December 6, 2021

Wire Service Canada

Complete Canadian News World

With China as the locomotive, it raises the outlook for 2022

Hope at home Canada Duck: Earnings in the second quarter of 2022 were $ 232.9 million, up from the previous 194.8 million, the management raises the bar in the fiscal year. Forecasts were sales between $ 1.125 and $ 1.175 billion, compared to the estimated $ 1 billion last May, with adjusted non-IFRS net revenues of 186 and 208 million (with a margin between 16.5% and 17%). Between $ 1.17 and $ 1.33 per share. Estimates based on the structure of naturally occurring stability in both macroeconomic and health conditions.

The quarter featured a 33.8% improvement in e-commerce, while direct consumer (DTC) sales in China increased by 85.9%.

Overall, the dtc business nearly doubled from $ 46.2 million to $ 83.2 million. Total channel sales increased from $ 118.5 million to $ 147.9 million.

However, there was a reduction in the total range from dtc to 76.8% to 73.7%, which was somewhat linked to an increase in sales in the less profitable categories outside the main business of the parks. On the other hand, the total sales volume increased (from 47.6% to 49.4%). Net income also fell to $ 10.4 to $ 9 million.

“We are satisfied with the performance of all channels – Chairman and CEO Danny Reyes comments – With these foundations, this year promises to be positive, thanks to our core position in the lifestyle industry and the flexibility of our supply chain.

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