\n
<\/i>DTC comparable sales1<\/sup> grew 28% year-over-year
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<\/i>Reiterates full year fiscal 2024 guidance<\/i><\/p>\n
TORONTO–(BUSINESS WIRE<\/a>)– \n\u201cWe had a strong start to the year, with first quarter results reflecting solid demand for our brand, especially as more customers shop directly with us,\u201d said Dani Reiss, Chairman and CEO of Canada Goose. \u201cWe remain focused on our growth pillars to drive results over the long-term. In the first quarter, we welcomed more new customers across every market into our expanding global retail network, and we continued to see product categories like apparel and accessories resonate with our customers.\u201d<\/p>\n First Quarter Fiscal 2024 Financial Highlights2<\/sup>:<\/b><\/p>\n Revenue By Segment<\/i><\/p>\n \n\u00a0<\/p>\n<\/td>\n First quarter ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n CAD $ millions<\/b><\/p>\n<\/td>\n July 2, \n\u00a0<\/p>\n<\/td>\n July 3, \n\u00a0<\/p>\n<\/td>\n As reported<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Foreign \n\u00a0<\/p>\n<\/td>\n In constant \n\u00a0<\/p>\n<\/td>\n As reported<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n In constant \nDTC<\/p>\n<\/td>\n \n55.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n60.3 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n54.0 %<\/p>\n<\/td>\n<\/tr>\n \nWholesale<\/p>\n<\/td>\n \n27.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6.1)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6.3)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(18.4) %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(19.0) %<\/p>\n<\/td>\n<\/tr>\n \nOther<\/p>\n<\/td>\n \n1.9<\/p>\n<\/td>\n \n1.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014 %<\/p>\n<\/td>\n<\/tr>\n \nTotal revenue<\/p>\n<\/td>\n \n84.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n69.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.4)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.3 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17.9 %<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Revenue by Geography<\/i><\/p>\n \n\u00a0<\/p>\n<\/td>\n First quarter ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n CAD $ millions<\/b><\/p>\n<\/td>\n July 2, \n\u00a0<\/p>\n<\/td>\n July 3, \n\u00a0<\/p>\n<\/td>\n As reported<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Foreign \n\u00a0<\/p>\n<\/td>\n In constant \n\u00a0<\/p>\n<\/td>\n As reported<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n In constant \nCanada<\/p>\n<\/td>\n \n23.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31.3 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31.3 %<\/p>\n<\/td>\n<\/tr>\n \nUnited States<\/p>\n<\/td>\n \n18.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15.3 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7.6 %<\/p>\n<\/td>\n<\/tr>\n \nNorth America<\/p>\n<\/td>\n \n41.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23.8 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n20.2 %<\/p>\n<\/td>\n<\/tr>\n \nAsia Pacific<\/p>\n<\/td>\n \n24.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.5)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n52.2 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42.9 %<\/p>\n<\/td>\n<\/tr>\n \nEMEA<\/p>\n<\/td>\n \n18.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n20.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.5)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(7.4) %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5.9) %<\/p>\n<\/td>\n<\/tr>\n \nTotal revenue<\/p>\n<\/td>\n \n84.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n69.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.4)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.3 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17.9 %<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Balance Sheet Highlights<\/b><\/p>\n \nInventory was $522.1m for the first quarter ended July 2, 2023, up 3% from the first quarter ended July 3, 2022, with decelerating year-over-year growth compared to the fourth quarter of fiscal 2023. This was due to closer alignment between supply and anticipated demand and moving greater production to our own facilities.<\/p>\n \nDuring the first quarter of fiscal 2024, the Company repurchased 1,156,959 subordinate voting shares for a total cash consideration of $26.3m, ending the quarter with a cash balance of $48.0m, compared with $81.8m at first quarter ended July 3, 2022.