Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Canada Goose Boosts Outlook After Quarter Results Beat Estimates

The company boosted its forecast for the year after sales climbed a better-than-expected 50 percent to $301 million, showing flagship stores and online lured in more shoppers for its premium winter clothing.
Source: Canada Goose
By
  • Bloomberg

TORONTO, Canada — Canada Goose boosted its forecast for the year after quarterly results showed flagship stores and online lured in more shoppers for its premium winter clothing. US shares of the Toronto company jumped in early New York trading.

Based on the “strength” of the nine months ended December 31, Canada Goose said revenue will rise in the mid-to-high 30s on a percentage basis, compared with a November forecast of at least 30 percent. Last quarter, sales climbed 50 percent to C$399.3 million ($301 million), topping the C$360 million average of analysts’ estimates.

The outlook may help assuage concerns about the company’s expansion in China, where the brand has been the target of a boycott after a diplomatic row with Canada over the arrest of Huawei’s finance chief. Canada Goose said Thursday that the forecast includes the establishment of its country office in Greater China to “lead market development efforts.”

The company also opened stores in cities including Montreal and Vancouver, British Columbia, during the quarter, helping boost direct-to-consumer sales as the weather grew colder. The quarterly results show that analysts’ initial scans of North America e-commerce sites, which showed many models as sold out or selling fast, were on the mark.

ADVERTISEMENT

Growth in direct-to-consumer sales helped boost margins during the quarter. The company maintained its forecast for Ebitda margins, which exclude items such as taxes and depreciation, to grow 150 percentage points for the fiscal year.

Canada Goose’s US shares soared 5.6 percent in premarket trading in New York.

By Sandrine Rastello; editors: Anne Riley Moffat, Jacqueline Thorpe, Jonathan Roeder.

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Financial Markets
A financial lens on the fast-changing fashion sector, including markets, investors and deals.

The Best of BoF 2023: Diversity’s Litmus Test

In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.


The Year Ahead: The Future of Fashion Deal-Making

For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.


The Investment Giant Behind Some of Fashion’s Biggest Deals

L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024