Canada Goose Holdings (NYSE:GOOS)(TSE:GOOS) stock is down today despite the clothing retail company reporting estimate-beating Q1-2024 earnings results. Adjusted earnings per share came in at -C$0.70, which beat analysts’ consensus estimate of -C$0.85 per share. Nonetheless, this is worse than last year’s EPS of -C$0.56. Meanwhile, sales increased by 21% year-over-year, with revenue hitting C$84.8 million, beating the consensus of C$73.7 million by a wide margin.
Further, comparable Direct-to-Consumer (DTC) sales grew by an impressive 28% year-over-year, while DTC revenue itself grew by 54% or 60% on a constant-currency basis, according to the company.
Looking forward, management provided guidance for fiscal Q2 and reiterated its outlook for Fiscal Year 2024. For Q2, revenue is forecast to fall between C$270 million and C$290 million, with negative earnings per share ranging between -C$0.24 and -C$0.17. For Fiscal 2024, GOOS expects revenue and earnings per share to be in the ranges of C$1.4 billion to C$1.5 billion and C$1.20 to C$1.48, respectively.
Is GOOS Stock a Buy, According to Analysts?
According to analysts, GOOS stock comes in as a Hold based on three Holds and one Sell rating assigned in the past three months. The average GOOS stock price target of C$24.40 implies 12% upside potential, nonetheless.
