Canada Goose Narrows Quarterly Loss Amid Revenue Growth
Canada Goose reported a narrower quarterly loss amid increased revenue for its first quarter ended June 28. Total revenue rose by 10.3% to $118.9 million, with the operating loss shrinking from $158.7 million to $103.8 million compared to the prior year period. The company attributed this improvement to higher gross profit and reduced expenses across all departments. Chairman and CEO Dani Reiss highlighted strong performance in apparel categories such as rainwear, windwear, and fleece knitwear, which accounted for nearly 40% of revenue last quarter—up from just 5% five years ago. While store traffic in North America declined due to macroeconomic conditions, conversion rates improved significantly. Direct-to-consumer sales grew by 8.6%, driven primarily by Asia-Pacific and North American markets despite a slight decline in comparable-store sales. Wholesaling revenue surged by 66.5% year-over-year, with strong orders from key retailers like Nordstrom and Bloomingdale's.
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