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Summary
The GOOS is Loose – Canada Goose Earnings Play
Canada Goose (GOOS) earnings topped expectations early Thursday morning. The maker of luxury winter wear and outdoor gear reported sales and earnings that exceeded expectations. The fact that this happend in the summer is amazing.
The stock is trading above 60.83 in pre-market trading.
Canada Goose Earnings
- Revenue was seen rising 19% to $25 million.
- Canada Goose lost 12 cents a share adjusted in a typically weak summer quarter.
- The company reiterated guidance, including at least 20% revenue growth and adjusted EPS growth of 25% or more.
- Source Investors Business Daily
Canada Goose GOOS Technicals
Price action faded from the June reporting period, where the company beat expectations by 164%. The Wednesday close was near the 50d. Pre-market the stock is trading near 60.00 (+/-).
With retail showing realtive strength, we would watch for a fade this morning as traders take profits. Should the stock hold the gap, look for a ToD Setup for entry, exit and stops.
Monitor retail stocks today as well. XRT has been fairly strong lately, with retailers reporting better than expected earnings and sales. More than 85% of S&P500 stocks have reported to date, most with a beat in sales and earnings. The majority have provided bullish guidance.
Join us to discuss GOOS and other IBD50 stocks during market hours. Watch listen and learn how to trade using a strategy based approach.
Happy Trading,
Vinny
https://theclosingprint.com/CV_Blog/marketsmith-performance-90-day-review/
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