(Reuters) – Canada Goose Holdings missed Wall Street estimates for quarterly revenue on Thursday, signaling choppy sales in key luxury goods market China and sending its U.S.-listed shares down 6% in premarket trading.
Weak consumer spending in China has been a major concern for the luxury goods industry, slowing demand recovery in the region, significantly impacting brands like Canada Goose.
The company’s third-quarter revenue fell to C$607.9 million ($423.59 million), from C$609.9 million a year earlier.
Analysts on average had expected revenue of C$620.9 million, according to data compiled by LSEG.
($1 = 1.4351 Canadian dollars)
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Pooja Desai)
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