Canada Goose Holdings (DOG)
GOOS - TSX
It’s official: Canada Goose has laid a big goose egg for investors. After the high-end parka maker slashed its outlook on Wednesday, the shares tumbled to their lowest close since the company’s initial public offering more than five years ago. Citing COVID-19 restrictions in China and “significant uncertainty from the broader macro-economic and political environment,” the company now expects sales of $1.2-billion to $1.3-billion for the fiscal year ending next March, down from a previous estimate of up to $1.4-billion. Canada Goose also cut its adjusted net income forecast to between $1.31 and $1.62 a share, down from as much as $1.90. No wonder investors are cutting the Goose loose.
Tupperware (DOG)
TUP - NYSE
Tupperware’s food-storage containers may have an airtight seal, but the company’s cash-flow statement has sprung a serious leak. Hurt by inflation, COVID-19 lockdowns in China and weak consumer sentiment, the maker of kitchen and household products said third-quarter sales slumped 20 per cent and cash flow from operations was negative US$65.8-million for the year to date. Tupperware warned “it is probable that the company will not be able to maintain compliance with the covenants in its credit agreement … which raises substantial doubt about the company’s ability to continue as a going concern.” It’s not clear how they’ll be able to put a lid on this.
Lightspeed Commerce (DOG)
LSPD - TSX
Business quiz! Shares of Montreal-based Lightspeed Commerce sank after: a) Elon Musk offered to buy the point-of-sale and e-commerce software company, but changed his mind 24 hours later; b) a short seller falsely claimed that Lightspeed has been laundering money for the Hells Angels; c) the company reported a fiscal second-quarter loss of US$79.9-million and cut its full-year revenue outlook, citing unfavourable foreign-exchange rates and a weaker macroeconomic outlook. Answer: c.
Ocado Group PLC ADR (STAR)
OCDDY - OTC
Robots build our cars and vacuum our floors. Eventually, they’ll probably do all of our grocery shopping, too. Shares of Ocado Group rose after the British company – whose software and robotics technology is used by a growing number of grocers to fulfill online orders – signed a deal with Lotte Shopping to develop the South Korean retailer’s online business. It’s a good thing robots don’t need to eat, or this could end badly.
Airbnb (DOG)
ABNB - Nasdaq
Bad: Discovering that the two-bedroom condo unit across the hall just got listed on Airbnb and there are 100 drunk people partying inside. Worse: Investing in Airbnb’s shares. Even as the short-term lodging platform reported third-quarter revenue growth and earnings ahead of estimates, the company’s fourth-quarter revenue forecast disappointed Wall Street amid headwinds including inflation, a strong U.S. dollar and economic uncertainty. With investors dumping stock, the shares fell faster than a beer bottle tossed from a balcony.