<\/p>\n First Quarter Fiscal 2024 Business Highlights<\/b><\/p>\n \nDuring our first quarter, Canada Goose continued to engage consumers through our innovative products and customer experiences. Notable business highlights from our first quarter included the following:<\/p>\n Subsequent to First Quarter Fiscal 2024<\/b><\/p>\n Fiscal 2024 Full Year and Q2 Outlook9<\/sup><\/b><\/p>\n \nThe following outlook constitutes forward-looking information within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. The purpose of this outlook is to provide a description of management’s expectations regarding the Company’s annual financial performance and may not be appropriate for other purposes. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond Canada Goose\u2019s control. Please see “Forward-looking Statements” below for more information.<\/p>\n \nFor fiscal 2024, we expect:<\/p>\n \nFor the second quarter of fiscal 2023, we expect:<\/p>\n \nThis outlook is based on a number of assumptions for fiscal 2024, including the following:<\/p>\n \nOur Q2 fiscal 2024 outlook also assumes:<\/p>\n Conference Call Information<\/b><\/p>\n \nThe Company will host the conference call at 8:30 a.m. Eastern Standard Time on August 3, 2023. The conference call can be accessed by using the following link: https:\/\/register.vevent.com\/register\/BI11ceaedeef0a4e209f37d422f8eb8475<\/a>. After registering, an email will be sent including dial-in details and a unique conference call pin required to join the live call. A live webcast of the conference call will also be available on the investor relations page of the Company’s website at http:\/\/investor.canadagoose.com<\/a>.<\/p>\n About Canada Goose<\/b><\/p>\n \nFounded in 1957 in a small warehouse in Toronto, Canada, Canada Goose (NYSE:GOOS, TSX:GOOS) is a lifestyle brand and a leading manufacturer of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic, ensuring a legacy of functionality is embedded in every product from parkas and rainwear to apparel and accessories. Canada Goose is inspired by relentless innovation and uncompromised craftsmanship, recognized as a leader for its Made in Canada commitment. In 2020, Canada Goose announced HUMANATURE, its purpose platform that unites its sustainability and values-based initiatives, reinforcing its commitment to keep the planet cold and the people on it warm. Canada Goose also owns Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. Visit www.canadagoose.com<\/a> for more information.<\/p>\n Cautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n \nThis press release contains forward-looking statements, including statements relating to our fiscal 2024 full year and first quarter financial outlook, the execution of our proposed strategy including retail footprint expansion and new product offerings, early leading indicators and impacts for ongoing fiscal periods, and our operating performance and prospects. These forward-looking statements generally can be identified by the use of words such as \u201cbelieve,\u201d \u201ccould,\u201d \u201ccontinue,\u201d \u201cexpect,\u201d \u201cestimate,\u201d \u201cmay,\u201d \u201cpotential,\u201d \u201cwould,\u201d \u201cwill,\u201d and other words of similar meaning. Each forward-looking statement contained in this press release, including, without limitation, our fiscal 2024 full year and second quarter financial outlook and the related assumptions included herein is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Our business is subject to substantial risks and uncertainties. Applicable risks and uncertainties include, among others, the impact on our operations of the current global economic conditions and their evolution, and are discussed under \u201cCautionary Note regarding Forward-Looking Statements\u201d and \u201cFactors Affecting our Performance\u201d in our Management’s Discussion and Analysis (“MD&A”) as well as under \u201cRisk Factors\u201d in our Annual Report on Form 20-F for the year ended April 2, 2023. You are also encouraged to read our filings with the SEC, available at www.sec.gov<\/a>, and our filings with Canadian securities regulatory authorities available at www.sedarplus.ca<\/a> for a discussion of these and other risks and uncertainties. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements.