenue for the next three years and adjusted net income per share growth of at least 25 percent. Additionally, it also unveiled its plan to kick off operations in China and Hong Kong. The retailer has also started manufacturing more of its goose-down coats itself.
The retailer is aiming to increase its global store count to 20 by 2020. It currently operates seven brick-and-mortar stores in London, New York, Toronto, Boston, Chicago, Calgary and Tokyo.
It also retails its products through e-commerce in 12 countries.
