Canada Goose cuts 17% of roles as consumer pullback persists

Spending within the broader luxury sector remains curtailed by China’s slow recovery and an ongoing pullback in consumer spending in the US.

Canada Goose Holdings is cutting 17% of its global corporate workforce as it attempts to support long-term growth amid a slowdown in sales.

The luxury parka retailer’s job cuts follow two quarters of single-digit sales growth after increases of more than 20% the previous two periods. Its shares have tumbled 75% in the last 12 months and fell as much as 3.7% Tuesday in Toronto trading.