As previously reported, Williams Trading analyst Sam Poser downgraded Canada Goose to Sell from Hold with a price target of C$11, down from C$13. Management continues to believe that the Canada Goose brand is a luxury brand rather than a premium outdoor brand, says the firm, which sees the brand “losing luster” and thinks ongoing sales in the U.S. will “remain challenged for some time as Canada Goose prices itself out of the market.” The firm, which expects that the problems starting to occur in the U.S. will develop over time in Europe and Asia, and “to a lesser extent, leak into Canada,” forecasts that Q3 and FY24 results will come in at the low end of guidance.
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