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~GOOS~ shattered the 52 week of High of $48.04,,, briefly touching $48.51 today!!
~GOOS~ ended the day ONCE AGAIN GREEN +.70/+1.5% with a closing pps of $47.66!!
Congrats longs! Expecting a green TSX day tomorrow after a red one today and GOOS to go back over $48+.
With financials next week I think they will beat expectations again,, the question is will the woo factor be there for the 'savy investors',, I believe with the late/extended winter this past season #'S will be better than expected and we test $50+ on earnings day,,, I am gonna chance it again,, worst case scenario this will eventually go back up again.
GOOSE is one of the Top 25 TSX stocks to own in 2018/19 IMO.
Glta
$GOOS$
Goooooooooooose just hit a new 52 week high!!!!!!!
Weeeeeeeeeeeeeeeeeeee!
Current pps $48.35!!!!!!!
Glta
$GOOS$
*** Earnings next Wed/ Thurs***
~GOOS~ what a bloody 'BEAST'
Looking to make new 52 week highs TODAY!!
GOOS currently at around $47.80 now!
Glta
$GOOS$
GOOS currently up +$1.63/+3.69% with a pps of $45.78!!
Earnings only 4-5 weeks away!!
Pps will continue to blast off in advance and after amazing #'s!
Glta
$GOOS$
GOOS slow and steady wins the race,,, expecting pps to be over $45+ tomorrow and more 52 week highs to be reached in coming weeks in advance of next amazing earnings imo
Glta
$GOOS$
'The ol saying Jack and Jill went up the hill with a buck and a quarter each ,,,,, GOOS came down with $2.50!!!! LOLZzzzzz
GOOS on a rampage last 2 days itchin like a mofo wanting to reach new 52 week highs,,,. Could it be tomorrow??
Over $2.50+ past 2 days in Green and over $5+ in green past 6 trading days!
GOOS even touched at $47.49 today,,a few people at the end selling to take a few profits,, good thing to do sometimes but this is goin way higher in next few weeks,,, one PR will boost this $'s UP and no PR,,, well it's been going up without PR.
GOOS is one of the Top 25 TSX stocks to own in 2018 imo and we have a great board here with professional traders like JoeC and myself and we both own many GOOSE products.
Glta
$GOOS$
GOOS went Ballistic on Friday closing GREEN +$2.04/+4.69% with a pps of $45.50!!!
Looking really strong and imo wanting to test new 52 week highs in the next week or two.
GOOS is one of the Top 25 TSX stocks to own in 2018 and with the recent cold weather persisting especially in the prairies and eastern Canada GOOS will continue to impress with the next quarter earnings IMO and when we get the new outlook for the remainder of 2018.
Glta
$GOOS$
GOOS finished the day up +$1.82/+4.36% to close at $43.57!!!
What an amazing comeback which I expected honestly.
Expecting GOOS to test new 52 week highs the next 5-10 trading days and I think we will see $50+ by the first/2nd week of march.
The only reason GOOS came down was the lack of info re: guidance for 2018,, and as always when a company announces a New CFO people start to poop ?? their ??.. pathetic but always happens,, I think we would be just over $55 today if they included the 2018 guidance during earnings release,, what's there to lose? They beat earnings and we still have winter for 2-3 months in most of Canada so sales will continue strong.
Anyways GOOS one of the Top 25 TSX stocks to own in 2018!
Glta
$GOOS$
NO! NO no no
dang rough day eh
may have to start getting shares again soon
GOOS was up +$1.41/+3.1% to close at $47.83!!! A new 52 week high!!!
Earnings out tomorrow pre-market!!
Expecting 12-16 PERCENT GAINS!!
By close tomorrow imo I expect pps to be in the $53.50-$54.50+ range!!
.. and a little more green to close Friday.
GOOS is one of the TOP 25 TSX stocks to own in 2018/19.
Glta
$GOOS$
Glad to see you still here Joe!,,this next earnings report ( the week of feb5-9)is gonna be outta this world imo,, I think leading up to report pps will be between $45-$46+ and the premarket of earnings we easily gap up $50+,, I expect earnings day pps to 10-14%+ up ( $4-$6+) and next day to be up at least $1+ making pps in the $51-$52++ the week feb 12-16th imo
Best of luck and hope I can get access back to this board
Mt.
$GOOS$
No prob Hunch!,,, how did u access the board? I can't anymore, wonder if they banned me for some strange reason?
Hope you're enjoying the weekend so far
$GOOS$
Interesting, thanks Mt69sinai:)
What happened to Canada Goose board?! Can't access it anymore,, anyone else have this problem?
Looks like Goose is setting a new bott om in $40-$41 range,,, more explosive fireworks from here on end! Imo
Glta
$GOOS$
BREAKOUT CONFIRMED breakout above 32.28, no resistance in area just above.
