Markets News

Canada Goose beats revenue estimates on online boost

Nov 5 (Reuters) - Canada Goose Holdings Inc beat estimates for quarterly revenue on Thursday, as higher online sales helped the luxury parka maker cushion a hit from its tepid wholesale business.

Revenue fell to C$194.8 million ($148.52 million) in the second quarter ended Sept. 27, from C$294 million a year earlier, but beat the average analyst estimate of C$167.2 million, according to IBES data from Refinitiv.

Toronto, Ontario-based Canada Goose said net income fell to C$10.4 million, or 9 Canadian cents per share, from C$60.6 million, or 55 Canadian cents per share, a year earlier. ($1 = 1.3116 Canadian dollars) (Reporting by Praveen Paramasivam in Bengaluru; Editing by Sriraj Kalluvila)