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.”