Canada Goose shares up after better-than-expects results, plans three new stores

Shares of Canada Goose Holdings Inc. soared more than30 per cent on Fridayafter it reported stronger-than-expected earnings and announced plans for three new stores in North America.

Canada Goose shares closedup $18.02to$78.01on the Toronto Stock Exchange.

The increase came as the luxury parka maker reported a fourth-quarter profit of $8.1 million or seven cents per diluted share compared with a loss of $23.4 million or 23 cents per diluted share a year ago.

Revenue for the quarter ended March 31 totalled $124.8 million, up from $51.1 million in the same quarter a year earlier.

On an adjusted basis, Canada Goose said it earned $9.9 million or nine cents per diluted share.

Economists on average had expected a loss of eight cents per share for the quarter, according to Thomson Reuters Eikon.