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Summary
- Canada Goose stocks lead trends after positive Q1 earnings report.
- A significant boost in e-commerce business in Asian markets helps improve performance.
- Its 2021 Q1 revenue rose nearly five percent to $474 million.
Consumer durables company Canada Goose Holdings Inc. on Thursday reported a net profit of C$107 million in the first quarter of 2021, advanced by a phenomenal growth in the e-commerce segment.
Goose stocks really took off on Thursday morning on the back of its earnings report. At 10:38 AM ET, the stock was trading at C$58.13, up almost 30 per cent.
The company reported a revenue growth of C$474 million, or nearly 5 per cent year-over-year (YoY). It is a significant performance considering 25 per cent of its retail chain business were closed due to the pandemic in 2020. Seven out of 28 Canada Goose retail stores were closed.
However, its online segment saw a considerable growth during the period. The company’s global e-commerce revenue rose 39.3 per cent, mainly contributed by increased sales in the Chinese market. Its direct sales to Chinese customers increased by 42 per cent.
The company has a market cap of $2.6 billion. The stocks were priced at C$ 44.74 at the previous close on Wednesday. Its stock value rose by around five per cent in the last five days.
@Kalkine Image 2021
Goose Stocks Trend
Consistent performance and positive company earnings have made these stocks attractive for investors. They have seen high price movements as well as volume.
In the last one month, its scrips saw a value addition of nearly 18 per cent, and in the six-month period, it rose by more than 45 per cent. Its one-year growth was over 9 per cent.
Goose stocks saw high trade volumes in the past few weeks. Its 10-day average was 451,766 and a 50-day average was 406,484.
Return on equity was 18.31 percent. P/B, P/CF, and D/E ratios were 10.09, 30.80, and 1.33, respectively. It returns on assets was 6.38 percent.
Founded in 1957, this Toronto-based company is one of the leaders in lifestyle brands. It is a leading manufacturer of luxury apparel and accessories. Its stores are in Canada, the US, as well as in various capitals in Asia, and Europe.
