Luxury retailer Canada Goose withholds annual forecast on tariff uncertainty
A Canada Goose Clothing Company logo on a storefront in Ottawa on Saturday, Sept. 10, 2022. THE CANADIAN PRESS/Sean Kilpatrick
Canada Goose on Wednesday withheld from providing its fiscal 2026 forecast due to uncertainty stemming from the implementation of U.S. President Donald Trump's tariffs.
However, the Toronto-based luxury retailer reported strong quarterly sales, which pushed its U.S.-listed shares up 8% in premarket trading.
The parka maker joined several other companies in either withholding, cutting or withdrawing expectations for the year following the Trump administration's unpredictable tariff shifts.
The tariff policies sparked a global trade war, rattling several business and Americans, who are now bracing for a surge in product prices. Retail behemoth Walmart has already hiked prices on some items.
Canada Goose, which leans heavily on winter clothing, saw strong sales during the key January to March season, partly aided by a Lunar New Year campaign in China, its biggest market that generates 31.7% of its total revenue. Greater China revenue surged 63.1%.
In the United States, a marketing campaign with fashion designer Haider Ackermann, which kicked off in November, aided a 15.3% rise in quarterly revenue. The country accounts for 24.3% of total revenue.
Benefits from leaner inventory levels as well as robust growth of 15.7% in direct-to-consumer channel strengthened its margins.
The company's quarterly gross margin was 71.3%, compared with 65.1% a year ago.
The company's quarterly revenue rose to C$384.6 million ($277.15 million), from C$358 million a year ago. Analysts' estimated C$356.4 million, according to data compiled by LSEG.
($1 = 1.3877 Canadian dollars)
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Pooja Desai and Leroy Leo)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
19 minutes ago
- Globe and Mail
Dear Broadcom Stock Fans, Mark Your Calendars for June 5
Broadcom (AVGO) has weathered its share of turbulence this year, first from the emergence of Chinese startup DeepSeek's competing artificial intelligence (AI) model, then from market jitters tied to tariff threats under President Donald Trump that shook the broader chip sector. Yet, the stock has managed to hold firm. The company's deep entrenchment in AI data center infrastructure, with heavyweight clients such as Alphabet (GOOGL), Meta (META), and TikTok's parent company, ByteDance, continues to anchor its relevance. It's also developing AI inference chips for the likes of ChatGPT maker OpenAI and Apple (AAPL), adding further weight to its positioning. In fact, its most recent earnings reported in March not only topped Wall Street expectations, but also showcased growing momentum in its AI business, a development that certainly caught investors' attention. So, with Broadcom now gearing up to report its fiscal second-quarter results on June 5, the spotlight is back on the stock for a closer evaluation. About Broadcom Stock Broadcom's (AVGO) roots stretch back to 1961, but the company as we know it today took shape in 2016 with the merger of Avago Technologies and Broadcom Corporation. The California-based company has grown into a major force in the tech world, designing and delivering a wide array of semiconductor and infrastructure software solutions. Its technology powers everything from data centers and broadband networks to wireless systems, storage platforms, and industrial applications, making it a key player across multiple high-impact markets. With a commanding market cap nearing $1.2 trillion, Broadcom has stayed resilient in 2025, brushing off broader market turbulence. Year to date, the stock is up about 10%, edging past the marginal gains of the S&P 500 Index ($SPX). However, the real spark has emerged lately, with shares having rocketed 25% in just the last month. Zoom out to a full year, and Broadcom's performance looks even more impressive, boasting a 92.8% return that leaves the SPX in the dust. Broadcom Shares Soar After Q1 Earnings In its fiscal 2025 first-quarter earnings report released on March 6, Broadcom delivered a standout performance, posting revenue of $14.9 billion, beating estimates of $14.6 billion and marking a strong 25% year-over-year increase. Even more impressive was its adjusted earnings per share, which shot up 45.5% annually to $1.60, well above Wall Street's forecast of $1.51. Adjusted EBITDA also surged 41% year over year, reaching $10.1 billion. Breaking down the results, the infrastructure software segment saw revenue climb more than 47% to $6.7 billion. But the real growth engine was Broadcom's booming AI business, which has become central to its performance. As a key supplier of AI data center infrastructure, Broadcom not only builds custom AI chips in partnership with Google but also provides the vital networking components that connect thousands of chips to power cutting-edge AI systems. AI-related revenue alone reached $4.1 billion in the quarter, a jaw-dropping 77% year-over-year increase, helping propel its semiconductor solutions segment to $8.2 billion, up 11% from the previous year. This wave of strong results sent Broadcom's stock soaring almost 8.6% on March 7. Dear Broadcom Stock Fans, Mark Your Calendars for June 5 As Broadcom gets set to release its second-quarter earnings after the bell on June 5, management is striking an upbeat note. CEO Hock Tan signaled strong momentum ahead, stating, 'We expect continued strength in AI semiconductor revenue of $4.4 billion in Q2, as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers.' The company is also projecting total revenue of approximately $14.9 billion for the quarter, with adjusted EBITDA expected to account for 66% of that figure, reflecting Broadcom's robust operating model and the enduring strength of its AI-driven growth. Analysts tracking the company are eyeing a sharp 55.2% jump in Broadcom's quarterly earnings compared to last year. What Do Analysts Expect for Broadcom Stock? Broadcom recently scored a fresh vote of confidence from Redburn Atlantic, which initiated coverage with a 'Buy' rating, citing the company's dominant position in application-specific integrated circuits (ASICs) as a key growth catalyst. Analyst Mike Harrison set an ambitious price target of $301, the highest on Wall Street for now. And Redburn isn't alone. With the company's earnings on the horizon, AVGO is drawing broad support across Wall Street. Analysts continue to rally behind the stock, with the consensus firmly planted in 'Strong Buy' territory, fueled by confidence in the company's AI strength and robust fundamentals. Of the 34 analysts offering recommendations, 30 give it a solid 'Strong Buy,' one suggests a 'Moderate Buy,' and the remaining three give a 'Hold.' While the average analyst price target of $249.37 is below its current trading price, Redburn Atlantic's Street-high target of $301 indicates that the stock can rally as much as 18% from here.
