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Luxury firms have seen sales in China recover sharply after the country lifted its COVID-19 restrictions, with top names like LVMH and Ray-Ban sunglasses maker EssilorLuxottica logging strong performances in the market in their recent quarterly reports.
Canada Goose said revenue from its Asia Pacific segment jumped 52.2% to C$24.5 million in the quarter ended July 2, compared with a 65.4% surge seen in the prior quarter.
Revenue from the United States also improved, rising 15.3% to C$18.1 million, in a sign that the market was recovering for the luxury parka maker after a slowdown in the previous quarter.
The Toronto, Ontario-based company’s revenue rose to C$84.8 million ($63.44 million) in the first quarter of its fiscal year, from C$69.9 million a year earlier. Analysts on average had expected revenue of C$75.4 million, according to Refinitiv data.
($1 = 1.3368 Canadian dollars)
