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Fly News Breaks for February 10, 2020
GOOS
Feb 10, 2020 | 05:26 EDT
Baird analyst Jonathan Komp upgraded Canada Goose to Outperform from Neutral with an unchanged price target of C$53. Goldman Sachs this morning downgraded the shares to Neutral from Buy. Komp is encouraged that Canada Goose shares fell only modestly after the company cut earnings estimates greater than 20% on the coronavirus impact. Getting past the estimate reset is an important step, says the analyst, who sees "potential for the intensity surrounding several debates" to lessen during fiscal 2021. With Canada Goose trading near luxury brand peers on the lowered estimates, its one-year-out downside is limited, Komp tells investors in a research note. He believes the shares "could double" if Canada Goose returns to its longer-term algorithm and recaptures lost China/Hong Kong contribution.
News For GOOS From the Last 2 Days
GOOS
Mar 26, 2024 | 09:10 EDT
Canada Goose announced a redesign of its global corporate workforce, as part of its ongoing transformation program, representing a reduction of approximately 17% of corporate roles. The changes followed a comprehensive review of the organizational structure and roles needed to achieve our strategic objectives, which we anticipate will yield immediate cost savings, simplify organizational structure, accelerate decision making and increase efficiencies across our operating platform. Moving forward, cross-functional teams will be integrated, and business activities will be aligned to our go-forward strategy. Canada Goose will provide full results for the quarter and year ended March 31 on its May 2024 earnings call, including further information on the Transformation Program and its impacts, and our outlook for fiscal 2025.