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Canada Goose Narrows Quarterly Loss Amid Revenue Gains
['David Moin']
WWD
Canada Goose increased revenues and reduced losses last quarter, a sign the company’s multiyear drive to widen its luxury assortment and tighten cost controls is working.
“I feel really good about the first quarter,” Dani Reiss, chairman and chief executive officer of Canada Goose, told WWD on Thursday.
Direct-to-consumer revenue increased 8.6 percent to $84.8 million, due to a stronger performance in Asia-Pacific and North America.
Prices on some Canada Goose products will be affected and if the duties are implemented as proposed, and assuming no mitigating actions were taken, Canada Goose estimates that the impact to this year’s operating margin would be less than 200 basis points.
Canada Goose opened four stores during the quarter, bringing the store count to 92.