Canada · Delayed Price · Currency is CAD Canada Goose Holdings Earnings Call Transcripts
Fiscal Year 2026
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Fiscal 2026 saw double-digit revenue growth, strong D2C and wholesale gains, and improved inventory and cost discipline. Fiscal 2027 guidance calls for low single-digit revenue growth and 130-230 bps EBIT margin expansion, despite macro headwinds and input cost pressures.
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Revenue and gross margin continue to grow, driven by D2C expansion, disciplined marketing, and product innovation. U.S. and China remain strong markets, while Europe is mixed. Margin improvement is expected through operational efficiency, flat marketing spend, and selective price increases.
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Q3 saw 13% revenue growth, led by strong D2C and wholesale gains in North America and Asia Pacific. Adjusted EBIT margin contracted due to higher SG&A and product mix, but margin expansion initiatives are underway for fiscal 2027.
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D2C comparable sales grew 10% year-over-year, with strong momentum in all regions and notable gains in the U.S. and China. Revenue rose 2% to CAD 273 million, while gross margin expanded to 62.4%. Margin pressure from planned investments is expected to ease as peak season progresses.
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Revenue rose 22% year-over-year in Q1, led by strong DTC and wholesale growth, especially in North America and China. Gross margin expanded, inventory declined, and operational improvements boosted store conversion. Management remains confident in sustaining momentum despite macro and trade uncertainties.
Fiscal Year 2025
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The company has evolved into a global luxury brand with strong D2C growth, robust margins, and a focus on product innovation and retail execution. Strategic investments in marketing and operational efficiency are driving momentum, with particular strength in China and improving North America performance.
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Shareholders were updated on strong fiscal 2025 progress, product expansion, and operational improvements. All director nominees were re-elected and Deloitte LLP was reappointed as auditor. Strategic initiatives focused on brand engagement, digital innovation, and inventory discipline.
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Revenue grew 1% to CAD 1.3B in fiscal 2025, with strong D2C expansion and positive same-store sales. Brand heat from new creative direction and product diversification is driving traffic and conversion, while investments focus on marketing, merchandising, and measured store growth.
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Fourth quarter revenue rose 7% year-over-year, led by strong DTC growth and improved inventory efficiency. Gross margin expanded, adjusted EBIT surged 49% in Q4, and net debt leverage improved. No fiscal 2026 guidance was issued due to macro uncertainty, but early Q1 sales momentum remains positive.
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The company is evolving from a parka-focused brand to a diversified luxury retailer, emphasizing direct-to-consumer growth, product innovation, and operational efficiency. Gross margins remain strong, with Haider Ackermann’s creative direction set to influence future collections and category expansion.
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Q3 revenue was CAD 608M, slightly down year-over-year, with DTC growth offset by wholesale decline. Gross margin improved to 74.4%, and the Snow Goose launch drove strong brand momentum. Full-year guidance is maintained, but DTC comp sales outlook is revised lower.
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Q2 revenue declined 5% year-over-year, with DTC comparable sales down 13% and wholesale revenue down 15%, as the company shifted marketing spend to the second half and faced a challenging consumer environment. Inventory and cost management improved, and the launch of the Haider Ackermann capsule and new product categories are expected to drive future growth.
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Q1 FY2025 revenue grew 4% year-over-year, led by strong DTC sales and robust performance in Mainland China and Japan, while wholesale declined as planned. Gross margin fell due to product/channel mix and fixed costs, but inventory and SG&A efficiency improved. FY2025 guidance is maintained.
Fiscal Year 2024
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The company is prioritizing brand evolution, retail execution, and operational simplicity for fiscal 2025, with a focus on expanding non-heavyweight categories and improving store productivity. Despite macroeconomic pressures, strong gross margins and a vertically integrated model support steady margin expansion.
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The meeting highlighted progress in brand evolution, retail execution, and sustainability, with all director nominees re-elected and Deloitte LLP reappointed as auditors. Financial statements for FY2024 were presented, and no Q&A occurred due to lack of shareholder attendance.
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Leadership is focused on margin expansion, operational simplification, and disciplined growth, with a transformation program underway. Product innovation and brand evolution are priorities, supported by a new creative director and enhanced experiential retail. Guidance anticipates modest revenue growth and margin improvement.