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Margins improve at Canada Goose
Jun. 3, 2020 7:06 AM ET|About: Canada Goose Holdings Inc. (GOOS)|By: Clark Schultz, SA News Editor
Canada Goose (NYSE:GOOS) reports adjusted EBIT of -C$9.7M for FQ4 vs. C$13.0M a year ago and -C$10.3M consensus.

Gross margin was 66.4% of sales during the quarter vs. 65.6% a year ago and 64.0% consensus.

The company's cash-on-hand as of June 1 on a pro forma basis was C$119.7M and undrawn revolving credit facility capacity was C$239.4M. The company remains confident that its cash flow profile and liquidity will be sufficient to address a varied range of COVID-19 scenarios that may occur through FY21. Canada Goose says the negative financial impacts of COVID-19 will be be more pronounced in FQ1, with a negligible level of revenue expected. The quarter is historically the smallest of the fiscal year for GOOS, representing 7.4% of annual sales last year.

Shares of Canada Goose are up 0.05% premarket to $21.60.

Previously: Canada Goose Holdings EPS in-line, beats on revenue (June 3)