financetom
Business
financetom
/
Business
/
Canada Goose beats Q4 sales estimate on steady demand recovery in China
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Canada Goose beats Q4 sales estimate on steady demand recovery in China
May 16, 2024 4:45 AM

May 16 (Reuters) - Canada Goose, beat

market expectations for quarterly revenue on Thursday, backed by

a strong recovery in demand for its pricey puffer jackets in

China even as spending on luxury goods remained weak in the U.S.

U.S.-listed shares of the company, which in March said would

trim 17% of global corporate workforce, rose 5% in premarket

trading.

The company joins peers such as Birkin bag maker Hermes

and Italy's Prada in seeing a sturdy demand

for high end products and in defying a broader slowdown in key

market China, which is grappling with a property crisis and

youth unemployment.

The parka maker's revenue in Asia-Pacific jumped 29.6% in

the fourth quarter, compared with an about 62% rise in the prior

quarter.

Revenue in North America rose 24.5%, having declined 14% in

the previous quarter.

The Ontario based company's revenue rose to C$358 million

($262.71 million) in the fourth quarter of its fiscal year,

compared with analysts' expectations of C$315.5 million,

according to LSEG data.

($1 = 1.3627 Canadian dollars)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sterling and Wilson Solar opens new office in Spain
Sterling and Wilson Solar opens new office in Spain
Nov 9, 2020
Europe has enormous potential in terms of solar capacity and the market is expected to witness the commissioning of new solar PV capacities of about 7 GW each year and emerge as a 28 GW market by 2023.
Paytm aims to disburse Rs 1,000 cr worth loans to merchants by March
Paytm aims to disburse Rs 1,000 cr worth loans to merchants by March
Nov 9, 2020
Paytm claims that it processed loans worth Rs 550 crore to over a lakh merchant partners in the last financial year.
Margin savings to be retained when normalcy returns: eClerx
Margin savings to be retained when normalcy returns: eClerx
Nov 9, 2020
On margins, Gupta believes that some margin savings will be retained when normalcy returns. He is expecting margins to settle between FY20 and H1FY21 levels.
Bank of Maharashtra cuts repo-linked lending rate by 15 bps
Bank of Maharashtra cuts repo-linked lending rate by 15 bps
Nov 9, 2020
Stateowned Bank of Maharashtra has reduced its repo linked lending rate (RLLR) by 15 basis points to 6.90 per cent. The lender's retail and MSME loans are linked to RLLR. The new rates are effective from November 7. Reduction in RLLR makes our home loan, car loan, gold loan, education loan, personal loan along with MSME loans more attractive and affordable, bank's executive director Hemant Tamta said in a release. Earlier ahead of the festive season, the bank had also announced processing fee waiver on home, car and gold loans. With this downward revision in RLLR, home loan rates start at 6.95 per cent (0.05 per cent concession to woman and defence personal), car loan rates start at 7.55 per cent and gold loan rates at 7.35 per cent, the bank said. Bank of Baroda also reduced its RLLR by 15 basis points (bps) to 6.85 per cent from November 1.
Copyright 2023-2026 - www.financetom.com All Rights Reserved