(Reuters) -Canada Goose Holdings Inc beat quarterly revenue expectations on Wednesday, buoyed by a recovery in demand for its luxury parkas as growing vaccination rates encouraged the reopening of major economies.
The company’s global e-commerce revenue jumped 80.8%, as it benefited from investments to build out its online business.
Toronto, Ontario-based Canada Goose said net loss widened to C$56.7 million ($45.22 million), from C$50.1 million a year earlier.
The company, best known for its pricey red parkas, said first-quarter revenue rose to C$56.3 million ($44.90 million), from C$26.1 million a year earlier.
Analysts on average had expected C$49.7 million, according to IBES data from Refinitiv.
($1 = 1.2538 Canadian dollars)
(Reporting by Aditi Sebastian and Uday Sampath Kumar in Bengaluru; Editing by Sriraj Kalluvila)
