Canada Goose Holdings Inc. beat expectations as it reported a second-quarter profit of $49.9 million and raised its outlook for growth for the year.
The luxury parka maker says the profit amounted to 45 cents per diluted share for quarter ended Sept. 30 compared with a profit of $37.1 million or 33 cents per diluted share a year ago.
Revenue in what was the company’s second quarter totalled $230.3 million, up from $172.3 million in the same quarter last year.
On an adjusted basis, Canada Goose says it earned 46 cents per diluted share in the quarter, up from an adjusted profit of 29 cents per diluted share a year ago. Analysts had expected a profit of 26 cents per share for the quarter, according to Thomson Reuters Eikon.
In its outlook, Canada Goose says it now expects annual revenue growth of at least 30 per cent compared with its earlier forecast for at least 20 per cent.
The company also expects annual growth in its adjusted net income per diluted share to be at least 40 per cent compared with its earlier guidance of at least 25 per cent.