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Canada Goose Plunges to All-Time Low as Jacket Sales Look Weak
- Weaker economic data from China is weighing on retail outlook
- Two analysts downgraded and cut their price targets Thursday
Canada Goose jackets for sale inside a Nordstrom store in Toronto
Photographer: Cole Burston/BloombergCanada Goose Holdings Inc. shares plummeted to a record low for the second day in a row as economic and consumer pressures prompted a pair of analyst downgrades.
The parka retailer’s stock fell 4.4% to close at $12.16, recovering some of its losses after sinking as much as 9.8% intraday following downgrades from Wells Fargo & Company and TD Cowen. The analysts recommended investors move to the sidelines as the economic outlook for key markets sours while warmer than usual fall weather and weak customer trends are expected to weigh on sales.