for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

BUZZ-Canada Goose dives after first rev miss since debut

(Updates share movement with milestone, adds analyst comment)

** U.S.-listed shares of luxury apparel company slump 23.2% to $11.31; shares at primary Toronto listing also slide 15%

** Co’s Q4 rev misses analysts’ expectations, hurt by higher costs; first rev miss since its debut in March 2017

** Co also forecasts slower sales growth for the next three years

** Co has been investing to grow its direct-to-consumer business to rely less on department stores, and expanding footprint in China and other areas

** A forecast of 20% growth in 2020, puts it below estimates of C$1.05 bln by over C$50 mln, according to Reuters calculations

** Baird Equity Research analysts call co’s initial FY 2020 guidance disappointing

** GOOS shares hit over a year low and set for worst one-day pct loss since debut

** Including session’s losses, shares at both listings of Canada Goose down ~15% this year, erasing YTD gains (Reporting by Divya R in Bengaluru)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up