Canada Goose to open new factory in Montreal

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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.

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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.

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Revenue in what was the company’s third quarter totalled $399.3 million, up from $265.9 million.

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Analysts on average had expected a profit of 81 cents per share for the quarter, according to Thomson Reuters Eikon.

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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.

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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.

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