Total revenue of luxury apparel maker Canada Goose in the third quarter (Q3) of fiscal 2022 has increased by 26.5 per cent, excluding $10.7 million of temporary PPE sales in the comparative quarter. Including temporary PPE sales, total revenue increased by 23.6 per cent. In the third quarter of FY22, the company recorded a net income of $151.9 million.

“Canada Goose’s brand momentum and supply chain resilience drove a strong performance in our largest quarter,” said Dani Reiss, president & CEO. “Our digital business continued to exceed last year’s outsized gains, alongside a sharp improvement in retail productivity. We remain confident in our long-term trajectory for revenue growth and margin expansion, notwithstanding the emergence of temporary and unexpected COVID-19 disruptions in certain markets.”

In the reported quarter, DTC revenue was posted at $445.4 million from $299.4 million in the third quarter of previous year. The majority of the increase was driven by higher sales from existing retail stores, complemented by e-commerce growth and retail expansion. Wholesale revenue reduced to $136.7 million in the third quarter of 2022 from $160.8 million. The decrease was a result of earlier order shipment timing relative to fiscal 2021, driven by wholesale partner requests.

For fiscal 2022, the company expects total revenue to be between $1.090 billion to $1.105 billion in 2020, compared to $1.125 billion to $1.175 billion. Non-IFRS adjusted EBIT is likely to be between $165 million to $175 million at an adjusted EBIT margin of 15.1 to 15.8 per cent, compared to $186 million to $208 million at an adjusted EBIT margin of 16.5 to 17.7 per cent.

Fibre2Fashion News Desk (RR)

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