February 07, 2020
Canada Goose lowered guidance for the year ending Mar. 29, calling the coronavirus a “major near-term headwind” to retail both in the PRC, and to stores in tourist destinations that are seeing lower traffic due to cancelled travel from China throughout Asia.
Net income improved 23% to $184,986,000 from $150,028,000 for the final quarter ended Dec. 28 as sales dipped 1% to $1,751,005,000 from $1,768,301,000 with the domestic activewear segment declining 7% to $452,970,000 from $485,417,000 offset by a 7% increase in international sales to $650,807,000 from $608,931,000.
VF Corp. acknowledged that the coronavirus would have a financial impact on its near term results in Asia Pacific, and said that about 60% of its owned and partner stores in China have been closed.
Outdoor Industry Association named Lise Aangeenbrug, currently the executive director of the Outdoor Foundation, as its new executive director.