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- Canada Goose (GOOS -4.5%) shares fall as the company comes under fire again from China's top consumer protection agency.
- The premium winter jacket maker was blasted on Chinese social media following an incident in which the company allegedly refused to accept a customer return in mainland China citing its policy.
- Canada Goose later denied that it had a no refund policy and said that all products sold at retail stores in mainland China were refundable, but was still criticized by the China Consumer Association. “If you don’t do what you say, regard yourself as a big brand, behave arrogantly and in a superior way, adopt discriminatory policies, be condescending and bully customers, you will for sure lose the trust of consumers and be abandoned by the market,” the organization wrote in an opinion piece. Meanwhile, Chinese state-owned broadcaster CCTV called Canada Goose "arrogant and superior."
- The condemnation comes after the company was fined roughly $71,000 in September by Chinese government regulators for false advertising regarding its down jackets.
- Canada Goose's DTC business in China is one of the company's fastest growing segments, soaring 85.9% in FQ2.