Canada Goose Reports Loss Amid Asia Expansion Plans

Toronto-based luxury jacket maker Canada Goose Holdings Inc. says it incurred a net loss of C$18.7 million in its first quarter as it eyed international markets for expansion. The company's loss of 17 cents per share, however, is smaller than analyst expectations of 21 cents per share, and Canada Goose executives attribute the loss to a doubling of expenses as they hire staff for two stores they will open in Beijing and Hong Kong and a regional office coming to Shanghai in the fall. As the locations in China launch, the Canada Goose executives added, they expect marketing expenses to grow, but to remain in proportion with revenues. Revenue in the first quarter hit C$44.7 million, up from the C$28.2 million it recorded the year before.

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