Feb 1 Reuters Canada Goose Holdings, forecast fourthquarter revenue above analysts39; estimates on Thursday, as the luxury goods maker bets on a sharp rebound in crucial market China to help ride out a slowdown in the U.S.

Shares of the company, whose luxury parkas retail for over 1,000, jumped 10 on the New York Stock Exchange and 8 in Toronto.

Luxury brands including LVMH and Cartier owner Richemont had signaled a bounce back in China in their latest reports, easing investor worries about demand in the region that has emerged as a key growth driver for the industry.

AsiaPacific revenue surged 62 in the third quarter, driven by an improvement in tourism and strong sales during the Singles39; Day in Greater China.

This compares with a 13 rise in the prior quarter, when a postpandemic spending spree failed to materialize.

Still, executives signaled the tough comparisons faced.

China has not been immune to the soft macroenvironment that we have seen globally, Chief Financial Officer Jonathan Sinclair said during the earnings call.

The company faces tougher comparables in January for AsiaPacific and therefore business was somewhat slower.

In terms of the Asia recovery, I think that there is a lot of volatility in the number, said Javier Gonzalez Lastra, luxuryfocused portfolio manager at Tema ETFs.

Revenue from North America fell 14 to C252.4 million. Luxury goods demand in the U.S. has waned as pandemicera savings depleted and living costs remained elevated….