The Business of Fashion

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

Canada Goose Cuts Sales Forecast on Rocky China Recovery, Appoints New CFO

Canada Goose Holdings cut its annual sales forecast on Wednesday, in a sign that a sharp rebound in China was starting to falter. (Canada Goose)

Reuters

01 November 2023

Canada Goose Holdings cut its annual sales forecast on Wednesday, in a sign that a sharp rebound in China was starting to falter and sales in the US stayed under pressure.

While China demand bounced back in the prior two quarters, hopes for a sustained recovery in the market is uncertain.

The company, whose US-listed shares fell 8 percent in pre-market trading, also appointed current Deputy Finance Chief Neil Bowden as CFO. Bowden would succeed Jonathan Sinclair, who has been named president, APAC, effective April 1, 2024.

The Toronto, Ontario-based company expects fiscal 2024 revenue to be between C$1.20 billion ($864.30 million) and C$1.40 billion, compared with its previous forecast of C$1.40 billion to C$1.50 billion.

By Aatrayee Chatterjee; editing by Mrigank Dhaniwala and Shilpi Majumdar

Learn more:

Canada Goose Sees Weak Q2 as Choppy US Demand Douses China Rebound

In This Article

Topics

Retail

Organisations

Canada Goose

Sneaker Brand On to Launch New Line With FKA Twigs

The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.

Brands Owed Millions After Matchesfashion Collapse

Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.

US Sues to Block $8.5 Billion Union of Coach, Michael Kors

Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.

Op-Ed | How Long Can Adidas Surf the ‘Terrace’ Trend?

As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.