Company News

Canada Goose sees lower wholesale revenue in current quarter

Nov 13 (Reuters) - Canada Goose Holdings Inc said on Wednesday that revenue from its wholesale business in the third quarter will take a hit due to early shipments to department stores, sending its shares down 8%.

“We’ve shipped so much of our fall/winter order book earlier, which naturally means less shipments in the next quarter,” Canada Goose Chief Executive Officer Dani Reiss told analysts on a conference call.

The company said it expects wholesale revenue in the current quarter to decrease in the mid-teens on a percentage basis year-over-year.

The company’s U.S.-listed shares rose 8% in premarket trading after posting better-than-expected results. (Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva)