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Revenue up at Canada Goose, but shares drop

Luxury outwear brand Canada Goose has released full-year results for the year to 31 March, revealing a rise in total revenue of 40.5% year on year to C$830.5m (£486.6m).

This was facilitated by annual revenue growth in every geographical region – up 28.2% in Canada, 36.3% in the United States and 60.5% in the rest of the world.

The proportion of total revenue generated in the rest of the world (34.5%) was in line with Canada (35.3%) for the first time.

Canada Goose said its adjusted EBITDA was C$229.6m (£134.5m), up from to $149.2m (£87.4m) in 2017/18.

However, the company revealed it expects 20% growth over the next three years, compared with 40% growth in the last two years. As a result, Canada Goose “shares notched their worst day on record” yesterday (29 March), the Financial Times reports.

President and CEO Dani Reiss commented: “[Canada Goose] entered the year with a very ambitious agenda of global growth, and we have surpassed it with flying colours.

“We have come a long way in a short time and we have done it the right way – by preserving the purity of our brand and building for the future. I believe that we are still just scratching the surface of our long-term potential.”

 

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