Once darlings of the retail world, Canada Goose and Abercrombie plunge on earnings
- Canada Goose Holdings Inc posted its slowest revenue growth in eight quarters and forecast even slower sales growth for the next three years on Wednesday, sending shares in the high-end winter clothing brand down 26%.
The company, whose parkas are sported by celebrities, has been expanding beyond North America, opening its first store in China in 2018. It plans to add three more stores in China in addition to the six it already announced. “I come back to the fact that we guide responsibly,” Chief Executive Officer Dani Reiss said when analysts asked if the forecast was conservative.
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