03:13 PM EDT, 05/17/2024 (MT Newswires) -- Canada Goose Holdings' ( GOOS ) weakening sales in North America indicate the brand is losing relevance with consumers, UBS said in a report emailed Friday.

Despite reporting "moderately better than expected" fiscal Q4 results, the company is likely to continue posting "lackluster" sales growth in 2024, UBS said.

The Q4 report still highlighted a focus on "the right metric" by prioritizing same-store sales growth in the direct-to-consumer channel, UBS said.

UBS raised its fiscal 2025 earnings-per-share estimate to CA$1.15 ($0.84) from CA$1.05 on a higher margin outlook.

The firm maintained its neutral rating on the stock and raised the 12-month price target to $14 from $12.

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