default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Canada Goose Forecasts Annual Profit Above Estimates on Strong Luxury Goods Demand

Canada Goose red fur trimmed coat.
Canada Goose Holdings Inc forecast full-year profit above market estimates on Thursday. (Shutterstock)

Canada Goose Holdings Inc forecast full-year profit above market estimates on Thursday, encouraged by strong demand for its luxury parkas and jackets.

Demand for luxury goods has remained strong in North America even amid record levels of inflation, as higher prices of gas and food did not dissuade affluent consumers from splurging on high-end apparel, accessories and perfumes.

Luxury peer and Kate Spade owner Tapestry also saw sales in North America surge, helping it post upbeat quarterly results even as demand in China was hit from recent Covid lockdowns, while Kering’s Gucci also delivered strong growth in the United States.

Canada Goose said it expects revenue for fiscal 2023 to be between C$1.30 billion ($1.01 billion) and C$1.40 billion. Analysts on average expect it to be C$1.30 billion, according to Refinitiv IBES data.

The company said it expects an adjusted per-share profit of C$1.60 to C$1.90 for fiscal 2023. Analysts on average expect profit to be C$1.61.

By Deborah Sophia and Mehr Bedi; Editor: Vinay Dwivedi

Learn more:

Canada Goose Cuts Annual Forecast as Omicron-Related Curbs Weaken Traffic

Canada Goose Holdings Inc cut its full-year revenue forecast, as Omicron-related restrictions weigh on demand for the company’s luxury parkas and footwear, sending its US shares down nearly 6 percent in premarket trade.

In This Article
Topics
Organisations

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Luxury
How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.

Sales at Renzo Rosso’s Breganza-based fashion group have continued to climb in a rocky market for designer apparel, validating the design-led approach that was on display at the Diesel and Marni shows this week in Milan.



The scope of the celebrity singer’s new Dior deal remains unknown, but industry sources say the former brand ambassador will star in a campaign lensed by Steven Klein.



view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024