By Adriano Marchese
Canada Goose Holdings said it expects its second half of the fiscal year to come under pressure from global macroeconomic and geopolitical headwinds.
The Canadian winter-apparel manufacturer said Wednesday that it has lowered its guidance for the year, and now expects revenue in fiscal 2024 to be between 1.2 billion and 1.4 billion Canadian dollars ($864.8 million-$1.01 billion).
Originally, the company had set targets for revenue to come in between C$1.4 billion and C$1.5 billion.
Canada Goose said it saw the early momentum gathered in the second quarter begin to slow in September.
“Our outlook for the second half of fiscal 2024 has come under pressure due to the increasingly challenging global macroeconomic and geopolitical environments that have impacted consumer decision-making and prioritization of spend,” the company said.
The company also now forecasts adjusted net income to be lower than previously expected. Canada Goose set its targets for the year between C$0.60 and C$1.40 a share, compared with its original guidance of net income between C$1.20 and C$1.48 a share.
More immediately, for the third quarter, Canada Goose said it expects total revenue to be between C$575 million and C$700 million. For adjusted net income, the company is targeting a range of C$1.22 to C$1.76 a share.
Write to Adriano Marchese at [email protected]
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