TORONTO – Canada Goose Holdings Inc. says its most recent quarter delivered an $85 million net loss as it opened a handful of new international stores.
The Toronto-based luxury apparel company says the first quarter’s net loss compared with a net loss of $63.6 million a year earlier.
Its net loss for the period ended July 2 amounted to 78 cents per basic and diluted share compared with 59 cents a year prior.
Analysts on average had expected a loss of 88 cents per share, according to estimates compiled by financial markets data firm Refinitiv.
Canada Goose’s adjusted net loss totalled $73.4 million compared with a net loss of $59.7 million a year earlier.
Its revenue climbed to $84.8 million from $69.9 million in the second quarter of its prior fiscal year.
The quarter came as Canada Goose opened new stores in Dublin, Las Vegas and Washington and relocated its Beijing flagship property.
This report by The Canadian Press was first published Aug. 3, 2023.
Companies in this story: (TSX:GOOS)
