LONDON, United Kingdom — Luxury apparel maker Canada Goose Holdings Inc reported a surprise quarterly profit on Friday, driven by strong retail and online sales.
The company's U.S. listed shares rose 10.7 pct to $52.99 before the bell.
The company said it expects revenue to grow at a rate of at least 20 percent for the next three years and adjusted net income per share growth of at least 25 percent.
Canada Goose, known for its $900 parkas, has been trying to boost margins by expanding its direct-to-consumer business, manufacturing more of its coats itself and launching new product lines including knitwear.
The company reported a net income of C$8.1 million ($6.16 million), or 7 Canadian cents per share, in the three months ended Mar. 31, compared to a loss of C$23.4 million, or 23 Canadian cents per share, a year earlier.
Excluding items, the company earned 9 cents per share.
Revenue more than doubled to C$124.8 million.
Analysts on average were expecting the company to report a loss of 8 cents per share and revenue of C$74.6 million, according to Thomson Reuters I/B/E/S.
By Parikshit Mishra; editor: Shounak Dasgupta.