- Robyn Turk |
Canada Goose Holdings, Inc announced a total revenue increase of 40.5 percent to 830.5 million Canadian dollars (CAD) for its fiscal year ending on March 31, 2019. Net income was 143.6 million CAD, or 1.28 CAD per diluted share.
The company reported an increase of wholesale revenue from 336.2 million to 399.2 million CAD, due to higher order values from existing partners. Canada Goose's revenue from direct to consumer sales increased from 255 million to 431.3 million CAD, accounting for 51.9 percent of the company's total revenue. Last year, direct to consumer sales represented 43.1 percent. Canada Goose attributes this increase to revenue from its five new retail stores and one new e-commerce market.
Dani Reiss, president and CEO, commented, “I am extremely proud of Canada Goose’s many strategic accomplishments in fiscal 2019. We entered the year with a very ambitious agenda of global growth, and we have surpassed it with flying colors. We have come a long way in a short time and we have done it the right way - by preserving the purity of our brand and building for the future. Our business and our people have never been stronger. I believe that we are still just scratching the surface of our long-term potential as we continue to define performance luxury globally.”
Canada Goose noted growth in every geographic region for this fiscal year. Canadian revenue increased by 28.2 percent, revenue in the United States increased by 36.3 percent, and the rest of the world saw a growth of 60.5 percent.