Canada Goose Holdings Inc. is expecting a strong rebound in sales this year, thanks to a sharp rebound in the key luxury market of China. The Toronto-based luxury winterwear maker reported a 65.4% jump in revenue from its Asia Pacific segment in the quarter ended April 2, compared to a 5.2% drop in the previous quarter. This has buttressed sales at a time when luxury shoppers in the United States have paused a post-pandemic splurge on high-end goods. The company is forecasting fiscal 2024 revenue between C$1.40 billion and C$1.50 billion, compared with analysts average estimate of C$1.33 billion. U.S.-listed shares of the company jumped about 6% in premarket trading. Canada Goose is betting that the rebound in China will help it ride out a slowdown in U.S. demand.
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