Canada Goose Holdings Inc. announced Thursday financial results for the first quarter ended June 28, 2026, saying total revenue increased by 10.3%.
“Our first quarter is another proof point that our strategy is working,” said Dani Reiss, Chairman & CEO of Canada Goose. “We’re successfully evolving Canada Goose into a year-round luxury brand, with customers engaging across more seasons and categories. We expanded gross margin, improved profitability, and deepened engagement around the world. Together, those results are building a stronger, more productive, and more profitable business.”
First Quarter Fiscal 2027 Business Highlights
In the first quarter, it said it advanced initiatives across product, brand, and channels that are strengthening its operating model and positioning the business for sustainable long-term growth.
- Continued to expand year-round relevance with Apparel, Rainwear, and Windwear increasing their contribution to total revenue, supporting customer acquisition and driving engagement beyond traditional winter categories.
- Expanded brand visibility through our Spring/Summer ’26 marketing campaigns, strengthening customer acquisition and expanding brand reach through a more disciplined mix of performance and brand-building investments, including our Snow Goose spring capsule and Natural Intelligence summer collection brand campaigns.
- Further strengthened our DTC operating model, with improvements in conversion and average order value, reflecting continued focus on delivering greater value from its retail network. In the first quarter, it opened four net new stores, bringing the store count to 92 as of the end of our first quarter.
- Subsequent to the first quarter, it published its fiscal 2026 Impact Report, showcasing the progress of its sustainability impact strategy, including a 50% reduction in Scope 1 and Scope 2 emissions from our fiscal 2019 baseline.
First Quarter Financial Highlights
All Year-Over-Year Comparisons Unless Otherwise Noted
- Total revenue increased 10.3% to $118.9m, up 8.6% on a constant currency basis.
- DTC revenue increased 8.6% to $84.8m, or up 6.7% on a constant currency basis due to stronger performance in Asia Pacific and North America. DTC comparable sales decline was 3.2% primarily reflected softer store comparable sales, partially offset by double-digit e-commerce growth.
- Wholesale revenue increased 66.5% to $29.8m, or 65.4% on a constant currency basis driven by shipping a larger planned wholesale order book, stronger in-season orders from wholesale partners, and shipment timing.
- Other revenue decreased 63.6% to $4.3m, or 64.4% on a constant currency basis as a result of minimal friends and family activity in the United States compared to the same prior year period.
- Gross profit increased 12.1% to $74.2m due to higher revenue. Gross margin was 62.4% compared to 61.4% in the first quarter of fiscal 2026, reflecting favourable channel mix and region mix.
- Selling, general and administrative (SG&A) expenses were $178.0m, compared to $224.9m in the prior year period. The decrease is primarily due to non-recurrence of an arbitration award payment and an earn-out associated with our European knitwear manufacturer recognized in the prior year period.
- Operating loss was $(103.8)m, compared to operating loss of $(158.7)m in the prior year period, attributable to higher gross profit and lower SG&A expenses.
- Net loss attributable to shareholders was $(90.8)m, or $(0.93) per basic and diluted share, compared with a net loss attributable to shareholders of $(125.2)m, or $(1.29) per basic and diluted share in the prior year period.
- Adjusted EBIT was $(103.8)m, compared to $(106.4)m in the prior year period. Adjusted EBIT margin 2 was (87.3)%, compared to (98.7)% in the prior year period.
- Adjusted net loss attributable to shareholders was $(86.5)m, or $(0.89) per basic and diluted share, compared with an adjusted net loss attributable to shareholders of $(88.2)m, or $(0.91) per basic and diluted share in the prior year period.
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