Q1 2025 Canada Goose Holdings Inc Earnings Call Transcript
Key Points
- Canada Goose Holdings Inc (GOOS) reported a 4% year-over-year increase in Q1 revenue, reaching $88.1 million.
- The company saw strong performance in Mainland China, driven by key shopping moments and D2C initiatives.
- Introduction of the first-ever Creative Director, Hyder Acumen, and successful launch of the PBI hoodie campaign featuring Jane Fonda.
- Significant progress in sustainability efforts, including a 6% reduction in Scope 1 and 2 emissions and 80% of materials sourced responsibly.
- Positive developments in the DTC channel, with a 13% increase in sales and strong demand for seasonal products like apparel, wind wear, and footwear.
- DTC comparable sales were down 4.4% year-over-year, primarily due to a shift in product sales mix and softer conversion trends in North America.
- Wholesale revenue decreased by 41% year-over-year, reflecting a planned lower order book and a soft business environment.
- Gross margin declined by 540 basis points to 59.7%, impacted by channel and product mix and the fixed cost base of the new European manufacturing facility.
- Adjusted EBIT loss increased to $96 million from $91.1 million in the same quarter last year, due to lower gross profit and higher costs associated with operating more stores.
- Inventory levels remain high at $484 million, although down 7% year-over-year, indicating ongoing challenges in inventory management.
Ladies and gentlemen, thank you for standing by my name statuary and I will be your conference operator today. Time. I would like to welcome everyone to the Canada Goose First Quarter Fiscal 2020 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone. If you would like to withdraw your question again, press star one. I would now like to turn the conference over to Anna Ramon, Vice President of Investor Relations. Please go ahead.
Thank you, operator, and good morning, everyone. With me are Danny Rees, our Chairman and CEO, Neil Bowden, Chief Financial Officer, Carrie Baker, President of Brand and commercial, and best climber, President of Finance Strategy & Administration.
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