Type: Continuation breakout from single resistance.
Target: 34.93, 6.3% Stop: 31.95 Loss: 2.8% P/L ratio: 2.2 : 1 - Good
Friends you got a chance here to have one of those high end retail stocks thats goes to 80. Lulu, Nike, UA, and the high end handbag market..Coach, Kors, Tif, LB all had big runs way above 60..this is set up for that kind of a 2 year run...lets have fun..I knew it was going to 30 quickly and still time to get in..
Canada Goose (GOOS) set another 52 week high today!!
GOOS is currently up +.50/+1.45% with a pps of $35.08!!!
Expecting more new 52 week highs into power hour today. Gonna be a great weekend.
GOOS is one of the TOP 25 TSX stocks to be in 2017/18... If held over 6-18 months this is easily a minimum $50-$75+ stock.
Glta
$GOOS$
Looks like a possible Gappa first thing this morning as current ask/bid is $34.71.
Yesterday GOOS hit YET ANOTHER 52 week high to touch $35.00!!!!
GOOS closed the day at $34.33!... Still a new 52 week close.
Goose is one of the Top 25 TSX stocks to own for remainder of 2017/2018 and my latest prediction of a pps in the range of $35-$37+ by Jan 1st may have to take yet another revision... Will make my new pps projection on Dec1st.
Best of luck to all!
$$$$$$GOOS$$$$$
holyyyyyyyyyy sheeeeeeeeeeeit!!!
GOOS closes the week UP +$1.71/5.35% to end with a closing pps of $33.67!!!!!!!....AND closed at The High Of THe Day....AND closes at the New 52 Week High!!!!
Helloooooooo Steak &Prawns tonite at The Keg with a few Keg sized Caesars.
We have some of the finest investors on this board like JoeC and me self.... I will be trying to get Starkd to come back to this stick CUZ there is a ton of time for us to continue moving North the next 6-18 months. This is easily a minimum $50-$75+ stock to own if you hold for the next 6-18 months.
My earlier prediction of us being at $30+ by years end has taken yet another revision... I now expect Goose to be in the $35-$37+ by Jan 1st 2018 but that may be just a bit too conservative the way this beast is moving .
Like I said definately not too late to still get in for anyone reading this board or monitoring pps movement.
GOOS IMO is one of the Top 25 TSX stocks to own 2017/18 and GOOS board here on ihub one of the Top 30 boards to be on.... Zero negativity,,,just 100% POSITIVITY!
Glta,,. Signing out and have a great weekend all!
Mt.
$$$$$GOOS$$$$$
Goooooooooooooooooooose!!!!!!!
What a mofo BEAST!!
GOOS is UP +$1.29/+4.04% with a current pps of $33.25!!!
GOOS hit another new 52 week high!!
Loooooooooking mighty fine into power hour today and the weekend!
Glta
$GOOS$
Goose Direct-to-Consumer Plan Pays Off
By Sandrine Rastello
November 9, 2017, 8:17 AM EST
Updated on November 9, 2017, 9:40 AM EST
Luxury parka maker boosts forecasts for sales, profit
Company on track to have seven retail stores this quarter
Photographer: Galit Rodan/Bloomberg
Banking on e-commerce and a few flagship stores is paying off for luxury parka maker Canada Goose Holdings Inc.
The Toronto-based company on Thursday raised its earnings forecasts for the fiscal year while reporting quarterly sales that beat estimates after its direct-to-consumer strategy helped boost margins. The stock posted its biggest gain in five months.
The 60-year-old company, which went public in March, is reducing its reliance on struggling retailers that accounted for all of its sales just three years ago. It launched e-commerce sites in seven new markets and recently added Chicago and Tokyo to its Toronto and New York brick-and-mortar stores, with more openings planned in North America and Europe.
Profit, excluding some items, rose to 29 cents a share in the period ended Sept. 30, more than the highest analyst estimate. While wholesale revenue still accounted for the bulk of sales, the direct-to-consumer segment, which comes with higher margins, rose almost fourfold to C$20.3 million ($16 million). Overall margins rose to 50.5 percent, the company said in a statement Thursday.
In new forecasts:
Canada Goose sees annual sales growth of at least 25 percent instead of “mid-to-high teens”
Expects earnings before interest, taxes, depreciation and amortization margin growth of at least 50 basis points
Adjusted per share profit growth of at least 35 percent, from the previous estimate of 20 percent.
Shares have risen 85 percent since the initial public offering as investors bet consumers will be eager to pay as much as $1,495 for its made-in-Canada parkas. The stock jumped 15 percent to C$31.93 at 9:38 a.m. in Toronto.
