BUZZ-Canada Goose falls on quarterly revenue miss and profit forecast cut

*U.S.-listed shares of Canada Goose GOOS.TO, GOOS.N down 5.7% at $10.03 premarket

Co posts Q3 net revenue of C$607.9 million, missing analysts' expectations of C$620.9 million

Co cuts adjusted net income growth forecast to a range between low-single digit percentage increase and flat from the prior mid-single digit increase

Cuts forecast for full-year adjusted earnings before interest and tax margin to flat to 100 basis points decrease from prior 60 basis points increase to 60 basis points decrease

Result signals choppy demand in the key market of China, where revenue decreased by 10.9% in the quarter compared to a year ago

GOOS stock fell 8.25% in 2024