Canada Goose falls as guidance is unchanged amid revenue surge [Business News Network (BNN) Energy & Resources (Canada)]
Canada Goose Holdings Inc. Subordinate Voting Shares (GOOS)
Last canada goose holdings inc. subordinate voting shares earnings: 2/7 06:45 am
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Source: Business News Network
Canada Goose falls as guidance is unchanged amid revenue surge Canada Goose Holdings Inc. ( GOOS.TO ) plunged as much as 8 per cent in premarket trading after the luxury clothing maker stuck to an annual forecast even as revenue topped expectations in the latest quarter. In a phone interview, Chief Executive Officer Dani Reiss said it would have been “irresponsible” for him to change guidance based on the smallest sales quarter of the fiscal year. “My focus really is on building long-term shareholder value and building a great brand for our consumers,” Reiss said. “I know that our shareholders understand our business.” Key Insights - Sales growth suggests Canada Goose’s attempt to expand its offerings beyond winter gear with products such as US$750 raincoats is paying off. The company also shipped wholesale orders to Asia and Europe earlier after increasing manufacturing capacity. - Expansion in Asia and in particular China is working, with revenue from the region tripling. Overall
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