Canada Goose Holdings Inc. has witnessed its second quarter revenue fall by 34 per cent to register C$ 194.8 million.
Despite a slump, it is better than analysts’ predicted C$ 166 million. Notably, the revenue also includes the sale of personal protection equipment.
Mainland China has been the highlight for the parka maker during the quarter, with the retailer witnessing a surge of 30 per cent in direct-to-consumer revenue from the country.
Expressing pleasure over the same, CEO Dani Reiss said that while Mainland China has returned to growth, the retailer’s e-commerce business too has been speeding up in a meaningful way at the right time.
Notably, the retailer saw its digital revenue rise by more than 10 per cent during the quarter.
Here it is important to mention that after a fall of 63 per cent in its Q1 revenue, Canada Goose had expressed its intent to focus more on Mainland China.
Also Read: Canada Goose focuses on China as revenue falls 63% in Q1
While the retailer is happy over its performance in China as well as digital sales, it hasn’t given up on physical stores. The recently expanded store in Toronto has been getting good response.
Meanwhile, the retailer has warned that its sales in Europe may get badly as several European countries have gone into lockdown amidst fresh wave of coronavirus.
Known for its beautiful parkas and jackets, Canada Goose operates 3 factories in Winnipeg, Manitoba and 3 in Toronto.
Apparel Resources had visited its manufacturing unit in Toronto few years back and seen the entire process of jacket manufacturing.
