08:05 AM EST, 02/06/2025 (MT Newswires) -- Canada Goose (GOOS.TO) on Thursday reported higher third-quarter adjusted profit that missed forecasts.

The company's shares were last seen down 4% to US$10.21 in New York trading.

The luxury outerwear manufacturer said adjusted net income rose to $148.3 million, or $1.51 per diluted share, from $138.6 million, or $1.37 per diluted share in the prior year period. The result missed the consensus FactSet forecast of $1.54.

Total revenue fell 2% to $608 million, and missed a consensus analyst forecast of $620.3 million, according to FactSet. The lower revenue was primarily due to a 7.5% decline in wholesale revenue as Canada Goose works on "right-sizing" its inventory position and building strong relationships with brand-aligned partners.

The company also tweaked its fiscal 2025 guidance for adjusted earnings per share to "low-single digit increase to flat" from its Nov. 7 forecast of "mid-single digit increase."