Canada Goose, a manufacturer of performance luxury apparel, posted its first quarter (Q1) FY21 sales of $56.3 million (Canadian dollars) which doubled against same period of last year. Direct to consumer (DTC) revenue rose to $29.4 million ($10.4 million), driven by fewer Covid-19 disruptions, e-commerce growth and new retail expansion, despite continued store traffic headwinds.
Canada Goose, a manufacturer of performance luxury apparel, posted its first quarter (Q1) FY21 sales of $56.3 million (Canadian dollars) which doubled against same period of last year. DTC revenue rose to $29.4 million ($10.4 million), driven by fewer Covid-19 disruptions, e-commerce growth and new retail expansion, despite continued store traffic headwinds.#
“Canada Goose is off to a great start in the first quarter,” Dani Reiss, president and CEO at Canada Goose, said in a press release. “Our digital business continued at a rapid pace of growth globally, alongside improving retail trends.”
Canada Goose, a manufacturer of performance luxury apparel, posted its first quarter (Q1) FY21 sales of $56.3 million (Canadian dollars) which doubled against same period of last year. DTC revenue rose to $29.4 million ($10.4 million), driven by fewer Covid-19 disruptions, e-commerce growth and new retail expansion, despite continued store traffic headwinds.#
During Q1 FY21, the company’s global e-commerce revenue surged 80.8 per cent. Despite store closures in the reported period, revenue from all the geographic regions expanded significantly, with Canada gaining 126.1 per cent. DTC revenue from China skyrocketed 188.7 per cent.
Canada Goose, a manufacturer of performance luxury apparel, posted its first quarter (Q1) FY21 sales of $56.3 million (Canadian dollars) which doubled against same period of last year. DTC revenue rose to $29.4 million ($10.4 million), driven by fewer Covid-19 disruptions, e-commerce growth and new retail expansion, despite continued store traffic headwinds.#
Gross profit for the three-month period totalled to $30.7 million ($4.8 million), whereas operating loss was $60.7 million ($59.3 million). The company's net loss widened to $56.7 million ($50.1 million).
Canada Goose, a manufacturer of performance luxury apparel, posted its first quarter (Q1) FY21 sales of $56.3 million (Canadian dollars) which doubled against same period of last year. DTC revenue rose to $29.4 million ($10.4 million), driven by fewer Covid-19 disruptions, e-commerce growth and new retail expansion, despite continued store traffic headwinds.#
According to the premium outerwear maker, its wholesale revenue increased to $25.8 million ($8.7 million) benefitted from higher volume of shipments to wholesale and international distributor partners. Moreover, other revenue dropped to $1.1 million ($7.0 million), attributed to PPE sales in Q1 of FY21.
Canada Goose, a manufacturer of performance luxury apparel, posted its first quarter (Q1) FY21 sales of $56.3 million (Canadian dollars) which doubled against same period of last year. DTC revenue rose to $29.4 million ($10.4 million), driven by fewer Covid-19 disruptions, e-commerce growth and new retail expansion, despite continued store traffic headwinds.#
“With strong momentum in a less disrupted operating environment, and an exciting product pipeline - including our growing apparel business and footwear launch later this fall - we are well positioned for fiscal 2022,” Reiss added.
Fibre2Fashion News Desk (JL)
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