Canada Goose beats revenue estimates on steady China demand (updated)

Canada Goose Holdings

07/11/2024 12:03

(Adds background in paragraph 2)
       Nov 7 (Reuters) - Canada Goose Holdings  GOOS.TO 
 GOOS.N  topped Wall Street estimates for quarterly revenue on
Thursday, as steady demand for its pricey puffer jackets in key
luxury goods market China cushioned bleak U.S. sales.
    The company said revenue rose 2.5% in Greater China in the
second quarter, the fourth consecutive quarter of growth in the
market.  
    The increase defies the broader weakness flagged by bigger
luxury brands such as Gucci owner Kering  PRTP.PA  and LVMH
 LVMH.PA .
    Canada Goose said second-quarter revenue fell to C$267.8
million ($193 million), from C$281.1 million a year earlier. 
    Analysts on average had expected revenue of C$260.2 million,
according to data compiled by LSEG.
   

($1 = 1.3888 Canadian dollars)

 (Reporting by Aatrayee Chatterjee in Bengaluru; Editing by
Sriraj Kalluvila)
 ((Aatrayee.Chatterjee@thomsonreuters.com))