Canada Goose on an upwards trajectory
08/08/2023
Wholesale revenue decreased 18% due to “streamlining of wholesale relationships” as it “optimises for greater direct-to-consumer sales”.
Highlights during the quarter included: its first trainers, the Glacier Trail, extending its footwear category; and an expansion of re-commerce platform Generations to Canada after starting in the US in January.
It also reduced scope 1 and scope 2 carbon emissions by nearly 45% year-over-year by retrofitting manufacturing plants and investing in renewable energy credits; and transitioned over 75% of materials to Preferred Fibres and Materials, including those that are recycled, organic, natural, bio-degradable and plant-based.
The company opened three stores during the quarter: one store in Dublin, one in Las Vegas and one in Washington, bringing total store count to 54.
CEO Dani Reiss said: “We had a strong start to the year, with first quarter results reflecting solid demand for our brand, especially as more customers shop directly with us.
“In the first quarter, we welcomed more new customers across every market into our expanding global retail network, and we continued to see product categories like apparel and accessories resonate with our customers.”
Canada Goose was founded in 1957 in a small warehouse in Toronto, Canada. It also owns Baffin, a brand of performance outdoor and industrial footwear.
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