November 13, 2019 / 4:33 PM / a month ago

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below