August 14, 2019 / 4:28 PM / 2 months ago

BUZZ-Canada Goose: Cooked on quarterly margin miss

(Updates)

** Shares of luxury apparel company fall 8.7% to C$52.18

** Co’s Q1 net loss widens; posts gross profit margins of 57.5% vs consensus view of 61.6%, according to Refinitiv data

** Lower-margin lightweight jackets and higher proportion of sales to department stores hit margins

** One seasonally weak quarter may not dictate annual growth - TD Securities analysts

** Of 6 brokerages, 5 rate the stock “buy” or higher, 1 “hold”; their median PT is $55

** Stock down 12.6% this year (Reporting by Sanjana Shivdas and Shanti S Nair in Bengaluru)

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