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Shares of Canada Goose Holdings Inc. closed down more than 10 per cent on Wednesday after the company failed to soothe investor concerns over its exposure to Hong Kong, acknowledging that the political unrest there is damaging performance.

“The situation has intensified since our last call,” chief executive Dani Reiss said during a morning conference call with analysts and investors, noting that a decline in tourism and retail traffic was affecting the performance of its two locations in the city.

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“We’re watching the situation closely and evaluating actions to streamline our cost base on the ground including negotiating accommodations from landlords.”

Hong Kong has been in turmoil since June when protesters took to the streets in opposition of a proposed bill that would allow extradition to mainland China. Those protests have morphed into increasingly violent clashes with police officers.