Canada Goose Q3 Revenue Beats Estimates, but Margins Decline

Canada Goose shares fell 22% despite Q3 revenue beating estimates by 48.5% YoY to $694.5mln, driven by strong direct-to-consumer sales growth of 14.1%. However, the company's adjusted EBIT margin fell to 29.3% from 33.8% YoY, due to a one-time bad-debt provision, retail network expansion costs, and higher marketing investments.