20.47 +0.49 (2.45%)
After hours: 5:31PM EDT
|Bid||20.01 x 800|
|Ask||21.00 x 800|
|Day's Range||19.88 - 21.52|
|52 Week Range||12.94 - 47.92|
|Beta (5Y Monthly)||2.03|
|PE Ratio (TTM)||29.25|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||32.90|
Canada Goose (GOOS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Canada Goose Holdings Inc. ("Canada Goose" or the "Company") (NYSE: GOOS, TSX: GOOS) today announced that the Company plans to issue results for the fourth quarter and fiscal 2020, ended March 29, 2020, prior to the market open on Wednesday, June 3, 2020.
Luxury retailers, including Ralph Lauren and Capri Holdings, are among the worst-hit firms as the pandemic pushes consumers to snub discretionary products for essentials, forcing companies to furlough employees and slash investments. The Wall Street Journal had first reported on the layoffs. The company said last month it was planning to reopen its Canadian facilities to make personal protective equipment (PPE), adding that, at full capacity, as many as 900 employees across Canada were going to be working to produce PPEs.
The U.S.-listed shares of Canada Goose Holdings Inc. dropped 7.1% toward a six-week low in midday trading Friday, after BofA Securities analyst Robert Ohmes turned bearish on the Canada-based outerwear company, citing risks to next fiscal year's earnings as the COVID-19 pandemic retrains international tourism. Ohmes cut his rating to underperform from neutral, and stock stock price target on the U.S. shares by 38%, to $15 from $24. "We estimate that ~50% of [Canada Goose's] N. America & Europe demand is driven by international tourism (mostly from China) which we expect to remain restrained through yearend given strict social distancing guidelines and fear of a potential "2nd wave" with current China tourists to the U.S./Canada tracking down ~90%/60%, respectively," Ohmes wrote in a note to clients. "Signs of a maturing N. America market may be further pressured by a tough wholesale environment given GOOS's mall-based footprint (Neiman Marcus, Nordstrom, Bloomingdales, etc.)." He added that he expects "traffic headwinds," given the company's small-store format, as social distancing guidelines are likely to limit occupancy. The stock has plunged 47% year to date, while the S&P 500 has lost 12%.
Canada Goose Holdings Inc. (NYSE: GOOS) is scheduled to report its fiscal fourth-quarter results on May 29.The company is likely to witness a significant decline in revenues from North America and Europe due to restrictions on international tourism, which may continue through at least the end of 2020, according to BofA Securities.The Canada Goose Analyst Robert Ohmes downgraded the rating for Canada Goose Holdings from Neutral to Underperform, while reducing the price target from $24 to $15.The Canada Goose Thesis BofA's BioTech analysts believe that a vaccine for COVID-19 is unlikely before mid-2021, which does not bode well for Canada Goose, Ohmes said in a Friday downgrade note. (See his track record here.)Around 50% demand for the company is driven by international tourism, which is likely to remain constrained at least through the end of 2020, given strict social distancing guidelines and fear of a potential second wave of infections, the analyst said.Ohmes said he expects additional headwinds in the North American market from a challenging wholesale environment, given Canada Goose's mall-based footprint.The company is likely to witness limited occupancy due to its small store format, he said. While Canada Goose's China sales may have recovered in April after plummeting in the fiscal fourth quarter, the company is still in early stage growth in the country, according to BofA. GOOS Price Action Shares of Canada Goose Holdings were down 5.81% at $19.46 at the time of publication Friday.Related Links17 Consumer Cyclical Stocks Moving In Friday's Pre-Market SessionBuy Nike, Sell Under Armour: A Dozen Consumer Lifestyle Brand Calls From BTIGPhoto by Qirille via Wikimedia. Latest Ratings for GOOS DateFirmActionFromTo May 2020B of A SecuritiesDowngradesNeutralUnderperform Apr 2020BTIGInitiates Coverage OnBuy Apr 2020SusquehannaMaintainsPositive View More Analyst Ratings for GOOS View the Latest Analyst Ratings See more from Benzinga * Cantor Cuts Canopy Growth Target After Warrants Exercise * BofA Downgrades SmileDirectClub, Sees Slower Recovery Ahead * Cantor Fitzgerald Says Aurora Cannabis Sell-Off Creates Entry Point(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Amid global economic shutdowns, Canada Goose (NYSE: GOOS) has struggled to find its footing. Like so many retailers counting on foot traffic and fat pockets to meet sales targets, pain resulting from widespread quarantine is real. Since the coronavirus pandemic began early this year, the stock has seen an abrupt 40% price hit.
