(Reuters) -Canada Goose Holdings Inc cut its full-year revenue forecast on Thursday, as Omicron-related restrictions weigh on demand for the company’s luxury parkas and footwear, sending its U.S. shares down nearly 6% in premarket trade.
Sales of the luxury parka maker have been dampened by a resurgence in COVID-19 cases due to the Omicron variant in key markets, including China and Europe, that kept shoppers home during the all-important holiday quarter.
The company said it now expects revenue for fiscal 2022 to be between C$1.090 billion and C$1.105 billion, compared with its prior estimate of between C$1.125 billion and C$1.175 billion.
The company’s third-quarter revenue rose to C$586.1 million ($462.59 million) from C$474 million a year earlier, beating the average analyst estimate of C$583.2 million, according to IBES data from Refinitiv.
($1 = 1.27 Canadian dollars)
(Reporting by Aditi Sebastian in Bengaluru; Editing by Maju Samuel)
