Canada Goose (GOOS) IPO Opens up 41%

Today's IPO for $1,000 parka maker Canada Goose Holdings Inc. (NYSE: GOOS) opened for trading in New York at $18 after pricing 20,000,000 at a price to the public of $12.78 per share.

CIBC Capital Markets, Credit Suisse, Goldman, Sachs & Co. and RBC Capital Markets are serving as joint book-running managers and as representatives of the underwriters for the proposed offering. BofA Merrill Lynch, Morgan Stanley, Barclays, BMO Capital Markets, TD Securities and Wells Fargo Securities are also acting as joint book-running managers and Baird and Canaccord Genuity are acting as co-managers for the proposed offering.

Founded in a small warehouse in Toronto, Canada 60 years ago, Canada Goose has grown into a global outerwear brand. Canada Goose is a designer, manufacturer, distributor and retailer of premium outerwear for men, women and children. The Company’s jackets are sold in 36 countries around the world, including in two owned retail stores and four e-commerce stores.

In fiscal 2016, the company had revenue of $290.8 million, gross profit of $145.6 million, which represented gross margin of 50.1%, net income of $26.5 million, Adjusted EBITDA of $54.3 million, Adjusted EBITDA Margin of 18.7% and Adjusted Net Income of $30.1 million. They grew revenue at a 38.3% compound annual growth rate (CAGR), net income at a 196.0% CAGR and Adjusted EBITDA at an 85.0% CAGR from fiscal 2014 to fiscal 2016, while expanding gross margin from 38.6% to 50.1% and our Adjusted EBITDA Margin from 10.4% to 18.7% over the same period.

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