Canada Goose Holdings Inc. announced Thursday financial results for the first quarter of fiscal 2026 ending June 29, 2025 as revenue increased for the retailer.
“We’re off to a strong start, brand heat is rising, and our DTC performance is delivering,” said Dani Reiss, Chairman & CEO of Canada Goose.
“We’re executing with precision, from bold storytelling to smarter retail moves, and it’s showing up in results. I’m optimistic about the momentum we continue to see as we deliver more relevant product and run a tighter, more focused business.”
First Quarter Fiscal 2026 Business Highlights
Notable highlights from its first quarter included the following:
- Launched its Spring-Summer 2025 collection through a highly stylized campaign, featuring styles that embody a fresh aesthetic while staying true to its heritage. Apparel was the fastest growing category within this collection.
- Launched the second Snow Goose capsule with a striking summer campaign set in the deserts of Utah.The expedition featured celebrity guests and other influencers, including its star campaigner Lara Stone. The campaign is building brand momentum, supported by our 360-degree marketing approach, which continues to resonate strongly with consumers.
- Strengthened its presence in key markets, including two temporary store conversions, bringing the total permanent store count to 76.
- Showcased its new store design concept in its newly renovated Amsterdam store with elevated finishes, statement ceiling artwork, and a dedicated VIP space for a more luxurious experience.
- Published its fiscal year 2025 Impact Report , which provides an update on the progress of its sustainable impact strategy.
- Achieved a 9% reduction in Scope 1 emissions and a 25% reduction in Scope 3 emissions year-over-year. It also invested in 10 renewable energy projects to fully match its Scope 2 emission in fiscal 2025.
First Quarter Financial Highlights
All Year-Over-Year Comparisons Unless Noted
- Total revenue increased 22.4% to $107.8m, up 21.5% on a constant currency basis .
- DTC revenue increased 23.8% to$78.1m, or up 22.8% on a constant currency basis driven by DTC comparable sales growth of 14.8% and revenue from non-comparable stores.
- Wholesale revenue increased 11.9% to $17.9m or 11.3% on a constant currency basis primarily due to timing of shipments and increased demand from our wholesale partners.
- Other revenue increased 31.1% to $11.8m or 30.0% on a constant currency basis due to higher number of Friends & Family events.
- Gross profit increased 25.9% to $66.2m. Gross margin for the quarter was 61.4% compared to 59.7% in the first quarter of fiscal 2026 primarily due to higher margin contribution from its European knitwear facility. Pricing, product mix and channel mix did not have a significant impact on a year-on-year basis.
- Selling, general and administrative (SG&A) expenses were $224.9m, compared to $149.5m in the prior year period. The increase in SG&A was primarily driven by a one-time financial award of $43.8m (32.0m USD) resulting from the resolution of an arbitration with a former supplier. Additionally, the company incurred costs to expand the global retail network, increased marketing spend with Spring-Summer 25 and Snow Goose campaigns, and invested in product design and merchandising.
- Operating loss was $(158.7)m, compared to $(96.9)m in the prior year period.
- Net loss attributable to shareholders was $(125.2)m, or $(1.29) per basic and diluted share, compared with a net loss attributable to shareholders of $(77.4)m, or $(0.80) per basic and diluted share in the prior year period.
- Adjusted EBITA was $(106.4)m, compared to $(96.0)m in the prior year period.
- Adjusted net loss attributable to shareholders was $(88.2)m, or $(0.91) per basic and diluted share, compared with an adjusted net less attributed to shareholders of $(76.1)m, or $(0.79) per basic and diluted share in the prior year period.
Balance Sheet Highlights
Inventory of $439.5m for the first quarter ended June 29, 2025, was down 9% year-over-year, reflecting higher demand and its continued proactive approach to managing inventory, said the retailer.
“The Company ended the first quarter of fiscal 2026 with net debt of $541.7m, compared with $765.9m at the end of the first quarter of fiscal 2025. This reduction was mainly due to higher cash balances and lower borrowings from our credit facilities compared to the previous year. We began the fiscal year with a larger cash balance, supported by disciplined working capital management and cash generated from operating activities in recent quarters,” it said.
Related Retail Insider stories:
