Canada Goose, the Toronto-based outerwear brand, has seen its first-quarter revenue go up by 24.2 per cent to £ 45 million.
The quarter saw the brand’s gross profit jump by 39.1 per cent to £ 27.5 million – all thanks to higher revenue and gross margin increase that rose year-on-year by 61.1 per cent.
Owing to expansion of retail network as well as store reopening, the EMEA revenue too rose by 37.4 per cent to clock a good £ 13 million.
While revenue from Canada rose by 80.8 per cent, the same from the US was 68.8 per cent. Asia, however, saw a slump of 28.1 per cent in revenue – expectedly so as many stores were shut down in China during Q1.
Going forward, the brand expects total revenue for FY ’23 to be somewhere between £ 837 million and £ 901 million.
Canada Goose, founded in 1957, markets a wide range of jackets, parkas, vests, hats, gloves, shells and other apparel through various avenues, both wholesale and DTC with their own retail stores.
