Canada Goose pre-tax profits jump 43%

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Canada Goose

Canadian fashion brand Canada Goose has reported soaring revenues in its third quarter, rising nearly a third.

For the quarter to December 31, total revenues at the retailer rose 27.2 per cent to $265.8 million (£192.3 million) while gross profits rose 40.8 per cent to $169 million (£122.2 million).

Total gross profits accounted for 63.6 per cent of total revenue, up from 57.7 per cent a year prior.

This was driven by a huge rise in direct-to-consumer revenue, seeing an 82.7 per cent rise to $131.6 million (£95.1 million) offset slightly by a fall in wholesale revenues, dipping two per cent to $134.2 million (£97 million).

The significant rise in sales was reportedly due to revenue from its four new retail stores and seven new ecommerce sites.

Adjusted EBITDA rose 43.2 per cent to $94.7 million (£68.5 million).

“In our peak selling season, we delivered strong performance across geographies, channels and categories this quarter, reflecting the continued demand for the Canada Goose brand around the world,” chief executive Dani Reiss said.

“Year to date, we added ecommerce sites in seven new markets, opened five new stores across three continents, including our partner operated store in Tokyo, and we successfully added more than 700 employees.”

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