Canada Goose Is a Sneaky Good Summertime Buy
With summer fast approaching, you probably don't want to have to think about having to buy a winter coat. But it could be the perfect time to buy shares of Canada Goose Holdings (NYSE: GOOS).
Shares of the once-hot IPO have hit a wall in 2022, falling over 60% from their 52-week high and nearly 50% year to date. This week's marketwide sell-off caused Canada Goose stock to fall 10% on Wednesday alone. But the selling appears to be overdone. Don't look now, but the once-expensive, high-flying stock looks downright cheap and seems to be turning a corner after the company expressed confidence in the year ahead.
On its May 19th earnings call, Canada Goose reported record revenue that surpassed the $1 billion mark for the first time. The company closes the year "with record sales for the year and confidence in our ability to accelerate earnings growth in fiscal 2023 and beyond." The company now projects it will achieve revenue of $1.3 billion to $1.4 billion, which would be a nice increase from 2022's record results.
Source Fool.com
