If you’re really looking to spoil someone this year, there’s a jacket you might want to try on.
But you’ll have to move fast as they’re flying off the shelves of Burnaby.
Sales of Canada Goose Holdings Inc.’s luxury parkas are on the rise – the shoe launch slated for next week is expected to skyrocket revenues.
In its latest quarterly results released on Friday, the outerwear maker reported increased sales in retail and online stores, while early wholesale orders also boosted revenue.
Canada Goose second quarter revenue reached $ 232.9 million for the three months ended September 26. This is nearly 20% more than $ 194.8 million for the same period last year, which also included a $ 28.8 million increase in revenue from the temporary sale of personal protective equipment. . like masks.
Canada Goose jackets are sold all over Burnaby, including Sporting Life at Amazing Brentwood, as well as Bay stores in Lougheed Town Center and Metropolis in Metrotown.
Revenue also significantly exceeded the $ 206.1 million expected by analysts, according to financial data firm Refinitiv.
“We are seeing strong demand, positive leading indicators and we are very happy with the company as the peak season approaches,” Dani Reiss, president and CEO of Canada Goose, told analysts at a conference call.
The company raised its financial outlook for the remainder of the year, with Reiss expressing confidence in Canada Goose’s first-ever footwear collection.
â€œWe are entering our strongest selling season with the launch of an exciting new category,â€ he said. â€œThe Canada Goose footwear is one of the most important milestones in our more than six-decade history.
- With a report from The Canadian Press