Canada Goose forecasts annual revenue above estimates on robust luxurious items demand


Labels are seen on Canada Goose jackets in a retailer in Manhattan, New York Metropolis, U.S., February 7, 2022. REUTERS/Andrew Kelly

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Could 19 (Reuters) – Canada Goose Holdings Inc (GOOS.TO), forecast full-year revenue above market estimates on Thursday, inspired by robust demand for its luxurious parkas and jackets.

Demand for luxurious items has remained robust in North America even amid file ranges of inflation, as larger costs of fuel and meals didn’t dissuade prosperous shoppers from splurging on high-end attire, equipment and perfumes.

Luxurious peer and Kate Spade proprietor Tapestry (TPR.N) additionally noticed gross sales in North America surge, serving to it publish upbeat quarterly outcomes at the same time as demand in China was hit from current COVID lockdowns, whereas Kering’s (PRTP.PA) Gucci additionally delivered robust development in america.

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Canada Goose mentioned it expects income for fiscal 2023 to be between C$1.30 billion ($1.01 billion) and C$1.40 billion. Analysts on common anticipate it to be C$1.30 billion, in keeping with Refinitiv IBES information.

The corporate mentioned it expects an adjusted per-share revenue of C$1.60 to C$1.90 for fiscal 2023. Analysts on common anticipate revenue to be C$1.61.

($1 = 1.2816 Canadian {dollars})

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Reporting by Deborah Sophia and Mehr Bedi in Bengaluru; Enhancing by Vinay Dwivedi

Our Requirements: The Thomson Reuters Belief Ideas.



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