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- Grew total revenue 31.4% with strong growth from Asia Pacific and EMEA2<\/sup> of 65.4% and 27.3%, respectively<\/b><\/li>\n
- Diversified product sales mix to 47.1% non-heavy weight down, up from 45.4%<\/b><\/li>\n
- Expect stronger growth outlook in fiscal 2024 revenue and profitability metrics<\/b><\/li>\n<\/ul>\n
TORONTO–(BUSINESS WIRE<\/a>)–
\nCanada Goose Holdings Inc. (\u201cCanada Goose\u201d or the \u201cCompany\u201d) (NYSE:GOOS, TSX:GOOS) today announced financial results for the fourth quarter ended April 2, 2023 (\u201cQ4 2023\u201d or \u201cQ4 ended April 2, 2023\u201d). All amounts are in Canadian dollars unless indicated.<\/p>\n\n\u201cI am pleased with our fourth quarter results, particularly the strong revenue results generated in Greater China and EMEA,\u201d said Dani Reiss, Chairman and CEO. \u201cThis is a testament to the strength of the brand and this momentum has continued alongside early encouraging results in North America in fiscal 2024 year to date. Lastly, I am excited by the progress our global teams have made in advancing our strategic growth pillars\u2013 to accelerate consumer focused growth, build out DTC, and create new and expand product categories, rapidly. We remain confident in our ability to execute and leverage these pillars, and we continue to build our brand strength to generate profitable growth sustainable over the long term.\u201d<\/p>\n
Strategic Update:<\/b><\/p>\n
\nAs part of its strategic plan to fiscal 2028, the Company intends to execute on the following three strategic growth pillars first introduced at its Investor Day on February 7, 2023:<\/p>\n
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- Accelerate Consumer Focused Growth:<\/b> We have significant opportunity to grow lifetime value of our longstanding and new customers with a focus on women and Gen Z. Through authentic storytelling and unique experiences, we plan to intensify our customer relationship marketing to build stronger connections with our clients and to bring new consumers to our brand. We plan to reallocate marketing investments to drive greater return on investment, conversion and ultimately lifetime value. And in fiscal 2024, we will begin to further unlock our CRM opportunities, leveraging our customer data platform to segment and personalize engagement with our clients through all touchpoints more meaningfully.\n<\/li>\n
- Build our DTC Network<\/b>: We expect to more than double our retail footprint from the 51 permanent stores at the end of Q4 fiscal 2023 by the end of fiscal 2028 while continuing to grow our digital presence, both through Omnichannel and online. In fiscal 2024 we are targeting 16 new permanent store openings, concentrated in Mainland China, the USA and Japan, the vast majority of which we expect to be operational in the second half of the year. As it applies to our store network, we are laser focused on enhancing store performance and we are looking to digital to help support this goal by driving more traffic to the stores, helping our stores to better know and connect with their high value clients and optimizing our inventory allocations around the globe. We will continue to grow our digital presence and enhance our capabilities including Omnichannel.\n<\/li>\n
- Create New and Expand Existing Categories, rapidly:<\/b> We intend to deliver year-round relevance consistent with Canada Goose\u2019s position as a performance luxury lifestyle brand. By the end of fiscal 2023, we diversified our product mix such that non-heavy-weight down sales represented 42.9% up from 38.5% in fiscal 2022. We expect continued growth in all categories including in heavyweight and lightweight down and accelerated growth of newer categories such as rainwear, apparel and footwear as well as the addition of further categories including eyewear, luggage and home. We expect to launch sneakers this summer, targeting the discerning sneakerhead, though broader customers will also enjoy a shoe that can be worn all-year round. And in early fall, new collections of hyper feminine styles, ultra flattering shaping and silhouettes as well as comfortable and new fabrics designed to perfectly transition throughout the fall and winter seasons are anticipated.\n<\/li>\n<\/ol>\n
\nIn the fourth quarter, we launched our Transformation Program to support the strategic pillars described above. This multi-phase program will work to increase operational efficiencies by optimizing production and procurement, developing people and resources, and focusing on our consumers to allow sustainable growth, profitability and long term value.<\/p>\n
Key Fourth Quarter Fiscal 2023 Results3<\/sup><\/b>4<\/b><\/sup><\/p>\n
- Build our DTC Network<\/b>: We expect to more than double our retail footprint from the 51 permanent stores at the end of Q4 fiscal 2023 by the end of fiscal 2028 while continuing to grow our digital presence, both through Omnichannel and online. In fiscal 2024 we are targeting 16 new permanent store openings, concentrated in Mainland China, the USA and Japan, the vast majority of which we expect to be operational in the second half of the year. As it applies to our store network, we are laser focused on enhancing store performance and we are looking to digital to help support this goal by driving more traffic to the stores, helping our stores to better know and connect with their high value clients and optimizing our inventory allocations around the globe. We will continue to grow our digital presence and enhance our capabilities including Omnichannel.\n<\/li>\n
- Diversified product sales mix to 47.1% non-heavy weight down, up from 45.4%<\/b><\/li>\n