CANADA GOOSE SEES STRONG REVENUE GROWTH IN FIRST QUARTER

Canada Goose Holdings Inc has announced financial results for the first quarter ended June 27, 2021.

Despite tough economic conditions and store closures from COVID-19, the company’s total revenue was $56.3 million, an increase from $26.1 million from its fiscal first quarter last year. Global e-commerce revenue increased by more than 80 percent. Revenue increased significantly in all geographic regions. Gross profit increased substantially to $30.7 million.

On the downside, the outerwear company still posted an operating loss of $60.7 million and its net loss was $56.7 million or 51 cents per diluted share.

“Canada Goose is off to a great start in the first quarter,” said Dani Reiss, president and CEO. “Our digital business continued at a rapid pace of growth globally, alongside improving retail trends. With strong momentum in a less disrupted operating environment, and an exciting product pipeline – including our growing apparel business and footwear launch later this fall – we are well-positioned for fiscal 2022.”