Canada Goose Plunged Today -- Is the Market Overreacting?
Shares of Canada Goose (NYSE: GOOS), a maker and retailer of winter jackets, got off to a lousy start on Feb. 10, losing as much as 21% of their value in the first few minutes of trading. The big news was the company's premarket earnings release. It was a mix of positives and negatives, even though investors were clearly left with a downbeat view of the future. Before you make a final call here, there are some things to understand about the company and its results.
Like many hot retail companies Canada Goose rose to fame because of a single product. In this case it was its winter parkas. Since most people only buy winter coats when it is cold, the company has a highly seasonal business. The recently ended fiscal third quarter is the biggest selling period of the year for the company. It didn't actually have a bad quarter.
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Source Fool.com
