Canada Goose Shares See Their Longest Ever Losing Streak
- Shares fall for an 11th day, hitting a fresh low of C$13.60
- Shares slid by around 23% in October as the economy darkened
Coats in a window display at a Canada Goose store in Montreal
Photographer: Graham Hughes/BloombergThis article is for subscribers only.
Canada Goose Holdings Inc. shares extended their longest ever losing streak, falling for an 11th day, after the luxury parka retailer slashed its fiscal year earnings outlook, citing macroeconomic pressure.
The stock hit a fresh intra-day low on Wednesday at C$13.60 ($9.80) after the company reduced its fiscal year total revenue forecast to a range between C$1.2 billion and C$1.4 billion, short of the C$1.42 billion that analysts had expected on average. The company’s previous range was C$1.4 billion to C$1.5 billion.