Adds details on results, background, shares

Feb 10 (Reuters)Canada Goose Holdings Inc GOOS.TO, GOOS.N cut its full-year revenue forecast on Thursday, as Omicron-related restrictions weigh on demand for the company’s luxury parkas and footwear, sending its U.S. shares down nearly 6% in premarket trade.

Sales of the luxury parka maker have been dampened by a resurgence in COVID-19 cases due to the Omicron variant in key markets, including China and Europe, that kept shoppers home during the all-important holiday quarter.

The company said it now expects revenue for fiscal 2022 to be between C$1.090 billion and C$1.105 billion, compared with its prior estimate of between C$1.125 billion and C$1.175 billion.

The company’s third-quarter revenue rose to C$586.1 million ($462.59 million) from C$474 million a year earlier, beating the average analyst estimate of C$583.2 million, according to IBES data from Refinitiv.

($1 = 1.27 Canadian dollars)

(Reporting by Aditi Sebastian in Bengaluru; Editing by Maju Samuel)

((aditi.sebastian@thomsonreuters.com;; outside U.S. +91 7760 787 976;))

Source: Nasdaq

LEAVE A REPLY

Please enter your comment!
Please enter your name here