$GOOS$
Canada Goose sees half of profits in long term from own stores, e-commerce
Shares rise as company raises 2018 revenue expectations
Reuters
November 09, 2017
hi-852-canada-goose
Canada Goose (Fred Thornhill /Reuters)
Luxury apparel maker Canada Goose Holdings expects its fledgling direct-to-consumer business to contribute about half its profits in the long term, from about 14 per cent in the three months through September, chief executive officer Dani Reiss said on Thursday.
The company, which reported a bigger-than-expected profit in the quarter ended Sept. 30, also said operating income from its direct-to-consumer business, comprising own-store and online sales, was 18 times higher than a year ago.
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"We see, over time, direct-to-consumer and wholesale coming more into balance," Reiss told Reuters, declining to specify a time frame. "We don't have plans to open 100s of stores. We have plans to systematically and strategically open the right stores in the right places."
Share surge
Shares in Canada Goose jumped more than 13 per cent on Thursday to $31.41 in Toronto, more than 79 per cent above its March initial public offering price, in stark contrast to rival Roots Inc., which is 22 per cent below last month's IPO price.
Canada Goose has said it expects to open up to 20 physical stores around the world by 2020.
Canada Goose, which has historically sold its products through wholesalers, began opening its own stores last year, at a time when several rivals and department stores were reporting falling sales and shrinking margins, with its luxury pedigree helping cushion it from the retail industry's struggles.
Canada Goose to build its 1st retail nest with stores in Toronto and NYC
The maker of $900 parkas has opened stores in Toronto, New York, Chicago, Tokyo and London since 2016 and will open in Calgary and Boston before the end of 2017. It also operates 11 online stores across North America and Europe.
It will continue to maintain its relationships with its wholesale partners, Reiss said.
'Risky gambit'
"It speaks to the strength and differentiation of the (Canada Goose) brand," said Brian Madden, portfolio manager at Goodreid Investment Counsel in Toronto, who said he is waiting for the first holiday selling season since Canada Goose listed to decide whether to buy the stock.
New stores are "a risky gambit," he said. But "putting up physical stores in upscale districts does showcase the brand and builds awareness, which they can't do when they're inside a department store."
Operating profit from direct-to-consumer operations jumped to $6.6 million from $369,000 a year ago, Canada Goose said. Operating profit from wholesale rose 30 per cent to $60 million.
The company raised its fiscal 2018 revenue growth forecast to 25 per cent from mid-to-high teens estimated earlier.
$GOOS$
Goose WILL CONTINUE TO DELIVER!! Bang on Joe!
Goose finished the week up +$1.54/+4.9% to close at $32.95!! 52week high reached today!!
The party train has just started to take off!! ... Not too late for anyone to get into this gem/goldmine,
Yesterday financials prove Goose will deliver from here on in to 2018/19 IMO.
With the 2 busiest seasons/financial quarters ahead of us I see NOTHING in the way of us continuing to go North,,, with the exception of some healthy pullbacks.
Sure PETA tried real hard to stir up some garbage about the way the Geese have been treated but GOOSE headquarters have responded honestly and that little one day blimp in pps has been long forgotten.
Goose's new knitwear is already proving to be successful and I saw some products yesterday when I was in Harry Rosen store. They keep coming up with amazing jackets that keep you warm from -5 Celsius to -15 Celsius to -40 Celsius+ parkas. I own a winter grey jacket currently and a down vest, and am planning to buy the -5 black jacket for a Xmas gift to myself,,,, product is highly wanted especially on the west coast of Canada and let's face it chicks 'Dig it'.
Anyways Joe have a great long weekend and look forward to more great news/updates for Goose in the near future,,, we have a winner and if one is brave to hold a min 6months-18 months this is a no brainer big board stock that will hit 50-75+.
$$$GOOS$$$
I've always been amazed for years how much people love Canada Goose up here. Only watched the jackets get nicer and nicer and the lineup for the stores grow and grow. So naturally when the IPO came out it was a no brainer for me. I can assure you GOOS will continue to deliver. :)
GOOS just hit another High of Day with a pps of $33.05!!! Congrats all longs! More to come during power hour today... The Big Dawgs know where the money is at now!
Glta
$GOOS$
I agree Joe! ... Some nice healthy pullbacks and new highs of day to come... I have a good feeling we will have a good power hour today going into the weekend... And no massive selloffs here... People know what they own here after yesterday's amazing results.
Gl
$GOOS$
Another beauty day! GOOS really is unstoppable!!
Merry early Christmas is right!
UNEFFING BELIEVABLE!!!
GOOS is currently up +.90/+2.87% at a PPS of $32.31!!!
Expecting a very possible test of the 52 week high during power hour today and maybe a close just over $33+!... We'll see would be amazing going into our Canadian long weekend.
My earlier projections of a pps of $30+ by years end have already been shattered,,,, I am now expecting a pps by years end in the range of $35-$37+!
