Categories: Business

Canada Goose misses quarterly sales estimates on softening demand

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TDG Syndication

(Reuters) -Canadian luxury apparel maker Canada Goose missed estimates for second-quarter revenue on Thursday, as its efforts to drive sales by bolstering its marketing and promotional strategies failed to deliver results in a weak demand environment. Canada Goose has faced margin pressure owing to costs tied to its aggressive marketing and its efforts to diversify its product assortment away from pricier and higher-margin parkas. Its adjusted profit margin shrank 5.2% in the quarter from a 0.9% jump a year ago. It posted a loss of 14 Canadian cents per share, which was bigger than analysts' estimates of a loss of 11 Canadian cents per share, according to data compiled by LSEG. The company reported a 1.8% jump in revenue to C$272.6 million ($194.38 million)in the quarter ended September 28, compared with the estimates of C$279.3 million, as per data compiled by LSEG. ($1 = 1.4024 Canadian dollars) (Reporting by Chandni Shah and Savyata Mishra in Bengaluru; Editing by Anil D'Silva) (The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
TDG Syndication
Published by TDG Syndication