Canada Goose Holdings Inc. says it will open a new factory in Quebec, its second in the province.
The production facility will be located in Montreal and is expected to employ more than 100 people by the end of March, and grow to 650 new positions at full capacity by the end of 2020.
READ MORE: People in Chicago are being robbed at gunpoint for Canada Goose jackets as temperatures plunge
The announcement came as the luxury parka maker reported a profit of $103.4 million or 93 cents per diluted share for the quarter ended Dec. 31, up from a profit of $63 million or 56 cents per diluted share in the same quarter a year earlier.
WATCH BELOW: People are being robbed of their Canada Goose jackets in Chicago
Revenue in what was the company’s third quarter totalled $399.3 million, up from $265.9 million.
READ MORE: Canada Goose jackets banned by U.K. school for being too expensive
Get weekly money news
Analysts on average had expected a profit of 81 cents per share for the quarter, according to Thomson Reuters Eikon.
WATCH BELOW: Canada Goose’s stock plummets amidst Canada-China dispute
Canada Goose also raised its guidance for revenue and profit for its 2019 financial year.
It now expects revenue growth in the mid-to-high 30s on a percentage basis, compared with earlier expectations for at least 30 per cent.
READ MORE: Canada Goose delays China flagship store opening, citing ‘construction’ issues amid Huawei spat
Annual growth in adjusted net income per diluted share is also now expected to grow in the mid-to-high 40s on a percentage basis, compared with earlier expectations for at least 40 per cent.
WATCH BELOW: Canada Goose jackets banned from British school in ‘poverty-proofing’ effort
Comments