September 24, 2022

Wire Service Canada

Complete Canadian News World

Turnover increased by 24 percent in the first quarter

Canada Goose reported a 24.3 percent increase in revenue in the first quarter of the year.

In the three months ended July 3, the company posted 69.9 million Canadian dollars (equivalent to about 48.7 million euros), compared to 56.3 million Canadian dollars in the previous year. In terms of geographic breakdown, revenue grew 80.8 percent in Canada, 68.8 percent in the US, and 37.4 percent in the EMEA region.

The company pointed to an increase in revenue from stores opened in the first quarter compared to the same quarter of the previous year when stores were closed due to measures taken due to the Covid-19 pandemic.

Sales in the Asia-Pacific region fell 28.1 percent as lockdown restrictions continued to affect Chinese stores. However, in June, all stores reopened.

“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,” Canada Goose president and CEO Danny Reiss told investors.

“This fall, we look forward to opening our stores in the world’s most exciting cities and shopping districts, as well as launching our next collections, carefully curated and designed to evoke the warmth of the brand and capture new consumers worldwide”, concluded the CEO.

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