Canada Goose Stock Plummets
CBJ — Shares of Canada Goose took a nosedive of nearly 30% following the company’s fourth-quarter earnings and a concern about the sales outlook.
The concern with investors is primarily whether or not the explosive growth in recent quarters is no longer sustainable.
Revenue in the first three months of this year was $156.2 million — below most analysts’ projections. It resulted in the first first revenue miss by the luxury parka maker since it became a public company in 2017.
Despite the fact the company’s revenue was up 25% from a year ago, it marked a slowdown in growth for the first time in two years.
The company, founded in 1957, started out by selling products to retailers, but began opening its own stores in 2016 before going public. It now expects to open up to 20 stores around the world by 2020.