Canada Goose cuts full-year guidance as COVID restrictions hurt China business
BNN Bloomberg
Canadian luxury parka maker Canada Goose Holdings Inc. trimmed its financial guidance for the year as COVID-19 restrictions in China and worries about the global economy weigh on the company.
"There is no doubt that the macroeconomic backdrop continues to present challenges," Dani Reiss, Canada Goose's chairman and CEO, told a conference call with financial analysts Wednesday.
'We are not seeing the level of improvement we had assumed in mainland China," he said. "COVID-related disruptions, including mall closures, lockdowns and travel restrictions, continue to impact traffic."
As the company heads into its most lucrative quarter, Reiss said the disruptions are beginning to affect an increasing number of cities where Canada Goose operates.
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