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Company News

BUZZ-Canada Goose tumbles after co flags hit to wholesale business

(Updates)

** Shares of Canadian parka maker fall ~11% to hit a 5-month low of C$46 - top pct loser on Canada’s main stock index

** Company expects wholesale revenue in Q3 to decrease in the mid-teens on a percentage basis from the previous year

** “We’ve shipped so much of our fall/winter order book earlier, which naturally means less shipments in the next quarter” - CEO Dani Reiss said on a post-earnings conference call

** U.S.-listed shares reverse course to trade down 10.8% at $34.81; shares were up ~6% premarket

** However, GOOS’s Q2 results beat estimates on higher orders from department stores for its parkas and jackets

** Canadian-listed shares of the company have fallen 21.8% this year (Reporting by Shanti S Nair and Arunima Kumar in Bengaluru)

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