With the current next two crazy busy seasons/quarters I expect a steady pps climb more northward than anything and IMO this is easily a min $50-$75+ stock if you hold over the next 6-18 months.
Canada Goose IMO is one of the Top 25 TSX stocks to own in 2017/2018 and it really shows that management cares about the shareholders.
Glta and enjoy the continuous ride to the North Pole for the rest of 2017 into 2018,,, after all after holiday Monday it is officially Christmas season and looks like we are already getting an early Christmas present.
Mt.
$$$GOOS$$$
Congrats Joe!!! Glad you are still here,,, my prediction of $30+ by years end... May have to increase it to $34/$35 by years end... I think we close near $32 by end of power hour.
Best of luck
$GOOS$
Ez call boom! GOOS continues to deliver!!
Canada Goose Reports Results for Second Quarter Fiscal Year 2018
11/09/17
Company Increases Fiscal 2018 Outlook
Second Quarter Fiscal 2018 Highlights (in Canadian dollars):
Total revenue increased $44.4 million to $172.3 million, representing year-over-year growth of 34.7%
Gross margin expanded to 50.5% from 46.4% in the prior year
Adjusted EBITDA was $46.4 million, compared to $33.8 million in the prior year, representing year-over-year growth of 37.3%
Net income was $37.1 million, or $0.33 per diluted share, and adjusted net income was $32.9 million, or $0.29 per diluted share
TORONTO--(BUSINESS WIRE)-- Canada Goose Holdings Inc. (“Canada Goose” or the “Company”) (NYSE: GOOS, TSX: GOOS) today announced financial results for its second quarter ended September 30, 2017. The Company’s Management’s Discussion and Analysis and Unaudited Condensed Consolidated Interim Financial Statements for the three and six month periods ended September 30, 2017 will be filed on SEDAR at www.sedar.com, the EDGAR section of the U.S. Securities and Exchange Commission website at www.sec.gov and posted on the Company’s website at investor.canadagoose.com.
“Our performance reflects the power of our brand around the world and our disciplined approach to executing our growth strategies. We have opened e-commerce sites in all seven of the new markets planned for fiscal 2018 and we remain on-track to have seven world-class retail destinations in operation in the third quarter of fiscal 2018, including our recently opened stores in Chicago and Tokyo. I am also encouraged by the response to our first knitwear collection which embodies our function-first design philosophy and stays true to our authentic utilitarian aesthetic,” stated Dani Reiss, President & Chief Executive Officer. “With strong results across channels, geographies and categories, we continue to drive awareness and penetration while inspiring those who already know and love our brand. Most importantly, we remain deeply committed to building an enduring brand for the long term.”
Fiscal 2018 Second Quarter Results (in Canadian dollars, compared to the same period in Fiscal 2017):
Total revenue increased by $44.4 million from $127.9 million to $172.3 million in the second quarter of fiscal 2017, representing year-over-year growth of 34.7%.
Wholesale revenue was $152.1 million as compared to $122.4 million in the second quarter of fiscal 2017, driven by growth across all regions. In the quarter, revenue of approximately $13 million, which was originally expected to be earned in the third quarter, was pulled forward . Enabled by increased efficiency in manufacturing and sales planning, shipment timing was accelerated in response to requests from retail partners approaching their peak selling season. Through the first half of fiscal 2018, our pull-forward revenue in the wholesale channel was approximately $18 million.
Direct-to-consumer revenue was $20.3 million as compared to $5.5 million in the second quarter of fiscal 2017, driven by strong growth in our North American e-commerce business and incremental revenue from new retail stores and e-commerce sites which were not operating in the same period last year.
Gross profit increased to $87.1 million from $59.3 million in the second quarter of fiscal 2017. As a percentage of total revenue, gross profit was 50.5% compared to 46.4% in the second quarter of fiscal 2017.
Wholesale gross profit was $72.2 million, a gross margin of 47.4%, as compared to $55.5 million a gross margin of 45.4%, in the second quarter of fiscal 2017. The increase in wholesale gross margin was the result of a shift in sales to higher margin geographies, lower cost of purchases in U.S. dollars and lower inventory reserves.
Direct-to-consumer gross profit increased to $14.9 million, a gross margin of 73.7% from $3.8 million, a gross margin of 69.2%, in the second quarter of fiscal 2017.
Selling, general and administrative expenses were $36.5 million compared to $30.2 million in the second quarter of fiscal 2017, driven by the costs of retail stores in Toronto and New York which were not operating in the same period last year, as well as investments across the business to support continued growth. These increases were partially offset by an unrealized foreign exchange gain of $5.8 million on the term loan and a timing shift in marketing investments to the remainder of fiscal 2018.
Adjusted EBITDA was $46.4 million compared to $33.8 million in the prior year, representing year-over-year growth of 37.3%.