<\/p>\n \n\u00a0<\/p>\n Condensed Consolidated Interim Statements of Loss \n\u00a0<\/p>\n<\/td>\n First quarter ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n July 2, July 3, \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Reclassified<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nRevenue<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n84.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n69.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nCost of sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Gross profit<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n55.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nSelling, general & administrative expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n154.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n124.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Operating loss<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(99.7<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(82.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nNet interest, finance and other costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Loss before income taxes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(114.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(88.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nIncome tax recovery<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(29.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(24.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Net loss<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(85.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(63.6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nAttributable to:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nShareholders of the Company<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(81.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(62.4<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nNon-controlling interest<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3.9<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Net loss<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(85.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(63.6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Loss per share attributable to shareholders of the Company<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nBasic and diluted<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.78<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.59<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Condensed Consolidated Statements of Financial Position \n\u00a0<\/p>\n<\/td>\n July 2, July 3, April 2, Assets<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n<\/tr>\n Current assets<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash<\/p>\n<\/td>\n \n48.0<\/p>\n<\/td>\n \n81.8<\/p>\n<\/td>\n \n286.5<\/p>\n<\/td>\n<\/tr>\n \nTrade receivables<\/p>\n<\/td>\n \n50.9<\/p>\n<\/td>\n \n48.2<\/p>\n<\/td>\n \n50.9<\/p>\n<\/td>\n<\/tr>\n \nInventories<\/p>\n<\/td>\n \n522.1<\/p>\n<\/td>\n \n504.7<\/p>\n<\/td>\n \n472.6<\/p>\n<\/td>\n<\/tr>\n \nIncome taxes receivable<\/p>\n<\/td>\n \n6.6<\/p>\n<\/td>\n \n4.8<\/p>\n<\/td>\n \n0.9<\/p>\n<\/td>\n<\/tr>\n \nOther current assets<\/p>\n<\/td>\n \n76.9<\/p>\n<\/td>\n \n52.4<\/p>\n<\/td>\n \n52.3<\/p>\n<\/td>\n<\/tr>\n Total current assets<\/b><\/p>\n<\/td>\n \n704.5<\/p>\n<\/td>\n \n691.9<\/p>\n<\/td>\n \n863.2<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDeferred income taxes<\/p>\n<\/td>\n \n92.5<\/p>\n<\/td>\n \n73.9<\/p>\n<\/td>\n \n67.5<\/p>\n<\/td>\n<\/tr>\n \nProperty, plant and equipment<\/p>\n<\/td>\n \n172.0<\/p>\n<\/td>\n \n110.5<\/p>\n<\/td>\n \n156.0<\/p>\n<\/td>\n<\/tr>\n \nIntangible assets<\/p>\n<\/td>\n \n133.1<\/p>\n<\/td>\n \n134.7<\/p>\n<\/td>\n \n135.1<\/p>\n<\/td>\n<\/tr>\n \nRight-of-use assets<\/p>\n<\/td>\n \n281.3<\/p>\n<\/td>\n \n253.2<\/p>\n<\/td>\n \n291.8<\/p>\n<\/td>\n<\/tr>\n \nGoodwill<\/p>\n<\/td>\n \n62.8<\/p>\n<\/td>\n \n64.7<\/p>\n<\/td>\n \n63.9<\/p>\n<\/td>\n<\/tr>\n \nOther long-term assets<\/p>\n<\/td>\n \n12.3<\/p>\n<\/td>\n \n17.8<\/p>\n<\/td>\n \n12.5<\/p>\n<\/td>\n<\/tr>\n Total assets<\/b><\/p>\n<\/td>\n \n1,458.5<\/p>\n<\/td>\n \n1,346.7<\/p>\n<\/td>\n \n1,590.0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Current liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable and accrued liabilities<\/p>\n<\/td>\n \n178.6<\/p>\n<\/td>\n \n165.6<\/p>\n<\/td>\n \n195.6<\/p>\n<\/td>\n<\/tr>\n \nProvisions<\/p>\n<\/td>\n \n16.3<\/p>\n<\/td>\n \n16.2<\/p>\n<\/td>\n \n21.6<\/p>\n<\/td>\n<\/tr>\n \nIncome taxes payable<\/p>\n<\/td>\n \n9.6<\/p>\n<\/td>\n \n13.2<\/p>\n<\/td>\n \n31.5<\/p>\n<\/td>\n<\/tr>\n \nShort-term borrowings<\/p>\n<\/td>\n \n48.4<\/p>\n<\/td>\n \n30.8<\/p>\n<\/td>\n \n27.6<\/p>\n<\/td>\n<\/tr>\n \nCurrent portion of lease liabilities<\/p>\n<\/td>\n \n75.3<\/p>\n<\/td>\n \n59.9<\/p>\n<\/td>\n \n76.1<\/p>\n<\/td>\n<\/tr>\n Total current liabilities<\/b><\/p>\n<\/td>\n \n328.2<\/p>\n<\/td>\n \n285.7<\/p>\n<\/td>\n \n352.4<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProvisions<\/p>\n<\/td>\n \n34.2<\/p>\n<\/td>\n \n30.2<\/p>\n<\/td>\n \n36.5<\/p>\n<\/td>\n<\/tr>\n \nDeferred income taxes<\/p>\n<\/td>\n \n12.3<\/p>\n<\/td>\n \n18.3<\/p>\n<\/td>\n \n16.4<\/p>\n<\/td>\n<\/tr>\n \nTerm loan<\/p>\n<\/td>\n \n383.0<\/p>\n<\/td>\n \n377.1<\/p>\n<\/td>\n \n391.6<\/p>\n<\/td>\n<\/tr>\n \nLease liabilities<\/p>\n<\/td>\n \n252.6<\/p>\n<\/td>\n \n230.6<\/p>\n<\/td>\n \n258.7<\/p>\n<\/td>\n<\/tr>\n \nOther long-term liabilities<\/p>\n<\/td>\n \n62.6<\/p>\n<\/td>\n \n52.9<\/p>\n<\/td>\n \n56.9<\/p>\n<\/td>\n<\/tr>\n Total liabilities<\/b><\/p>\n<\/td>\n \n1,072.9<\/p>\n<\/td>\n \n994.8<\/p>\n<\/td>\n \n1,112.5<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEquity attributable to shareholders of the Company<\/p>\n<\/td>\n \n381.9<\/p>\n<\/td>\n \n342.4<\/p>\n<\/td>\n \n469.5<\/p>\n<\/td>\n<\/tr>\n \nNon-controlling interests<\/p>\n<\/td>\n \n3.7<\/p>\n<\/td>\n \n9.5<\/p>\n<\/td>\n \n8.0<\/p>\n<\/td>\n<\/tr>\n Total equity<\/b><\/p>\n<\/td>\n \n385.6<\/p>\n<\/td>\n \n351.9<\/p>\n<\/td>\n \n477.5<\/p>\n<\/td>\n<\/tr>\n Total liabilities and equity<\/b><\/p>\n<\/td>\n \n1,458.5<\/p>\n<\/td>\n \n1,346.7<\/p>\n<\/td>\n \n1,590.0<\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Interim Statements of Cash Flows \n\u00a0<\/p>\n<\/td>\n First quarter ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n July 2, July 3, \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n Operating activities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nNet loss<\/p>\n<\/td>\n \n(85.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(63.6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nItems not affecting cash:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n29.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nIncome tax recovery<\/p>\n<\/td>\n \n(29.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(24.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nInterest expense<\/p>\n<\/td>\n \n7.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nForeign exchange (gain) loss<\/p>\n<\/td>\n \n(4.7<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n2.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nGain on disposal of assets<\/p>\n<\/td>\n \n(0.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nShare-based payment<\/p>\n<\/td>\n \n2.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nRemeasurement of put option<\/p>\n<\/td>\n \n8.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nRemeasurement of contingent consideration<\/p>\n<\/td>\n \n(1.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(72.8<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(50.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nChanges in non-cash operating items<\/p>\n<\/td>\n \n(98.9<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(123.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nIncome taxes paid<\/p>\n<\/td>\n \n(30.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(16.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nInterest paid<\/p>\n<\/td>\n \n(7.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(6.7<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Net cash used in operating activities<\/b><\/p>\n<\/td>\n \n(209.3<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(196.9<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Investing activities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nPurchase of property, plant and equipment<\/p>\n<\/td>\n \n(5.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(2.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nInvestment in intangible assets<\/p>\n<\/td>\n \n(0.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(1.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nInitial direct costs of right-of-use assets<\/p>\n<\/td>\n \n(0.3<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(0.