TORONTO , April 22, 2020 /CNW/ - Today, Canada Goose (NYSE/TSX: GOOS) launched its Sustainable Impact Strategy outlined in the company's first-ever Sustainability Report. Driven by its long-standing commitment to keep the planet cool and the people on it warm, the accelerated strategy includes tangible commitments supporting four key UN Sustainable Development Goals (SDGs), to ensure a sustainable future for generations to come. Carbon Neutrality: Net zero direct and indirect (Scope 1 and 2) greenhouse gas emissions by 2025, through aggressive and tangible action plans which aim to reduce emissions by more than 80 per cent from current levels.
Today, Canada Goose Holdings Inc. ("Canada Goose" or the "Company") (NYSE:GOOS, TSX:GOOS) announced its plans to ramp up domestic production of personal protective equipment (PPE) for frontline healthcare workers across Canada. Over the next two weeks, the Company will begin to reopen all of its eight Canadian facilities and, at full capacity as many as 900 employees will be working to support the efforts.
Fashion brands like The Gap, Inc. (GPS) and HanesBrands, Inc. (HBI) are not only supplementing for the shortage of protective gear, but also looking for a survival strategy.
Canada Goose Holdings Inc. said Thursday that it will bring all eight of its manufacturing facilities back online and put up to 900 staff to work making medical gear for frontline workers. The outerwear company previously announced that 150 employees at the Toronto and Winnipeg facilities would produce 14,000 gowns and scrubs at no charge. That effort began this week. The new contract will be for up to 1.5 million gowns, at cost. Any additional profits will be donated to coronavirus relief funds. Canada Goose stock is down nearly 57% over the past year while the S&P 500 index has fallen 4.5%.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
Nike leads the way in a group of retail stocks Wells Fargo believes could be in for strong returns once the coronavirus crisis subsides.
The number of people in the U.S. who have tested positive for COVID-19 has now surpassed the number of cases in China and Italy, the Asian and European epicenters of the global pandemic.
After several sharp days of rallying, investors were greeted with harsh losses in the stock market today.The SPDR S&P 500 ETF (NYSEARCA:SPY) opened lower by about 3% and fell almost 4% at its lows. However, the market regained its footing for most of the afternoon, as investors awaited the House result for the $2.2 trillion stimulus bill -- the CARE Act.The House vote passed, putting it up to President Donald Trump to push through. With less than an hour to go in the regular trading session, Trump tweeted that he "will be signing" it at 4 p.m. ET in the Oval Office.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhich he did. CARE Passes, Now What?Where we go from here will be interesting now. Do investors view this as a "sell-the-news" event? It's not as if we didn't know about the $2.2 trillion plan until Friday afternoon. It's been in the news all week, as the Senate gave the green light and sent it to the House. Or will investors view this as the "missing piece" and one less unknown cleared up about the current situation, giving them confidence to continue bidding up equities? * 10 Undervalued Stocks Crashing on the Coronavirus Pandemic With the CBOE Volatility Index (VIX) still north of $60, we'll find out soon enough.Passing the CARE act will provide relief across the board. Money will be dispersed to hospitals, citizens, small and midsize businesses and corporations. It comes as the U.S. becomes the most infected country in terms of confirmed coronavirus cases.The U.S. started the month with only 75 confirmed cases and is now just shy of 100,000 cases. With the numbers continuing to grow rapidly, it's having a catastrophic impact on virtually everything and everyone.Many retailers are stepping up to help the fight against the coronavirus outbreak. Companies such as Canada Goose (NYSE:GOOS), Gap (NYSE:GPS), HanesBrands (NYSE:HBI) and Ralph Lauren (NYSE:RL) are beginning to produce face masks, scrubs and gowns for the growing shortage at most hospitals. Target (NYSE:TGT), Lowes (NYSE:LOW) and