The effective tax rate was 16.8% compared to 20.7% in the second quarter of fiscal 2017 and a statutory tax rate of 25.4%. The decrease in the effective tax rate was primarily driven by the non-taxable portion of the $5.8 million unrealized foreign exchange gain and the timing of taxable income in jurisdictions with statutory tax rate differences.
Net income for the second quarter was $37.1 million, or $0.33 per diluted share, compared to net income of $20.0 million, or $0.20 per share, in the second quarter of 2017.
Adjusted net income per diluted share for the second quarter of fiscal 2018 was $0.29, based on 111.5 million diluted shares outstanding, compared to an adjusted net income per diluted share of $0.23, based on 101.7 million diluted shares outstanding in the second quarter of fiscal 2017. Adjusted pro forma net income per share for the second quarter of fiscal 2017, which includes the effect of the Initial Public Offering (“IPO”) in the calculation of the weighted average number of shares outstanding as if the IPO had occurred at the beginning of fiscal 2017, was $0.22 per share based on 106.3 million shares.
Revised Fiscal 2018 Outlook
Based on stronger than expected growth across our business, with a particular contribution from our direct-to-consumer segment, the Company expects fiscal 2018 results to exceed the long-term and fiscal year outlook which was originally provided with the release of fourth quarter and fiscal year 2017 results on June 2, 2017.
For fiscal 2018, the Company currently expects:
Annual revenue growth on a percentage basis of at least 25% versus the previous expectation of mid-to-high teens;
Adjusted EBITDA margin expansion of at least 50 basis points versus the previous expectation of flat to modestly expanding; and
Annual growth in adjusted net income per diluted share on a percentage basis of at least 35% versus the previous expectation of approximately 20%. This assumes year-over-year comparison to adjusted net income per pro forma diluted share of $0.41 in fiscal 2017 and weighted average diluted shares outstanding of 110.9 million for fiscal 2018.
Conference Call Information
A conference call to discuss second quarter fiscal 2018 results is scheduled for today, November 9, 2017, at 9:00 a.m. Eastern Time. Dani Reiss, President and Chief Executive Officer and John Black, Chief Financial Officer, will host the conference call. Those interested in participating in the call are invited to dial (866) 393-4306 or (734) 385-2616 if calling internationally. Please dial in approximately 10 minutes prior to the start of the call and reference Conference ID 5093389 when prompted. A live audio webcast of the conference call will be available online at http://investor.canadagoose.com.
About Canada Goose
Founded in a small warehouse in Toronto, Canada in 1957, Canada Goose has grown into one of the world’s leading makers of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic and inspired by relentless innovation and uncompromised craftsmanship. From Antarctic research facilities and the Canadian High Arctic, to the streets of New York, London, Milan, Paris, and Tokyo, people are proud to wear Canada Goose products. Employing more than 2,000 people worldwide, Canada Goose is a recognized leader for its Made in Canada commitment, and is a long-time partner of Polar Bears International. Visit canadagoose.com for more information.
Note Regarding Non-IFRS Financial Measures
This press release includes references to adjusted net income, EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income per share and per diluted share, and adjusted pro forma net income per share and per diluted share. The Company presents these measures because its management uses these as supplemental measures in assessing its operating performance, and believes they are helpful to investors, securities analysts and other interested parties, in evaluating the Company’s performance. The measures referenced above are not measurements of financial performance under IFRS and they should not be considered as alternatives to measures of performance derived in accordance with IFRS. In addition, these measures should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items. These measures have limitations as analytical tools, and you should not consider such measures either in isolation or as substitutes for analyzing the Company’s results as reported under IFRS. The Company’s definitions and calculations of these measures are not necessarily comparable to other similarly titled measures used by other companies. These non-IFRS financial measures are defined and reconciled to the most comparable IFRS measures in the tables at the end of this press release.
Cautionary Note Regarding Forward-Looking Statements
The foregoing financial information as at and for the three and six months ended September 30, 2017 are unaudited and subject to quarter-end and year-end adjustments in connection with the completion of our customary financial closing procedures. Such changes could be material.
