Company News

Luxury coat maker Canada Goose posts smaller-than-expected first-quarter loss

TORONTO, Aug 9 (Reuters) - Luxury parka maker Canada Goose reported a smaller-than-expected first-quarter loss on Thursday, amid growing revenue from its direct-to-consumer business.

The Toronto-based company reported a net loss of C$18.7 million in the quarter ended June 30, narrower than analyst expectations for a loss of C$22.3 million. It posted a loss of C$12.1 million, a year earlier.

Revenue from its direct-to-consumer division, which includes its own stores and online sales, rose to C$23.2 million from C$8.3 million a year earlier, while wholesale revenue increased decreased to C$21.5 million from C$19.9 million. (Reporting By Nichola Saminather; Editing by Bernadette Baum)