Canada Goose (GOOS) sinks 10% after slashing full-year guidance

Canada Goose (NYSE: GOOS) reported second-quarter results on Wednesday and offered a full-year outlook that missed analyst expectations.

In FQ2, the company achieved revenue of C$281.1 million, just ahead of the C$279.2 million consensus. Earnings per share of C$0.16 easily topped the expected loss of C$0.16.

“We delivered solid second quarter results, with earnings exceeding our expectations and gross margin expansion despite operating in a challenging retail environment,” said Dani Reiss, Chairman and CEO of Canada Goose.

“While we are operating in an uncertain macro landscape, we are confident in the power of our brand, the quality of our products, and the ongoing execution of our strategy has us poised to create long-term value for our stakeholders.”

Looking forward to the third quarter of fiscal 2024, Canada Goose expects total revenue to be between $575 million and $700 million. Canada Goose expects total FY revenue to be between $1.2 billion and $1.4 billion, lower than the company's original guidance of $1.4 billion to $1.5 billion.

The company also announced it appointed Neil Bowden as new CFO.

By Senad Karaahmetovic

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