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including our growth plans and anticipated financial performance for fiscal 2018, which are referred to under the heading Revised Fiscal 2018 Outlook. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, our expectations regarding industry trends, our business plan and growth strategies, our expectations regarding seasonal trends, our ability to implement our growth strategies, our ability to keep pace with changing consumer preferences, our ability to maintain the strength of our brand and protect our intellectual property, as well as the risks identified under the heading “Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended March 31, 2017, and filed with the Securities and Exchange Commission (“SEC”), and the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada (“Canadian securities regulatory authorities”), as well as the other information we file with the SEC and Canadian securities regulatory authorities. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. You are encouraged to read our filings with the SEC, available at www.sec.gov, and our filings with Canadian securities regulatory authorities available at www.sedar.com for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Condensed Consolidated Interim Statements of Income and Comprehensive Income
(unaudited)
(in thousands of Canadian dollars, except per share amounts)
Three months ended
September 30 Six months ended
September 30
2017 2016 2017 2016
Revenue 172,330 127,935 200,535 143,630
Cost of sales 85,237 68,601 100,200 79,637
Gross profit 87,093 59,334 100,335 63,993
Gross margin 50.5 % 46.4 % 50.0 % 44.6 %
Selling, general and administrative expenses 36,545 30,172 62,377 48,265
SG&A expenses as % of revenue 21.2 % 23.6 % 31.1 % 33.6 %
Depreciation and amortization 2,314 1,490 4,482 2,936
Operating income 48,234 27,672 33,476 12,792
Operating income as % revenue 28.0 % 21.6 % 16.7 % 8.9 %
Net interest and other finance costs 3,599 2,438 6,691 5,533
Income before income taxes 44,635 25,234 26,785 7,259
Income tax expense 7,508 5,216 1,747 1,277
Effective tax rate 16.8 % 20.7 % 6.5 % 17.6 %
Net income 37,127 20,018 25,038 5,982
Other comprehensive income (loss) 1,259 (415 ) 1,301 (407 )
Total comprehensive income 38,386 19,603 26,339 5,575
Earnings per share
Basic $ 0.35 $ 0.20 $ 0.23 $ 0.06
Diluted 0.33 0.20 0.23 0.06
Weighted average number of shares outstanding
Basic 106,992,382 100,000,000 106,747,784 100,000,000
Diluted 111,478,881 101,704,270 110,700,260 101,702,032
Other data: (1)
EBITDA 51,181 29,705 39,486 16,724
Adjusted EBITDA 46,399 33,790 32,833 26,308
Adjusted EBITDA margin 26.9 % 26.4 % 16.4 % 18.3 %
Adjusted net income 32,877 23,740 19,647 14,248
Adjusted net income per diluted share $ 0.29 $ 0.23 $ 0.18 $ 0.14
(1) EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income and adjusted net income per share and per diluted share are non-IFRS financial measures. See — “Note Regarding Non-IFRS Financial Measures” for a description of these measures and a reconciliation to the nearest IFRS measure
Condensed Consolidated Interim Statements of Financial Position
(unaudited)
As at September 30, 2017 and March 31, 2017
(in thousands of Canadian dollars)
September 30 March 31
2017 2017
Assets $ $
Current assets
Cash 13,314 9,678
Trade receivables 99,587 8,710
Inventories 154,464 125,464
Income taxes receivable 3,809 4,215
Other current assets 12,144 15,156
Total current assets 283,318 163,223
Deferred income taxes 10,217 3,998
Property, plant and equipment 46,096 36,467
Intangible assets 134,656 131,912
Goodwill 45,269 45,269
Total assets 519,556 380,869
Liabilities
Current liabilities
Accounts payable and accrued liabilities 63,810 58,223
Provisions 6,914 6,046
Total current liabilities 70,724 64,269
Provisions 10,225 9,526
Deferred income taxes 13,439 10,888
Revolving facility 116,775 6,642
Term loan 131,285 139,447
Other long-term liabilities 3,673 3,929
Total liabilities 346,121 234,701
Shareholders' equity 173,435 146,168
Total liabilities and shareholders' equity 519,556 380,869
Condensed Consolidated Interim Statements of Cash Flows
(unaudited)
For the six months ended September 30
(in thousands of Canadian dollars)
2017 2016
$ $
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income 25,038 5,982
Items not affecting cash
Depreciation and amortization 6,010 3,932
Income tax expense 1,747 1,277
Interest expense 6,574 4,486
Unrealized (gain) loss on forward contracts (442 ) 120
Unrealized foreign exchange gain (9,304 ) —
Write off of deferred financing charges on refinancing revolving facility — 946
Share-based compensation 721 1,499
30,344 18,242
Changes in non-cash operating items (112,681 ) (76,856 )
Income taxes paid (5,411 ) (12,353 )
Interest paid (5,214 ) (1,444 )
Net cash used in operating activities (92,962 ) (72,411 )
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment (9,175 ) (11,000 )
Investment in intangible assets (3,473 ) (3,971 )
Business combination (560 ) (500 )
Net cash used in investing activities (13,208 ) (15,471 )