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nNet cash inflow from business combination<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Net cash used in investing activities<\/b><\/p>\n<\/td>\n \n(5.7<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(0.9<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Financing activities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nMainland China Facilities borrowings<\/p>\n<\/td>\n \n12.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nJapan Facility borrowings<\/p>\n<\/td>\n \n8.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nTerm loan repayments<\/p>\n<\/td>\n \n(1.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(1.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nSubordinate voting shares purchased and cancelled under NCIB<\/p>\n<\/td>\n \n(27.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nPrincipal payments on lease liabilities<\/p>\n<\/td>\n \n(13.4<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(13.8<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Net cash used in financing activities<\/b><\/p>\n<\/td>\n \n(21.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(6.3<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nEffects of foreign currency exchange rate changes on cash<\/p>\n<\/td>\n \n(2.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(1.8<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nDecrease in cash<\/p>\n<\/td>\n \n(238.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(205.9<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Cash, beginning of period<\/b><\/p>\n<\/td>\n \n286.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n287.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Cash, end of period<\/b><\/p>\n<\/td>\n \n48.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n81.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Non-IFRS Financial Measures and Other Specified Financial Measures<\/b><\/p>\n \nThis press release includes references to certain non-IFRS financial measures such as adjusted EBIT, adjusted net loss and constant currency revenue and certain non-IFRS ratios such as, adjusted EBIT margin, adjusted net loss attributable to shareholders of the Company and adjusted net loss per basic and diluted share attributable to the shareholders of the Company. These financial measures are employed by the Company to measure its operating and economic performance and to assist in business decision-making, as well as providing key performance information to senior management. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the Company\u2019s operating and financial performance. These financial measures are not defined under IFRS nor do they replace or supersede any standardized measure under IFRS. Other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures. Additional information, including definitions and reconciliations of non-IFRS measures to the nearest IFRS measure can be found in our MD&A for the first quarter of fiscal 2024 under \u201cNon-IFRS Financial Measures and Other Specified Financial Measures. Such reconciliations can also be found in this press release under \u201cReconciliation of Non-IFRS Measures\u201d and, in the case of constant currency revenue, under \u201cRevenue\u201d.<\/p>\n \nThis press release also includes DTC comparable sales growth which is a supplementary financial measure defined as sales on a constant currency basis from e-Commerce sites and stores which have been operating for one full year (12 successive fiscal months). The measure excludes store sales from both periods for the specific trading days when the stores were closed, whether those closures occurred in the current period or the comparative period.<\/p>\n Reconciliation of Non-IFRS Measures<\/b><\/p>\n \nThe tables below reconcile net loss to adjusted EBIT and adjusted net loss attributable to shareholders of the Company for the periods indicated. Adjusted EBIT margin is equal to adjusted EBIT for the period presented as a percentage of revenue for the same period.<\/p>\n \nBeginning with the third quarter of fiscal 2023, we no longer include pre-store opening costs in the reconciliation of net loss to adjusted EBIT and adjusted net loss attributable to shareholders of the Company, as we believe these costs are a part of our operating base as we accelerate new store openings. Comparable periods have been restated to reflect this change.<\/p>\n \nBeginning with the first quarter of fiscal 2024, foreign exchange gains and losses related to the term loan, net of hedging, are now reflected in the presentation of net interest, finance and other costs, which was previously presented in SG&A expenses.