Canada Goose stock up nearly 30%; no guidance from parka maker as Trump's tariffs create 'uncertain times'
Toronto-based Canada Goose declined to issue financial guidance for its current fiscal year as it reported results on Wednesday, citing 'macroeconomic uncertainty and dynamic consumer spending patterns brought on by the unpredictable global trade environment.'
'The decision not to provide an outlook for the year is entirely around what we see as a fairly uncertain consumer environment around the world,' Reiss told analysts on a post-earnings conference call on Wednesday. 'These are uncertain times.'
Reiss says the current tariff landscape is 'not material' to the company's 2026 plans directly.
'Approximately 75 per cent of our units are made in Canada, virtually all complying with USMCA (United States–Mexico–Canada Agreement), which means they are currently exempt from tariffs,' chief operating officer Beth Clymer added on the call.
'Our remaining production, which is primarily from Europe, is facing increasing tariffs. But they will have minimal financial impact.'
Toronto-listed Canada Goose shares rose as much as 28.3 per cent on Wednesday. The stock was up 26.41 per cent at $15.70 per share as at 10:58 a.m. ET.
For the three months ended March 30, Canada Goose reported $27.1 million in net income attributable to shareholders, up from $5 million in the fourth quarter of 2024. Sales increased 7.4 per cent year-over-year, while adjusted earnings before interest, taxes, depreciation, and amortization rose 48.9 per cent on an annual basis.
Despite the strong results, Canada Goose now joins the list of Canadian firms lowering or eliminating financial guidance as U.S. President Donald Trump attempts to overhaul America's trade links with the rest of the world. So far this earnings season, Air Canada (AC.TO), Rogers Communications (RCI-B.TO), A&W Food Services of Canada (AW.TO) have been among companies issuing weaker guidance for 2025.
BMO chief investment strategist Brian Belski recently advised investors to look past these revisions.
"We believe investors should not be reactionary to negative guidance," he wrote in a report to clients.
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.
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