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on revolving facility 110,036 146,790
Repayment of credit facility — (55,203 )
Deferred financing fees on term loan syndication (437 ) —
Exercise of stock options 207 —
Net cash from financing activities 109,806 91,587
Increase in cash 3,636 3,705
Cash, beginning of period 9,678 7,226
Cash, end of period 13,314 10,931
Reconciliation of Non-IFRS Measures
The tables below reconciles net income to EBITDA, adjusted EBITDA, and adjusted net income for the periods presented:
CAD $000s
(unaudited)
Three months ended
September 30 Six months ended
September 30
2017 2016 2017 2016
Net income 37,127 20,018 25,038 5,982
Add the impact of:
Income tax expense 7,508 5,216 1,747 1,277
Net interest and other finance costs 3,599 2,438 6,691 5,533
Depreciation and amortization 2,947 2,033 6,010 3,932
EBITDA 51,181 29,705 39,486 16,724
Add (deduct) the impact of:
Bain Capital management fees (a) — 63 — 212
Transaction costs (b) 218 1,910 1,546 2,734
Unrealized gain on derivatives (c) — — — 4,422
Unrealized foreign exchange gain on Term Loan Facility (d) (5,814 ) — (9,580 ) —
International restructuring costs (e) — 80 — 175
Share-based compensation (f) 310 1,374 390 1,499
Agent terminations and other (g) — — — (116 )
Non-cash rent expense (h) 504 658 991 658
Adjusted EBITDA 46,399 33,790 32,833 26,308
CAD $000s
(unaudited)
Three months ended
September 30 Six months ended
September 30
2017 2016 2017 2016
Net income 37,127 20,018 25,038 5,982
Add (deduct) the impact of:
Bain Capital management fees (a) — 63 — 212
Transaction costs (b) 218 1,910 1,546 2,734
Unrealized gain on derivatives (c) — — — 4,422
Unrealized foreign exchange gain on Term Loan Facility (d) (5,814 ) — (9,580 ) —
International restructuring costs (e) — 80 — 175
Share-based compensation (f) 310 1,374 390 1,499
Agent terminations and other (g) — — — (116 )
Non-cash rent expense (h) 504 658 991 658
Amortization on intangible assets acquired by Bain Capital (i) 544 544 1,088 1,088
Total adjustments (4,238 ) 4,629 (5,565 ) 10,672
Tax effect of adjustments (12 ) (907 ) 174 (2,406 )
Adjusted net income 32,877 23,740 19,647 14,248
(a) In connection with Bain’s purchase of a 70% equity interest in our business on December 9, 2013 (the “Acquisition”), we entered into a management agreement with certain affiliates of Bain Capital for a term of five years (“Management Agreement”). This amount represents payments made pursuant to the Management Agreement for ongoing consulting and other services. In connection with the IPO on March 21, 2017, the Management Agreement was terminated in consideration for a termination fee of $9.6 million and Bain Capital no longer receives management fees from the Company.
(b) In connection with the IPO in March 2017 and Secondary Offering in June 2017, we incurred expenses related to professional fees, consulting, legal, and accounting that would otherwise not have been incurred. These fees are reflected in the first quarter of fiscal 2017 and fiscal 2018, respectively, and are not indicative of our ongoing costs.
(c) Represents non-cash unrealized gains on foreign exchange forward contracts recorded in fiscal 2016 that relate to fiscal 2017. We manage our exposure to foreign currency risk by entering into foreign exchange forward contracts. Management forecasts its net cash flows in foreign currency using expected revenue from orders it receives for future periods. The unrealized gains and losses on these contracts are recognized in net income from the date of inception of the contract, while the cash flows to which the derivatives related are not realized until the contract settles. Management believes that reflecting these adjustments in the period in which the net cash flows occur is more appropriate.
(d) Represents non-cash unrealized gains on the translation of the Term Loan Facility from USD to CAD.
(e) Represents expenses incurred to establish our international headquarters in Zug, Switzerland, including closing several smaller offices across Europe, relocating personnel, and incurring temporary office costs.
(f) Represents non-cash share-based compensation expense on stock options issued prior to the IPO. Adjustments reflect management’s estimate that certain tranches of outstanding option awards will vest.
(g) Represents accrued expenses related to termination payments to be made to our third-party sales agents. As part of a strategy to transition certain sales functions in-house, we terminated the majority of our third party sales agents and certain distributors, primarily during fiscal 2015 and 2016, which resulted in indemnities and other termination payments. As sales agents have now largely been eliminated from the sales structure, management does not expect these charges to recur in future fiscal periods.
(h) Represents non-cash lease amortization charges during pre-opening periods for new store leases.
(i) As a result of the Acquisition we recognized an intangible asset for customer lists in the amount of $8.7 million, which has a useful life of four years, and will expire in the third quarter of fiscal 2018.
