TORONTO — When Dani Reiss took over his family's business, Canada Goose Holdings Inc., in 2001, it had a reputation for clothing made for those needing to...
TORONTO — When Dani Reiss took over his family's business, Canada Goose Holdings Inc., in 2001, it had a reputation for clothing made for those needing to brave the coldest of colds.
“This is sad news for me to share because we have individuals leaving the organization today who were instrumental in making Canada Goose the business it is today, and I am personally grateful to each and every one of them,” read a LinkedIn note the day of the layoff from Reiss, whose grandfather Sam Tick started the company then known as Metro Sportswear Ltd. in 1957.
His remarks, however, came the same day as Canada Goose reported a net loss of $74 million in its first quarter, compared with a net loss a year earlier of $85 million. Canada Goose moved into the market six years ago and its presence there has steadily grown ever since. Its website shows it has 18 stores in Mainland China, two in Hong Kong and one each in Macau and Taipei.
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