Canada Goose boosts its growth and registers an increase of 24.2% in the first quarter

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Canada Goose fuels its growth. The Canadian fashion company has closed the first quarter of the fiscal year with sales of 69.9 million Canadian dollars (53 million euros), which has meant an increase in its turnover of 24.2% compared to the same period of 2021.

“The result of the first quarter reflects the solid indicators for the rest of the year; we are seeing encouraging trends in store productivity,” said Dani Reiss, president and CEO of Canada Goose, in a statement.

For the second quarter, the company has made a sales forecast, which will record revenues of between 255 million Canadian dollars (193 million euros) and 275 million (208 million euros), which will mean a year-on-year increase of 20%.

Also, Canada Goose also expects to place its adjusted EBIT between eight million Canadian dollars (six million euros) and 18 million Canadian dollars (13.6 million euros). The company has made the estimates taking into account possible closures related to the Covid-19 in China and operational interruptions on an international scale.

For the entire fiscal year, Canada Goose plans to register a turnover of between 1,300 million Canadian dollars (986.5 million euros) and 1,400 Canadian dollars (1,062 million euros).

Between April and June, the company has boosted its growth thanks to its local market, which has increased its turnover by 80.8%, followed by the United States, with an increase of 68.8%. Europe, the Middle East and Africa (Emea) grew by 37.4% in the period and the Asia-Pacific region was the only region that decreased, with a 28.1% drop in sales, affected by the closures in China .

The channel direct-to-consumerwhich includes the digital channel and establishments managed directly by the company, registered an increase of 19.6%, being the channel that grew the least in the period. The one that evolved the most was the wholesale channel, with an increase of 27.2%.

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