Canada Goose Holdings cut its annual sales forecast on Wednesday, in a sign that a sharp rebound in China was starting to falter and sales in the US stayed under pressure.

While China demand bounced back in the prior two quarters, hopes for a sustained recovery in the market is uncertain.

The company, whose US-listed shares fell 8 percent in pre-market trading, also appointed current Deputy Finance Chief Neil Bowden as CFO. Bowden would succeed Jonathan Sinclair, who has been named president, APAC, effective April 1, 2024.

The Toronto, Ontario-based company expects fiscal 2024 revenue to be between C$1.20 billion ($864.30 million) and C$1.40 billion, compared with its previous forecast of C$1.40 billion to C$1.50 billion.

By Aatrayee Chatterjee; editing by Mrigank Dhaniwala and Shilpi Majumdar

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Canada Goose Sees Weak Q2 as Choppy US Demand Douses China Rebound