Should You Buy Canada Goose Stock Today?

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(MENAFN- Baystreet.ca) Should You Buy Canada Goose Stock Today?

Canada Goose (TSX: GOOS) (NYSE: GOOS) is a leading manufacturer of winter clothing. The stock debuted on the Toronto Stock Exchange in March 2017. Canada Goose got off to a good start after launch, but has since been subject to volatility. Its shares climbed 30% in 2021 to the October 19 close. The stock has fallen 2.3% in the past six months. Is it a good time to grab the Canada Goose stock right now?

On November 12, Canada Goose will launch its very first line of footwear. This should further expand its brand beyond the winter jacket. Plus, the timing is right as he hopes to boost his products ahead of the 2022 Winter Olympics in China. Hopefully, political friction will not derail Canada Goose’s trade hopes yet again.

The company released its results for the first quarter of fiscal 2022 on August 11. Its total revenue more than doubled year-over-year to $ 56.3 million. Meanwhile, the growth of e-commerce has propelled DTC’s consumer revenue to $ 29.4 million from $ 10.4 million in the first quarter of fiscal 2021.

There were concerns that political tensions between China and Canada could torpedo the opening of the Canada Goose store in Beijing. Fortunately, the policy failed to cool its strong sales on the Chinese mainland. This is good news for the company.

Canada Goose shares are trading in attractive territory relative to its competitors in the clothing retail industry. In addition, the company enjoys an excellent balance sheet. I’m looking to grab Canada Goose stock ahead of its historically busy season.

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