Pro forma income per share and adjusted net income per share
(unaudited)
CAD $000s
(except per share data)
Three months
ended
September 30
Six months
ended
September 30
2016 2016
Pro forma income per share
Net income $ 20,018 $ 5,982
Weighted average number of common shares 100,000,000 100,000,000
Pro forma for IPO as at April 1, 2016 6,308,154 6,308,154
Pro forma weighted average number of common shares outstanding over the year 106,308,154 106,308,154
Pro forma income per share $ 0.19 $ 0.06
Pro forma adjusted net income per share
Adjusted net income $ 23,740 $ 14,248
Pro forma weighted average number of shares 106,308,154 106,308,154
Pro forma adjusted net income per share $ 0.22 $ 0.13
View source version on businesswire.com: http://www.businesswire.com/news/home/20171109005406/en/
Source: Canada Goose Holdings Inc.
ICR, Inc.
Investors:
Allison Malkin/Caitlin Morahan
203-682-8200
Allison.Malkin@ICRinc.com / Caitlin.Morahan@ICRinc.com
or
Media:
Julia Young
646-277-1280
Julia.Young@ICRinc.com
$GOOS$
Why Canada Goose Holdings (GOOS) Might Surprise This Earnings Season
By Zacks Equity Research, Zacks.com
November 8, 2017 | 08:38AM
Earnings
Photo: Shutterstock
Investors are always looking for stocks that are poised to beat at earnings season and Canada Goose Holdings Inc.GOOS may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Canada Goose Holdings is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings - with the most up-to-date information possible - is a pretty good indicator of some favorable trends underneath the surface for GOOS in this report.
Analysts have very recently bumped up their estimates for GOOS, giving the stock a Zacks Earnings ESP of +16.33% heading into earnings season.
Canada Goose Holdings Inc. Price and EPS Surprise
Canada Goose Holdings Inc. Price and EPS Surprise | Canada Goose Holdings Inc. Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here ).
Given that GOOS has a Zacks Rank #3 (Hold) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Clearly, recent earnings estimate revisions suggest that good things are ahead for Canada Goose Holdings, and that a beat might be in the cards for the upcoming report.
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$GOOS$
GOOS! Hit $27+ in early trading today... I will take even today and a nice Green day tomorrow IMO.
Getting closer to $30 holla peeps!!
GOOS one of the TOP 25 TSX stocks to own 2017/18 and expecting pps to be $30++ by years end.
With some of the finest investors on Ihub like Jcanada and myself we are on a fine board here with 100% positivity in postings.
Glta
$GOOS$
GOOSE BABY!!!! It doesn't get much easier making serious money owning this TSX GEM!!! Last 4 weeks this monster has been on a RAMPAGE giving at least 3 trading days of the week a very GREEN closing pps.
GOOS finished the week up +.57/+2.2% to end the week with a pps of $26.38!!
GOOS is one of the Top 25 TSX stocks to own IMO for rest of 2017/2018
GOOS board is top 40 boards to be on with over 25 THOUSAND boards on ihub with a current posting positivity rate of 100%!!!
Expecting pps of $30++ by years end IMO
Everyone is just happy to wake up each day with GOOS at the opening bell.
Glta and happy long weekend Canada!!
$GOOS$
Lol!!!!! 30$ make me holla!
Ok this is getting a bit old... NOT!!!!
GOOS up +.58/+2.3% to close at $26.23!!! What this is gonna be green AGAIN tomorrow!!! .. Haha let's see... Enjoying this once in a lifetime GEM to own.
TOP 25 TSX stocks to own 2017/18
TOP 3O Ihub boards to be on for 2017.
100% positivity in posts, no whiners, just people that enjoy making money at least 3 days of the five day trading week.
Glta
$Goos$
GOOS on a RAMPAGE!! 2nd time in two days it touched $26+ .... Anyways GOOS closed the week up +.44/+1.8% with a pps at $25.65!!!
Great week everyone!
GOOSE one of the TOP 25 TSX stocks to own IMO in 2017/2018!!
Lots more to come in the coming months and I expect by years end $30++
Glta
$GOOS$
GOOSE!!!! WHAT A BEAST!!!!
Finishing the day +.69/+2.8% to a Beauty pps of $25.33!!!!
Lots more to come in the coming weeks!... IMO one of the best companies known around the world to own 2017 and beyond!
Expecting $30++ by years end!
Glta
$GOOS$
GOOSE is currently up +.41/+1.66% at $25.05!!!
Looking like a strong power ahead 2day!!!
$25 bolla baby!!
Glta
$GOOS$
Agreed Joecanada13!! Back on track and back over $25+ pps by end of week.
Gl
$GOOS$
Ty, you as well, gotta love GOOS zero worries here.
Congrats to you and enjoy the ride Northbound to a very strong and world known brand... Opening 3 flagship locations this coming fall I believe!
Gl
$GOOS$
Another amazing day for GOOS... We finished +4.3% +$1.04 to close at $24.95!!!.... Even better than yesterday .
Expecting many more green days ahead and pps $30+ by years end IMO
Glta
$GOOS$
Lots more to come here, currently my single largest holding.
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