<\/p>\n \n\u00a0<\/p>\n<\/td>\n First quarter ended<\/b><\/p>\n<\/td>\n CAD $ millions<\/b><\/p>\n<\/td>\n July 2, \n\u00a0<\/p>\n<\/td>\n July 3, Net loss<\/b><\/p>\n<\/td>\n \n(85.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(63.6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Add (deduct) the impact of:<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nIncome tax recovery<\/p>\n<\/td>\n \n(29.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(24.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nNet interest, finance and other costs<\/p>\n<\/td>\n \n14.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Operating loss<\/b><\/p>\n<\/td>\n \n(99.7<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(82.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nNet temporary store closure costs (a)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nHead office transition costs (c)<\/p>\n<\/td>\n \n0.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nJapan Joint Venture costs (e)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nStrategic initiatives (g)<\/p>\n<\/td>\n \n7.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nLegal proceeding costs (h)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nTotal adjustments<\/p>\n<\/td>\n \n8.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Adjusted EBIT<\/b><\/p>\n<\/td>\n \n(91.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(75.9<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Adjusted EBIT margin<\/i><\/p>\n<\/td>\n (107.4<\/i><\/p>\n<\/td>\n )%<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (108.6<\/i><\/p>\n<\/td>\n )%<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n First quarter ended<\/b><\/p>\n<\/td>\n CAD $ millions<\/b><\/p>\n<\/td>\n July 2, \n\u00a0<\/p>\n<\/td>\n July 3, Net loss<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(85.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(63.6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Add (deduct) the impact of:<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nNet temporary store closure costs (a) (b)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nHead office transition costs (c) (d)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nJapan Joint Venture costs (e)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nJapan Joint Venture remeasurement loss on contingent consideration and put option (f)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nStrategic initiatives (g)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nLegal proceeding costs (h)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nUnrealized foreign exchange gain on Term Loan Facility (i)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nDeferred tax adjustment (j)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Total adjustments<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nTax effect of adjustments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.8<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.3<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n Adjusted net loss<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(73.4<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(59.7<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nAdjusted net loss attributable to non-controlling interest (k)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Adjusted net loss attributable to shareholders of the Company<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(73.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(58.8<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \nWeighted average number of basic shares outstanding<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n103,710,762<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n105,234,474<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Adjusted net loss per basic share attributable to shareholders of the Company<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.70<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.56<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(a)<\/p>\n<\/td>\n \n(b)<\/p>\n<\/td>\n \nNet temporary store closure costs incurred in (a) as well as $nil of interest expense on lease liabilities for temporary store closures for the first quarter ended July 2, 2023 (first quarter ended July 3, 2022 – less than $0.1m).<\/p>\n<\/td>\n<\/tr>\n \n(c)<\/p>\n<\/td>\n \nCosts incurred for the corporate head office transition, including depreciation on right-of-use assets.