Canada Goose Sells More Winter Coats in North America and China, and Stock Jumps

Core Insights - Canada Goose Holdings experienced a significant increase in share price following the release of better-than-expected fiscal 2024 fourth-quarter results, driven by a rebound in demand in North America and strong growth in China [1][3] Financial Performance - The company reported adjusted earnings per share (EPS) of 19 Canadian cents ( $0.14) for the fourth quarter, with revenue rising 22.1% to C$ 358.0 million, surpassing forecasts [1] - North American sales surged 24.5% to C $152.8 million, recovering from a 13.6% decline in the previous quarter, while Greater China sales increased by 29.7% to C$ 128.4 million [2] - Gross profit rose 22% to C $233.0 million, with a gross margin of 65.1%, up from 64.9% a year ago [2] Operational Efficiency - The CEO, Dani Reiss, indicated that the company's performance exceeded guidance despite challenging market conditions [2] - Layoffs during the year contributed approximately C$ 20 million in productivity improvements and cost savings, with a 10% reduction in corporate workforce in August 2023 and an additional 17% cut in March [2]