Canada Goose Holdings reported better-than-expected results in the fiscal fourth quarter ended April 2 on strength in its EMEA region and China. However, Canada Goose’s shares are trading down about 11 percent in late-afternoon trading Thursday as company officials struck a cautious note on its U.S. business as luxury spending cools.
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Canada Goose Sales Expand 31 Percent In Fiscal Fourth Quarter
Canada Goose Holdings, Inc. reported a strong profit earnings uptick in the fiscal fourth quarter that ended April 2 as double-digit growth in Canada, EMEA and Asia Pacific offset a slight decline in U.S. sales that jumped 31 percent. Sales and EPS exceeded company guidance, and revenues are forecasted to climb 19 percent on average for the current fiscal year.
Canada Goose Makes Five Appointments To Leadership Team
Canada Goose reported making five appointments to its leadership team, effective immediately. Matt Blonder was hired as chief digital officer, Juliette Streichenberger was tapped as president of CGAG and the EMEA, Ana Mihaljevic was named head of global stores in addition to her role as president of North America, Daniel Binder moved from an interim position to chief transformation officer and EVP, sales operations and planning, and Patrick Bourke was promoted to SVP of strategy and corporate development.
EXEC: Canada Goose Seeks To Triple Growth In Accelerated DTC Push
At its Investor Day, Canada Goose Holdings revealed plans to nearly triple its growth in five years as it further double-downs on its direct-to-consumer push and ramps up expansion across geographies and enters categories, including eyewear, luggage, and home.
Canada Goose Targets C$3 Billion In Revenue In Five Years
Canada Goose Holdings, Inc. ahead of its Investor Day, said it aims to nearly triple revenue to Canadian$3 billion (C$2.23 billion) in the next five years as it triples its store base and expands its categories and geographic reach.
Canada Goose Cuts Outlook On Weaker China, North America
Canada Goose Holdings Inc. reported earnings and sales came in below guidance in the fiscal third quarter ended January 1 and lowered its outlook for the year due to worse-than-expected COVID-19 related disruptions in Mainland China and slowing momentum in North America.
Canada Goose Offers Resale Platform To Consumers
Canada Goose launched a re-commerce platform, Canada Goose Generations, providing an authorized reselling platform that “keeps Canada Goose products in circulation, giving them a second, third and fourth lifetime,” according to a company release.
Canada Goose Launches Rental Program With Selfridges
Canada Goose is launching a rental program with U.K.-based luxury retailer Selfridges. The rental items will be available from the Selfridges’ website and its London flagship.
Baird Downgrades Canada Goose, Peloton And VF Corp.
Baird lowered its stock ratings on Canada Goose, Peloton and VF Corp. as the investment firm noted concerns that an earnings recovery could take longer than investors have signaled.
Canada Goose Launches Share Repurchase Program
Canada Goose Holdings, Inc. announced plans to purchase for cancellation up to 5.42 million subordinate voting shares over a twelve month period.
Canada Goose Adds Chief HR Officer
Canada Goose hired Jess Johannson as chief human resources officer, overseeing its global teams within HR, including talent acquisition, employee experience, training, and global policy.
Canada Goose To Open Stores In Las Vegas And Denver
Canada Goose announced plans to open stores in permanent locations in Las Vegas and Denver, including two pop-up stores in Aspen and Detroit.
EXEC: Canada Goose Slashes Outlook On China Softening, Macro Concerns
Canada Goose Holdings, Inc. significantly cut its outlook for its fiscal year ending March 2023 as COVID-19 restrictions continue to slow the recovery in China and macroeconomic concerns mount. The downward adjustment comes despite Canada Goose reporting second-quarter results that handily topped analyst targets.
Canada Goose Lowers Outlook Despite Q2 Exceeding Expectations
Canada Goose Holdings Inc. reported results for the second quarter ended October 2 that easily topped analyst estimates but the company reduced its outlook for the year due to weakness in China as well as the uncertain global macroeconomic climate.
Canada Goose Appoints President, China
Canada Goose announced it had hired Larry Li as president, China, effective immediately. Most recently, LI was managing director, China at Dunhill, part of the Richemont Group.
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