Canada Goose jumps 16% after the company reports growth in China

Shares of Canada Goose surged 16% on Thursday after the company reported strong earnings for the fiscal fourth quarter. The company also announced expectations of year-over-year sales growth for fiscal year 2025. Revenue for the quarter increased by 22% compared to the same period last year. The growth was driven by sales in Greater China, the Asia-Pacific region excluding Greater China, and North America. The company’s chief financial officer attributed the growth to domestic shopping in mainland China and Chinese tourists in Hong Kong and Macao. The company is anticipating mid-single-digit revenue growth in the future, primarily driven by the direct-to-consumer business. The company had earlier announced workforce reductions, resulting in productivity improvements and cost savings for the quarter.