MONTREAL—Canada Goose Holdings Inc. tumbled the most since it went public last year as better-than-expected results failed to meet investors’ lofty expectations for the parka maker. The Toronto-based company plunged almost 16 per cent to $40.36 as of mid-afternoon Thursday, erasing most of its gains for the year. Canada Goose declined to give a new annual forecast and appointed a new finance chief, which may be weighing on shares, said RBC Capital Markets analyst Brian Tunick. The stock plunged even as Canada Goose topped sales estimates, as customers snatched up the made-in-Canada luxury garments at new e-commerce sites and flagship stores including London and Chicago. The share price had almost tripled before Thursday since Canada Goose went public in March, as its direct-to-consumer strategy helps boost margins while it keeps adding new markets.

Source: thestar February 08, 2018 17:37 UTC