How Margin Discipline Is Reinforcing the Earnings Case for TRI and GOOS?

Section 1: Introduction

Inflation Report Coverage:

• Inflation report highlights how inflation impacts sectors differently, favoring value and defensive sectors like Energy, Materials, Consumer Staples, Healthcare, Utilities, select Financials, and REITs with inflation-indexed leases, while rate-sensitive sectors like Consumer Discretionary and high-growth Tech typically underperform.
• The report focuses on companies with proven business models, steady financials, high free cash flow, and solid ROE that can pass on costs to customers and protect margins. The aim is to identify stocks that can outperform inflation via capital gains and dividends, supporting diversified sectoral exposure.

Stocks Covered:

• Thomson Reuters Corporation (TSX: TRI) announces powerful new agentic AI solutions across critical business functions, uniquely combining advanced reasoning models, authoritative content, deep domain expertise, and trusted professional tools to help customers automate complex tasks, reduce manual effort, and focus on higher-value work.
• Canada Goose Holdings Inc. (TSX: GOOS) reported decent second quarter results driven by solid DTC performance and positive comparable sales growth, demonstrating the success of its strategy as the company continues investing in its products, brand, and consumer experience while entering peak season from a position of confidence.

Section 2: Company Overview

Thomson Reuters Corporation (TSX: TRI) is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network.

Kalkine’s Inflation Report covers the Investment Highlights, Key Financial Metrics, Risks, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock. 

Section3:  Financial Highlights

Section 4:  Key Metrics

Below chart depicts the change in Revenue, EBITDA Margin, Net Income and ROE based on Q3 2024 and Q3 2025.

Section 5:  Stock Recommendation Summary

Valuation Methodology: EV to Sales Multiple Based Relative Valuation (Illustrative):

The stock has witnessed a downside of ~3.24% and ~4.79% over the last 1 week and 1 month respectively. Moreover, it is trading below the average 52-week high price of CAD 299.24 and 52-week low price of CAD 172.72, providing an opportunity to accumulate the stock

Section 2: Company Overview

Canada Goose Holdings Inc. (TSX: GOOS) is dedicated to empowering discovery and pushing boundaries in design, functionality, and style. Inspired by our Canadian heritage, we craft high-performance outerwear, apparel, footwear, and accessories that elevate craftsmanship and embrace individuality. Rooted in resilience and driven by a pioneering spirit, we embolden explorers to thrive in all environments while preserving the planet they roam.

Kalkine’s Inflation Report covers the Investment Highlights, Key Financial Metrics, Risks, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock. 

Section3:  Financial Highlights

Section 4:  Key Metrics

Below chart depicts the changes in Revenue, Gross profit, Cash and Inventories are based on Q2 2025 and Q2 2026.

Section 5:  Stock Recommendation Summary

Valuation Methodology: EV to Sales Multiple Based Relative Valuation (Illustrative):

The stock has witnessed a downside of ~1.54% and an upside of ~3.92% over the last 1 week and 1 month respectively. Moreover, it is trading above the average 52-week high price of CAD 21.28 and 52-week low price of CAD 9.54, providing an opportunity to ride the trend.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is January 15, 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Dividend Yield may vary as per the stock price movement. 

Note 5: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.