Luxury apparel maker Canada Goose tops Street, shares rise

Reuters




* Q1 direct-to-consumer sales surge more than sixfold
    * To open stores in Boston, Calgary, Tokyo
    * Toronto-listed shares rise 5.3 pct; U.S. stock jumps 9 pct

 (Adds CEO comment; updates share move)
    By Ahmed FarhathaAug 10 (Reuters) - Canada Goose Holdings Inc <GOOS.TO>,
<GOOS.N> reported a smaller-than-expected quarterly loss as the
luxury apparel retailer sold more products across its sales
platforms, sending its shares up 5.3 percent on the Toronto
Stock Exchange.
    After a red hot debut in March, Canada Goose has been
opening stores internationally and increasing its presence on
e-commerce sites to meet a growing demand for its jackets and
parkas.
    "Many retailers are specifically asking us to accelerate
shipments so they can get our product on the floor earlier,"
Chief Executive Dani Reiss said on a post-earnings call on
Thursday.
    The company's direct-to-consumer sales, which includes sales
from its flagship stores and online platforms, surged more than
sixfold to C$8.3 million ($6.5 million), while revenue from its
wholesale unit increased 38.2 percent to C$19.9 million in the
first quarter ended June 30.
    Separately, Canada Goose said it would open flagship stores
in Boston, Calgary and Tokyo, and is on track to open stores in
London and Chicago as planned, later this year. [nBwc7XS3na]
    Sticking to its "Made in Canada" pledge, the company opened
its fifth factory in Ontario in June and also said it expanded
its Quebec manufacturing facility in the reported quarter.
    The luxury retailer specializes in making winter apparels
such as scarves, mitts, hats, gloves, snow pants, which are sold
in more than 30 countries.
    Canada Goose's comprehensive loss narrowed to C$12 million,
or 11 Canadian cents per share, from C$14 million, or 14
Canadian cents per share, a year earlier. [nBw6GVpMfa]
    Excluding one-off...

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