— DTC revenue jumped by 28% driven by incremental revenue from new retail stores. Retail revenue in Hong Kong was severely impacted by disruptions to tourism and retail traffic, together with frequent reductions to regular store operating hours and unplanned store closures.
— Wholesale revenue decreased by 8% due to a higher proportion of total order shipments occurring in the first half of fiscal 2020 relative to last year.
— The coronavirus outbreak has a material negative impact on performance in the current fourth-quarter. The health crisis has resulted in a sharp decline in customer traffic and purchasing activity.
— Retail stores and e-commerce across Greater China continue to experience significant reductions in revenue. Due to global travel disruptions, retail stores in international shopping destinations in North America and Europe are also affected.
— For fiscal 2020, the company expects revenue to grow by 13.8-15% to CAD945-955 million while adjusted earnings are set to be in the CAD1.33-1.37 per share range. The consensus estimates EPS of CAD1.68 on revenue of CAD1.03 billion.