- Shares of Canada Goose have dipped by more than 15% after the company released fiscal Q1 results for the quarter ending in June.
- The company beat Wall Street's expectations on the top and bottom lines, with a continued shift into direct channels boding well for the company.
- Canada Goose was still held back by retail closures, with roughly 20% of its sales days cut by lockdown restrictions.
- Investors focused on the losses generated in the quarter and sequential dip in gross margins, even though these are likely more temporary factors.
- Canada Goose initiated a buyback program covering approximately 5% of its market cap in response to the dip.
For further details see:
Canada Goose: Buy The Dip, Because The Company Is