Canada Goose brought in $277.2 million for its second quarter ended on Oct. 2, a 19 per cent increase from the same time a year ago. Read on.
The luxury parka retailer brought in $277.2 million for its second quarter ended on Oct. 2, a 19 per cent increase from the same time a year ago. Adjusted earnings before interest and tax grew 70 per cent to $29.6 million and earnings per share decreased nearly 67 per cent, down to three cents per share.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
Canada Goose expects total revenue between $1.2 billion and $1.3 billion, compared to original guidance of $1.3 billion to $1.4 billion. It also provided guidance for the third quarter, with sales expected to ring in between $580 million to $660 million.Article content China’s zero-COVID policy has had a material impact on the Toronto-based company. Revenues in all other geographies — Canada, the United States and Europe — grew in the quarter but dropped 4.2 per cent in the Asia Pacific region to $56.4 million.‘2020 is the year to help your country’: How luxury parka maker Canada Goose filled a critical need in the pandemic — podcast
Canada Goose generates the majority of its wholesale revenue in the second and third quarter of its fiscal year, while the majority of direct-to-consumer sales get booked in the third and fourth quarter. In fiscal 2022, the middle quarters generated more than 82 per cent of annual wholesale revenues while the third and fourth quarters brought in 85 per cent of DTC revenues for the year.
In the second quarter, the parka maker booked higher revenues in its wholesale segment, up more than 21 per cent to $180.7 million, and growth in the DTC segment, up 15.2 per cent to $94.8 million.
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