<\/p>\n<\/td>\n<\/tr>\n \n(d)<\/p>\n<\/td>\n \nCorporate head office transition costs incurred in (c) as well as $0.4m of interest expense on lease liabilities for the first quarter ended July 2, 2023 (first quarter ended July 3, 2022 – $0.4m).<\/p>\n<\/td>\n<\/tr>\n \n(e)<\/p>\n<\/td>\n \nCosts incurred in connection with the establishment of the Japan Joint Venture. This is driven by the impact of gross margin that would otherwise have been recognized on the sale of inventory recorded at net realizable value less costs to sell, as well as other costs of establishing the Japan Joint Venture.<\/p>\n<\/td>\n<\/tr>\n \n(f)<\/p>\n<\/td>\n \nChanges to the fair value remeasurement of the contingent consideration and put option liability related to the Japan Joint Venture. During the first quarter ended July 2, 2023, the Company recorded a gain of $(1.0)m and a loss of $8.1m on fair value remeasurement of the contingent consideration and put option, respectively (first quarter ended July 3, 2022 – $nil and $nil, respectively). These gains and losses are included in net interest, finance and other costs within the interim statements of loss.<\/p>\n<\/td>\n<\/tr>\n \n(g)<\/p>\n<\/td>\n \nRelates to engagement fees incurred in connection with our Transformation Program.<\/p>\n<\/td>\n<\/tr>\n \n(h)<\/p>\n<\/td>\n \nCosts for legal proceeding fees including for the defence of class action lawsuits.\u00a0<\/p>\n<\/td>\n<\/tr>\n \n(i)<\/p>\n<\/td>\n \nUnrealized gains and losses on the translation of the term loan from USD to CAD, net of the effect of derivative transactions entered into to hedge a portion of the exposure to foreign currency exchange risk. These costs were previously presented in SG&A expenses, are now reflected in the presentation of net interest, finance and other costs.<\/p>\n<\/td>\n<\/tr>\n \n(j)<\/p>\n<\/td>\n \nDeferred tax adjustment recorded as the result of Swiss tax reform in Canada Goose International AG.<\/p>\n<\/td>\n<\/tr>\n \n(k)<\/p>\n<\/td>\n \n____________________________________________ View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230803957649\/en\/<\/a><\/span><\/p>\n \nInvestors: ir@canadagoose.com KEYWORDS:<\/b> North America Canada<\/p>\n INDUSTRY KEYWORDS:<\/b> Fashion Footwear Retail Luxury Manufacturing Textiles<\/p>\n MEDIA:<\/b><\/p>\n Canada Goose Reports First Quarter Fiscal 2024 Results Revenue increased 21% year-over-year to $84.8 million DTC comparable sales1 grew 28% year-over-year Reiterates full year fiscal 2024 guidance TORONTO–(BUSINESS WIRE)– Canada Goose Holdings Inc. (NYSE, TSX: GOOS), a global performance luxury and lifestyle brand, announced today financial results for the first quarter of fiscal 2024, which ended July 2, 2023. All amounts are in Canadian dollars unless otherwise indicated. \u201cWe had a strong start to the year, with first quarter results reflecting solid demand for our brand, especially as more customers shop directly with us,\u201d said Dani Reiss, Chairman and CEO of Canada Goose. \u201cWe remain focused on our growth pillars to drive results over the long-term. In the first quarter, … <\/p>\n
\nCanada Goose Holdings Inc. (NYSE, TSX: GOOS), a global performance luxury and lifestyle brand, announced today financial results for the first quarter of fiscal 2024, which ended July 2, 2023. All amounts are in Canadian dollars unless otherwise indicated.<\/p>\n\n
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\n \n \n \n \n \n \n \n \n \n
\n<\/b>
2023<\/b><\/p>\n<\/td>\n\n \n
\n<\/b>
2022<\/b><\/p>\n<\/td>\n\n \n \n \n
\n
exchange
\n
impact<\/b><\/p>\n<\/td>\n\n \n
\n
currency8<\/sup><\/b><\/p>\n<\/td>\n\n \n \n \n
\n
currency8<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n
\n<\/b>
2023<\/b><\/p>\n<\/td>\n\n \n
\n
<\/b>2022<\/b><\/p>\n<\/td>\n\n \n \n \n
\n
exchange
\n
impact<\/b><\/p>\n<\/td>\n\n \n
\n
currency8<\/sup><\/b><\/p>\n<\/td>\n\n \n \n \n
\n
currency8<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
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\n \n
\n
<\/b>(unaudited)
\n
<\/b>(in millions of Canadian dollars, except share and per share amounts)<\/p>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n<\/b>
2023<\/b><\/p>\n<\/td>\n\n
\n<\/b>
2022<\/b><\/p>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n
\n
<\/b>(unaudited)
\n
<\/b>(in millions of Canadian dollars)<\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n<\/b>
2023<\/b><\/p>\n<\/td>\n\n
\n<\/b>
