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Canada Goose Holdings Inc. reports recurring developments in its premium outerwear business, including quarterly and fiscal results, direct-to-consumer sales, wholesale activity, retail-store execution and e-commerce performance. The company designs, manufactures, distributes and retails outerwear for men, women and children, with revenue reported across DTC, Wholesale and Other categories.
Company updates often address regional performance in North America, Greater China, Asia Pacific and EMEA, along with product-assortment expansion across down-filled and non-down-filled outerwear. News also includes leadership and organizational changes, investor conference participation and other corporate communications tied to the company’s NYSE and TSX-listed shares.
Canada Goose Holdings announced Q3 2023 financial results, reporting revenue of $576.7 million, a 1.6% decline from the previous year, primarily due to COVID-19 disruptions in Mainland China. Despite a 72.2% gross margin, net income fell to $137.5 million, reflecting a 10.8% decrease compared to last year. The company expects total revenue for fiscal 2023 to be $1.175 billion to $1.195 billion, down from a previous outlook of $1.200 billion to $1.300 billion. CEO Dani Reiss expressed optimism about a rebound in Mainland China despite acknowledging challenges in North America.
Canada Goose has launched its recommerce platform, Canada Goose Generations, focusing on sustainability and quality craftsmanship. This platform allows consumers to trade-in pre-loved Canada Goose apparel while shopping for a curated selection of vintage and limited-edition pieces. It emphasizes the brand's commitment to the circular economy, ensuring products can have multiple lifetimes. The initiative is powered by Trove, a leader in branded resale, and will initially operate in the U.S. with plans to expand to Canada later. The launch aligns with Canada Goose's broader Sustainable Impact Strategy.
Canada Goose Holdings Inc. (NYSE: GOOS, TSX: GOOS) has announced its Investor Day scheduled for February 7, 2023, at its Toronto headquarters. The event will highlight the Company's long-term strategic initiatives and financial outlook, featuring presentations and a Q&A session with the executive management team. Starting at 10:00 a.m. ET and concluding by 3:00 p.m., attendance is by invitation only, and pre-registration is required. A live video broadcast will be available on the Investor Relations website, with an archived replay accessible post-event.
Canada Goose Holdings Inc. (NYSE: GOOS) will release its third quarter fiscal year 2023 results, concluding January 1, 2023, on February 2, 2023, before market open. An investor conference call to discuss the results is scheduled for 9:00 AM ET on the same day, accessible via the company's investor website. Established in 1957 in Toronto, Canada Goose is a leading luxury apparel manufacturer focused on performance. With a commitment to sustainable practices encapsulated in its HUMANATURE platform, the company continues to emphasize innovation and craftsmanship across its product lines. Further details will be available on the company’s website.
Canada Goose Holdings Inc. (NYSE:GOOS) announced the approval of a normal course issuer bid (NCIB) by the Toronto Stock Exchange, permitting the repurchase of up to 5,421,685 subordinate voting shares over a twelve-month period, starting November 22, 2022. This buyback represents approximately 10% of the public float, aimed at utilizing excess cash effectively as part of their capital allocation strategy. The NCIB will be executed through TSX and NYSE markets, and the company also established an automatic share purchase plan (ASPP) for the buyback.
Canada Goose has announced a significant humanitarian initiative, donating over 10,000 parkas and jackets, along with $135,000 CAD to UNHCR for support efforts in Ukraine. This contribution aims to aid individuals impacted by the ongoing conflict and harsh winter conditions. The funds were raised by Canada Goose employees to assist in delivering essential relief to displaced people. This follows an earlier donation of $100,000 CAD to UNHCR in March 2022, reinforcing the brand's commitment to humanitarian efforts.
Canada Goose has appointed Jess Johannson as its new Chief Human Resources Officer. Johannson will oversee the company's HR strategy across corporate, manufacturing, and retail sectors, focusing on talent acquisition and employee experience. She brings over 20 years of HR leadership experience from various industries, most recently at Tucows. Dani Reiss, Chairman & CEO, expressed confidence in her ability to enhance the company's culture and support its global expansion. Canada Goose is known for its luxury performance apparel and commitment to sustainability through its HUMANATURE platform.
Canada Goose is expanding its U.S. presence with new permanent stores in Las Vegas and Denver, alongside pop-up locations in Aspen and Detroit. The Las Vegas store at Wynn opens on November 5, and Denver’s location follows in December. These expansions introduce new product categories and exclusive collections, enhancing the brand’s year-round offerings. Customers can experience unique retail features, including a Snow Room demonstrating product functionality in extreme temperatures. This initiative aims to elevate brand visibility and reach diverse audiences.
Canada Goose Holdings (GOOS) reported a 19.0% revenue growth in Q2 2023, totaling $277.2 million, boosted by strong performance in North America and Wholesale in EMEA. The gross margin improved to 59.8%, up 180 basis points, while adjusted EBIT rose 70.1% to $29.6 million. However, net income dropped to $5.0 million, reflecting a 66.7% decline in earnings per share. The company revised its fiscal 2023 guidance, lowering revenue expectations to $1.200-1.300 billion due to ongoing Covid-19 impacts in China and wider macroeconomic uncertainty.
Canada Goose Holdings Inc. (NYSE: GOOS) will release its Q2 fiscal 2023 results on November 2, 2022, before the market opens. A live conference call is scheduled for 9:00 am ET on the same day, accessible via the investor relations page of its website. The archived webcast will be available within two hours post-call, until November 1, 2023. Founded in 1957, Canada Goose is a leading luxury apparel manufacturer, emphasizing quality and sustainability through its HUMANATURE platform.