September 26, 2022

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Canada Goose grows by double digits (+24%) despite estimates

Canada Goose grows by double digits (+24%) despite estimates
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Canada Goose Accelerates revenue growth. The Toronto brand posted first-quarter revenue of $69.9 million (€48.7 million at today’s exchange rate), a year-over-year cumulative growth of 24.2%. “The results for the first quarter of fiscal 2023 reflect the first positive indicators for the current year and we have seen encouraging trends in store productivity,” he said. Danny ReyesPresident and CEO of a Canadian company.

The double-digit growth was driven by results from the North American market, which recorded a solid increase of 75%. The EMEA region and Canada also doubled, growing 53% and 80% respectively. The increase in revenue in the domestic market was largely driven by the reopening of stores, while in the U.S. the credit went to direct-to-consumer sales. The EMEA region has benefited from positive momentum due to the retail expansion implemented in the region since the beginning of the year. On the other hand, not surprisingly, profits in the Asia-Pacific region fell by more than 35%. Only in China, in fact, has the brand halved its sales points from 16 to 8.

In addition, revenue from Japan in the first quarter of 2023 was lower as revenue recognition in this market took place following the April 4 agreement. Canada goose japanA joint venture Sasabi League. The agreement replaces an exclusive national distribution agreement between the two companies and lays the foundation for accelerating country growth in the dtc and wholesale segments.

Guidance throughout the year is optimistic. Indeed, the company estimates revenue of 255 to 275 million dollars (194-209 million euros) in the next quarter of 1.3 billion dollars (990 million euros). In this regard, the CEO concluded, “This fall we will open new stores in the world’s most interesting cities and business districts. We will launch new collections designed to evoke brand identity to capture new consumers worldwide,” concluded Reiss. (All rights reserved)

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