The Globe and Mail reports in its Thursday, Nov. 2, edition that Canada Goose Holdings cut its financial guidance for its full year as it warned an "uncertain" and "increasingly challenging" global landscape along with an unseasonably warm September that could hamper sales.
A Canadian Press dispatch to The Globe reports that chief financial officer Jonathan Sinclair says: "The first cold snap prompts business. It sort of reminds the consumer that this is the time that they should go and buy cold weather gear."
Inflation has remained high, pushing many consumers to rethink their spending. At the same time, geopolitical tensions are flaring between Canada and China, a market the company has long targeted for expansion.
As a result, Canada Goose now expects total revenue for its 2024 financial year between $1.2-billion and $1.4-billion, compared with its earlier guidance for between $1.4-billion and $1.5-billion.
The company also said it expects adjusted net income per diluted share between 60 cents and $1.40 for its full year, compared with its earlier guidance for between $1.20 and $1.48. Canada Goose arrived at that guidance because it saw momentum around its business slow noticeably in September.
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