×
230
Fashion Jobs
H&M
Merchandise Manager
Permanent · NEW DELHI
COLUMBIA SPORTSWEAR COMPANY
Indirect Accounts Payable Specialist-ii
Permanent · BENGALURU
LAVYA ASSOCIATES HR SERVICES
Regional Manager - Corporate Sales | Life Insurance - Ahmedabad
Permanent · Chennai
INDUSIND BANK
Hiring - Area Collection Manager - Bangalore
Permanent · Bengaluru
MANBA FINANCE
Area Sales Manager - Mumbai (Two Wheeler Loans)
Permanent · Navi Mumbai
CIEL HR
Manufacturing / Production Manager (From Nickel Plating Plant Only)
Permanent · Ahmedabad
CREATIVE HR SERVICE
Production Manager
Permanent · Vapi
THE BANYAN HR CONSULTS
Training Manager For a Garments CO For Chennai / Bangalore / Hyd
Permanent · Chennai
AJAY INDUSTRIAL CORPORATION (AICL)
Production Manager (hp Division)
Permanent · Ghaziabad
VRB CONSUMER PRODUCTS
Job Opening as Asst Manager Production - Keshwana
Permanent · Keshwana
POLYCAB INDIA LTD
Area Sales Manager
Permanent · Ludhiana
CEAT
am Production Tbr Stock (Halol- Gujarat)
Permanent · Halol
FIRST MERIDIAN BUSINESS SERVICES
Head Production Manager
Permanent · Gurugram
FIRST MERIDIAN BUSINESS SERVICES
Production Manager (Female)
Permanent · Oragadam
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-Denmark Mnc - Hearing Aid or Medical Device
Permanent · Kolhapur
SMART SOURCE
Buyer & Merchandiser With a Top Brand-Mumbai
Permanent · Mumbai
MURUGAPPA GROUP
Area Sales Manager - Commercial Vehicle
Permanent · Ahmedabad
H&M
Content Production Manager
Permanent · NEW DELHI
CAPITAL PLACEMENT SERVICES
Production Manager For Agrochemical Industry in Saykha,Gujarat
Permanent · Bharuch
ADITYA SAMRAJ NATURAL FOODS PVT. LTD.
Area Sales Manager / Regional Sales Manager
Permanent · Ambala
AIRTEL
Area Manager
Permanent · Kanchipuram
ADIDAS
Senior Tech Project Manager
Permanent · GURUGRAM
By
Reuters API Fashion
Published
Feb 2, 2023
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Canada Goose cuts forecasts as COVID disruptions weigh on China sales

By
Reuters API Fashion
Published
Feb 2, 2023

Canada Goose Holdings Inc trimmed its full-year revenue and profit forecasts on Thursday after COVID-19 disruptions weighed on sales of its luxury parkas and jackets in China during the third quarter.


Canada Goose - Canada Goose


U.S.-listed shares of the Canadian company fell about 8% in premarket trading to $22.60, after the company also said it faced a slowing momentum in North America.

The Chinese government's efforts to contain the spread of infections with its zero-COVID policy have hit revenues of luxury companies like Canada Goose that witnessed store closures, elevated inventory levels and decline in demand in the country as consumers turned more cautious.

European peers like Cartier jewellery maker Richemont also missed market expectations in January after a resurgence of COVID-19 in China hampered sales growth, while British luxury brand Burberry saw the disruptions offset a stronger performance in Europe.

The Toronto, Ontario-based company cut its fiscal 2023 sales expectations to about C$1.18 billion to C$1.20 billion, compared with its prior forecast of C$1.2 billion to C$1.3 billion. It forecast adjusted profit of between 92 Canadian cents and C$1.03 per share for fiscal 2023, against a prior target of C$1.31 to C$1.62.

Still, chief executive Dani Reiss said the company had seen promising signs of "a strong local rebound to date" in Mainland China.

Analysts predict luxury and beauty companies to be among the biggest gainers from China's easing of COVID protocols in 2023, which is expected to boost their sales in the region.

The luxury parka maker's revenue fell to C$576.7 million in the third-quarter ended January 1, compared to analysts' average forecast of about C$623.6 million in Refinitiv IBES data.

© Thomson Reuters 2023 All rights reserved.