All might not be well for tech stocks and the broader market Thursday, but that doesn't mean there aren't some winners on the day. Canada Goose (GOOS) stock is up 11.5% to $24.25 after reporting earnings.
"They came out with great numbers and this isn't even their [strong] season," an excited Jim Cramer said on CNBC's "Stop Trading" segment. It's like this company was built for the internet, he added.
What exactly does Cramer mean? Canada Goose has been busy building its direct-to-consumer model and so far, the results are great.
Given the massive shakeup in the retail industry, companies need to adapt faster than ever. Nike (NKE) has been one of the more notable companies to adopt the direct-to-consumer model. While that's not the only reason, it's certainly one catalyst as to why the stock is up 9.9% on the year vs. a competitor like Under Armour (UA) (UAA) which is down more than 55%.
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Also like Nike, Canada Goose is finding traction and growth in China. Momentum for Canada Goose, the outerwear apparel maker, has been reignited, reasoned Cramer, who also manages the Action Alerts PLUS charitable trust portfolio.
The company beat on earnings per share and revenue expectations, as year-over-year sales grew nearly 35%. Earnings of 29 cents per share came in 45% ahead of estimates. These results were "unbelievable," he concluded.
The success of Canada Goose just highlights how much some newly public companies like Snap (SNAP) and Blue Apron (APRN) are struggling. Roku (ROKU) , on the other hand, is up more than 45% after its strong earnings results Thursday.
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