Canada Goose Holdings' Upcoming IPO: What You Need To Know
Jesse Boskoff | Feb 18, 2017 11:05AM ET
Canada Goose Holdings Inc. (NYSE: GOOS) filed an Canada Goose Holdings is a maker of high-end parkas that are made by hand and are filled with down. The company was founded in 1957, and it sells its products in 36 countries through select online retailers; e-commerce sites that are located in Canada, the United Kingdom, the U.S. and France; and through two retail locations in New York and Toronto.
Highlights, risks and use of proceeds
The company reports it had CAD $352,681,000 in total revenues for the nine-month period that ended on Dec. 31, 2016. During the same period in 2015, it reported that it had total revenues of CAD $248,909,000, showing a year-over-year increase of 70 percent. During fiscal 2016, Canadian Goose reports that it had gross revenues of CAD $290.8 million, gross profits of CAD $145,642,000 and a net profit of CAD $26,485,000.
Canada Goose Holdings operates in a highly competitive market . It is focused on premium outerwear, and it indicates that an economic downturn could harm its business. It also reports that it has undergone substantial growth in the past four years, and if it is unable to manage its increased size, it could be harmed. The company reports that it plans to use the proceeds from its IPO to repay its debts and for general corporate purposes.
The lead underwriters for the IPO are CIBC Capital Markets, Credit Suisse (SIX:CSGN), Goldman Sachs (NYSE:GS) & Company and RBC Capital Markets. The other underwriters for the offering include BofA Merrill Lynch, Morgan Stanley (NYSE:MS), Barclays (LON:BARC), BMO, TD, Wells Fargo (NYSE:WFC) Securities, Baird, Canaccord Genuity and Nomura. Canada Goose Holdings is expected to launch its IPO during the first quarter of this year.
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