Worse Performance Dragged Canada Goose Down More Than 30% Leading The Retail Sector

Canada's goose, clothing and fashion brand A&F (Abercrombie & Fitch) fell sharply, leading to a decline in the US stock market.

On Tuesday, 29, Eastern time, Canada goose announced that earnings per share (ESP) of 0.08 yuan in the first quarter of this year, that is, fiscal fourth fiscal year (fourth), was higher than the market forecast of $0.04, but the quarter's operating income was 156 million 200 thousand yuan, an increase of 25% over the previous year, a eight quarter minimum growth rate, also lower than the market expected revenue 158 million 900 thousand 158 million 900 thousand yuan.

Canada geese expects average annual sales growth of at least 20% in the next three years, far below the 40.5% growth in fiscal 2019.

It is also expected that the first quarter and two quarter of this year's adjusted operating profit and net profit per share will have a "much larger loss".

A&F reported a net loss of $19 million 200 thousand in the first quarter of this year and a net loss of $0.29 per diluted share, which is lower than analysts' expected loss of $0.43 / share, while the same store sales growth of 1% was slower than analysts' expectations of 1.4%, and A&F expects the largest increase in net sales in 2% quarter, down from analysts' expectations of 2.8%.

Opening on Tuesday, Canada goose jumped more than 15% in the first half of the day, and dropped 33.60 US dollars in the session. The biggest drop in the day fell by more than 31%, the largest daily decline since March 2017. If the decline is maintained, it will hit a 14 month low and erase the 10% decline over the past year.

A&F (ANF) opened more than 21% at the end of the session, slipped below $18.30 in the session, and expanded to 27% in the day, the largest daily decline since July 2017. At the end of the issue, the decline was still more than 26%. If it keeps the downtrend, it will gain a new low since November 28th last year and wipe out nearly 25% gains this year.

Capri Holdings, which owns luxury brand Michael Kors, fell by about 10%.

Another clothing unit American Eagle fell by about 5%.

S & P 500 retail ETF fell nearly 3%, will usher in the first five days since November 20th last year.