Canada Goose beats revenue estimates on luxury demand rebound

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The company’s global e-commerce revenue jumped 80.8%, as it benefited from investments to build out its online business.

Toronto, Ontario-based Canada Goose said net loss widened to C$56.7 million ($45.22 million), from C$50.1 million a year earlier.

The company, best known for its pricey red parkas, said first-quarter revenue rose to C$56.3 million ($44.90 million), from C$26.1 million a year earlier.

Analysts on average had expected C$49.7 million, according to IBES data from Refinitiv.

($1 = 1.2538 Canadian dollars)