2022<\/b><\/p>\n<\/td>\n\n
\n<\/b>
2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n
\n
<\/b>(unaudited)
\n
<\/b>(in millions of Canadian dollars)<\/p>\n<\/td>\n<\/tr>\n\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n<\/b>
2023<\/b><\/p>\n<\/td>\n\n
\n<\/b>
2022<\/b><\/p>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n<\/b>
2023<\/b><\/p>\n<\/td>\n\n \n
\n<\/b>
2022<\/b><\/p>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n<\/b>
2023<\/b><\/p>\n<\/td>\n\n \n
\n<\/b>
2022<\/b><\/p>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n Net temporary store closure costs of $nil were incurred in the first quarter ended July 2, 2023 (first quarter ended July 3, 2022 – $2.2m).<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Calculated as net loss attributable to non-controlling interest within the interim statements of loss of $3.9m less $(3.6)m for the gross margin adjustment and the put option liability and contingent consideration revaluation related to the non-controlling interest within the Japan Joint Venture for the first quarter ended July 2, 2023. Net loss attributable to non-controlling interest within the interim statements of loss of $1.2m less $(0.3)m for the gross margin adjustment and the put option liability and contingent consideration revaluation related to the non-controlling interest within the Japan Joint Venture for the first quarter ended July 3, 2022.<\/td>\n<\/tr>\n<\/table>\n
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1<\/sup> DTC Comparable sales is a supplementary financial measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for more information.
\n
2<\/sup> Comparisons to first quarter ended July 3, 2022.
\n
3<\/sup> Constant currency revenue is a non-IFRS financial measure. See \u201cNon-IFRS Financial Measures and Other Specified Financial Measures\u201d for more information.
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4<\/sup> EMEA comprises Europe, the Middle East, Africa, and Latin America.
\n
5<\/sup> Certain comparative figures have been reclassified to conform with current year presentation. Foreign exchange gains and losses related to the term loan, net of hedging, which were presented in SG&A expenses in the first quarter ended July 3, 2022, are now reflected in the presentation of net interest, finance and other costs.
\n
6<\/sup> Certain comparative figures have been reclassified to conform with current year presentation. Foreign exchange gains and losses related to the term loan, net of hedging, which were presented in SG&A expenses in the first quarter ended July 3, 2022, are now reflected in the presentation of net interest, finance and other costs.
\n
7<\/sup> Adjusted EBIT and adjusted net loss are non-IFRS financial measures, and adjusted net loss attributable to shareholders of the Company and adjusted net loss per basic and diluted share attributable to the shareholders of the Company are non-IFRS financial ratios. See \u201cNon-IFRS Financial Measures and Other Specified Financial Measures\u201d for more information.
\n
8<\/sup> Constant currency revenue is a non-IFRS financial measure. See \u201cNon-IFRS Financial Measures and Other Specified Financial Measures\u201d for more information.
\n
9 <\/sup>The Company is not able to provide, without unreasonable effort, a reconciliation of the guidance for non-IFRS adjusted EBIT and non-IFRS adjusted net income per diluted share to the most directly comparable IFRS measure because the Company does not currently have sufficient data to accurately estimate the variables and individual adjustments included in the most directly comparable IFRS measure that would be necessary for such reconciliations, including (a) income tax related accruals in respect of certain one-time items (b) the impact of foreign currency exchange and (c) non-recurring expenses that cannot reasonably be estimated in advance. These adjustments are inherently variable and uncertain and depend on various factors that are beyond the Company’s control and as a result it is also unable to predict their probable significance. Therefore, because management cannot estimate on a forward-looking basis without unreasonable effort the impact these variables and individual adjustments will have on its reported results in accordance with IFRS, it is unable to provide a reconciliation of the non-IFRS measures included in its fiscal 2024 guidance.<\/p>\n<\/p>\n
\n<\/a>
Media: media@canadagoose.com<\/a><\/p>\n\n","protected":false},"excerpt":{"rendered":"