Canada Goose Exec Says Co Did Not Expect Demand In China To Rebound Completely This Year; Pricing Power Remains Strong; Innovation Will Drive Another Mid Single Digit Pricing Increase Next Year
Portfolio Pulse from Benzinga Newsdesk
During the Goldman Sachs Conference, a Canada Goose executive stated that the company did not anticipate a full rebound in demand from China this year. However, the company's pricing power remains strong and innovation is expected to drive a mid-single-digit pricing increase next year.
September 12, 2023 | 3:34 pm
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Canada Goose's demand in China is not expected to fully recover this year, but strong pricing power and innovation are expected to drive a mid-single-digit pricing increase next year.
The news directly pertains to Canada Goose (GOOS). The lack of full demand recovery in China might negatively impact the company's short-term revenues. However, the strong pricing power and expected pricing increase due to innovation could offset this, leading to a neutral short-term price direction.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100