Home Depot (NYSE:HD) are pulling their weight too, as they redirect supply to healthcare workers. Movers in the Stock Market TodayCruise ship companies are hurting, with many left out of the stimulus package. That's despite President Trump wanting to help major cruise lines. Companies such as Carnival Cruise (NYSE:CCL), Norwegian Cruise Line (NYSE:NCLH) and Royal Caribbean (NYSE:RCL) don't meet the criteria for help as the companies are not incorporated in the U.S.General Motors (NYSE:GM) dealt out tough news to its 69,000 salaried employees. The automaker will cut 20% of their salaries starting April 1st. There is a slight bright side though, as employees will be repaid with no interest in a lump sum no later than March 15, 2021. About 6,500 other employees who can't work from home will be taking a paid leave of absence collecting 75% of their pay and keeping their health care benefits. Even CEO Mary Barra will be taking a 30% salary cut along with other GM executives. GM's reopen date for its North American plants is still TBD.ICYMI -- Ford (NYSE:F) plans to start re-opening its North American plants next month, while GM recently tapped $16 billion from its credit lines.Tesla's (NASDAQ:TSLA) Nevada battery plant -- Gigafactory 1 -- will be cutting about 75% of its on-site workers. This comes after the company's battery partner, Panasonic said it will decrease operations because of the coronavirus. Tesla will also be suspending production of its New York solar roof tile factory as it begins producing ventilators. The company's Fremont factory has already temporarily suspended production.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 Stocks to Buy That Will Benefit From Coronavirus Mayhem * 5 Bank Stocks to Buy Now Because This Isn't 2008 Again * 12 Stocks to Buy That Are Already Positive The post Stock Market Today: The $2 Trillion Stimulus Check Is In the Mail appeared first on InvestorPlace.
Gap Inc. and Canada Goose Holdings Inc. have both committed to leveraging their partners in order to make scrubs and masks for hospital workers, and gowns for patients. In a tweet, Gap said it was bringing together large hospital networks in California with factories to produce gear for medical professionals on the front line of the coronavirus. And Canada Goose is using its manufacturing facilities in Toronto and Winnipeg, to start, to produce medical gear and patient gowns. Production at the Canada Goose facility will begin next week with 50 workers in each facility. The goal is to create 10,000 units initially. Gap stock is up 15% in Wednesday trading, but down more than 62% over the last year. Canada Goose shares are up 7.5% on Wednesday and down 56.5% for the past 12 months. The S&P 500 index has slumped 8.6% over the last year.
The Canadian company, known for its luxury parkas, said on Wednesday it would make scrubs and patient gowns, which are in short supply, and will begin distributing them to local hospitals free of cost next week. U.S. retailer Gap also announced similar plans late Tuesday and said it would pivot resources so that its factory partners can manufacture masks, gowns and scrubs for healthcare workers on the frontline of the outbreak. Last month, Canada Goose had forecast a hit to its annual profit and revenue as the outbreak in China hurt store traffic.
Canada Goose and the Gap are directing their factories to make medical gear in the battle against the coronavirus pandemic.
TORONTO , March 25, 2020 /CNW/ - Canada Goose (NYSE/TSX: GOOS) today announced the company will leverage its manufacturing facilities to begin production of necessary medical gear for frontline healthcare workers and patients across Canada in the fight against COVID-19. The company will begin making scrubs and patient gowns, which are in short supply across the country, and will begin distributing them to hospitals next week. To help address the urgent need facing healthcare workers and patients across the country, Canada Goose has committed to producing medical gear at two of its manufacturing facilities, starting in Toronto and Winnipeg , with the opportunity to extend production across additional facilities as needed.
It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...