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Canada Goose revenue soars 59.1% to $71.1 mn in Q1 FY 2020

Aug '19
Pic: Canada Goose
Pic: Canada Goose
Total revenue of Canada Goose Holdings soared by 59.1 per cent to $71.1 million in Q1 of FY 2020 from $44.7 million in Q1 of 2019. There was robust growth in every geographic region with revenue increasing by 40.4 per cent in Canada, 15.8 per cent in US and 79.7 per cent in Europe and Rest of World. In Asia, revenue nearly tripled to $18.1 million from $6.6 million.

The Wholesale revenue increased to $36.3 million in Q1 of FY 2020, from $21.5 million in corresponding quarter in last fiscal, said Canada Goose in a press release. This was driven by higher order values from existing partners, coupled with customer requests in Europe and Asia for earlier order shipments relative to last year. It also reflects incremental revenue from Baffin, which was acquired in November 2018.

"Fiscal 2020 is off to a great start with a strong performance in our first quarter, which delivered growth in every geography. As we continue to invest in capacity, we are well positioned to capitalise on the strong demand we see across our business," said Dani Reiss, president & CEO. "The affinity and desire we have seen for our seasonally relevant lightweight offerings tells us our product expansion is working, and combined with the volume of highly engaged consumers looking to get ahead of the upcoming Fall / Winter season, we believe our business has never been stronger as we report our smallest fiscal quarter."

The company reiterates the fiscal 2020 outlook and key assumptions underlying such outlook which were issued on May 29, 2019, in the press release announcing the company's results for Fiscal Year 2019 under the heading 'Fiscal Year 2020 and Long-Term Outlook'.

Canada Goose is one of the world's leading makers of performance luxury apparel. (PC)

Fibre2Fashion News Desk – India

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