Globe and Mail
19 minutes ago
- Globe and Mail
Constellation Energy Just Landed a Major Meta Platforms Deal. How Should You Play the Nuclear Energy Stock Here?
Constellation Energy (CEG) shares are inching up on Tuesday, June 3 after Meta Platforms (META) announced a 20-year nuclear power agreement with the largest U.S. producer of carbon-free energy. Meta has agreed to buy more than 1 gigawatt of energy, or the entire output from CEG's nuclear facility in Illinois, to meet the ever-increasing power demand of its AI data centers. The agreement will commence in June 2027. Including today's gains, Constellation Energy stock is up nearly 100% versus its year-to-date low in early April. What Meta's Deal Means for Constellation Energy Stock Meta's long-term power purchase agreement (PPA) is a meaningful positive for CEG investors since it ensures a stable revenue stream for the nuclear energy company. Additionally, this deal secures the future of the company's Clinton facility, which faced potential closure after its zero-emission credits expire in 2027. Onboarding a tech titan reinforces Constellation Energy's position in the global market for carbon-free energy, which could drive other artificial intelligence companies to its nuclear facilities as well. All in all, Meta's announcement not only improves visibility into CEG's future earnings and its overall growth prospects – it actually strengthens the case for nuclear power as a reliable source for AI data centers as well. Note that Constellation Energy stock also currently pays a dividend that yields 0.5%. UBS Sees Significant Further Upside in CEG Shares UBS analysts raised their price target on Constellation Energy shares in the wake of Meta's 20-year power purchase agreement on Tuesday. They expect CEG to win more PPA deals in the back half of this year, which, they believe, could drive the company's share price further up to $360, indicating potential upside of another 12% from here. Plus, Constellation's $16 billion acquisition of Calpine Corporation that's expected to close by the end of 2025 may also serve as tailwind for the nuclear energy stock, the investment firm told clients in a research note today. Other Wall Street Firms Recommend Caution on Constellation Energy Investors are still recommended caution in buying Constellation Energy stock at current levels as other Wall Street analysts are not as bullish on the Nasdaq-listed firm. While the consensus rating on CEG shares currently sits at 'Strong Buy,' the mean target of about $303 indicates potential downside of some 3% from current levels.
CBC
20 minutes ago
- CBC
Renée Amilcar to leave OC Transpo
Renée Amilcar, the general manager of transit services at OC Transpo, is leaving her position after less than four years, according to a memo sent to city councillors Tuesday. Amilcar is leaving to "pursue a new career opportunity," wrote city manager Wendy Stephanson in the memo. Her last day on the job will be July 18. Troy Charter, the current director of transit service delivery and rail operations for OC Transpo, will serve as the interim general manager after Amilcar departs, according to Stephanson. "Renée has served the City with dedication and professionalism, leading the Transit Services team through a period of significant operational transformation, modernization and service improvement," she wrote. "I want to extend our sincere thanks and appreciation to Renée for her contributions and wish her continued success in her future endeavours." Amilcar has presided over a tumultuous period at OC Transpo. Her tenure at the head of the organization has been marred by ongoing technical problems with the city's relatively new light rail system, dwindling ridership and unpopular changes to the city's bus network. A longtime public transit official from Montreal, Amilcar was hired in September 2021 and started in her new job the following month. At the time, the city said she was selected following "an extensive, international executive search." She replaced John Manconi, who left after a 32-year career with the city amid continuing fallout from Ottawa's problem-plagued LRT launch. Amilcar is an industrial engineer who worked at Pratt & Whitney Canada, Nortel Networks and Montreal's Société de Transport de Montréal (STM), where she became executive director of bus services in 2014.
