Canada Goose Sees Annual Sales Above Estimates, Shares Jump 7% Premarket

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Canada Goose Sees Annual Sales Above Estimates, Shares Jump 7% Premarket

Reuters2023-05-18

(Reuters) - Canada Goose Holdings Inc. forecast annual sales above Wall Street estimates on Thursday, betting that a sharp rebound in key luxury market China would help the luxury winterwear maker ride out a slowdown in U.S. demand.

The company said it expects fiscal 2024 revenue between C$1.40 billion ($1.05 billion) and C$1.50 billion, compared with analysts average estimate of C$1.33 billion, according to Refinitiv data.

Canada Goose shares jump 7% in premarket trading.

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