Canada Goose Holdings Inc Stock Forecast:
Based on the forecast of 6 analysts, the average target price for Canada Goose Holdings Inc over the next 12 months is CAD 29.20. The average analyst rating for the company is Buy. Stock Target Advisor‘s own analysis of Canada Goose Holdings Inc indicates a slightly bullish outlook, supported by 11 positive signals and 6 negative signals. As of the last closing, the stock price of Canada Goose Holdings Inc was CAD 27.49. In the past week, the stock price has changed by -0.54%, while over the past month, it has increased by +10.94%. Looking back over the last year, the stock price has risen by +3.11%.
Canada Goose Holdings Inc. News:
Canada Goose Holdings Inc, has unveiled a robust sales forecast that exceeds Wall Street estimates. The company is betting on a resurgent luxury market in China to offset a slowdown in demand from the United States. A recent reversal in China’s strict COVID-19 policies has prompted a resurgence in consumer activity, particularly among affluent shoppers who are eagerly purchasing high-end products like Coach handbags, Cartier jewelry, and coveted Birkin bags. With several companies banking on China to boost their sales this year, Canada Goose is positioning itself to capitalize on this trend.
During the quarter that ended on April 2, revenue from Canada Goose’s Asia Pacific segment surged by an impressive 65.4%, reaching C$114.1 million. This notable growth starkly contrasts with a 5.2% drop witnessed in the previous quarter. Encouragingly, the Toronto, Ontario-based company projects its fiscal 2024 revenue to fall within the range of C$1.40 billion to C$1.50 billion. This optimistic forecast surpasses the average estimate of C$1.33 billion projected by industry analysts.
Canada Goose has established itself as a symbol of quality and luxury, providing customers with top-notch winterwear that combines style and functionality. With its iconic parkas and other high-performance products, the brand has attracted a loyal customer base worldwide. By continuing to deliver exceptional craftsmanship and innovative designs, Canada Goose is poised to maintain its status as a leader in the luxury winterwear market.
As the company sets its sights on fiscal year 2024, Canada Goose is optimistic about its prospects for continued growth. The projected revenue range of C$1.40 billion to C$1.50 billion reflects the company’s confidence in its ability to capitalize on the rebounding luxury market in China. With its unwavering commitment to quality and its astute strategic decisions, Canada Goose is well-positioned to navigate market challenges and deliver value to its stakeholders.
