Canada Goose Holdings, a manufacturer of performance luxury apparel, has reported revenue growth to $474.0 million (Canadian dollars) in its third quarter (Q3) FY21, ended on December 27, 2020, compared to revenue of $452.1 million in the same period previous fiscal. Company’s net income for the quarter fell to $107.0 million (Q3 FY20: $118.0 million).
“The global strength of our brand and digital business has returned Canada Goose to growth in our biggest quarter. Through Humanature, we are also rapidly advancing our sustainability and purpose-based commitments,” Dani Reiss, president & CEO at Canada Goose, said in a press release.
Gross profit for the reported quarter rose to $316.4 million ($298.4 million). Selling, general and administrative expenses for Q3 FY21 was $144.7 million ($123.6 million). Company’s operating income was down to $153.3 million ($161.4 million).
Global e-commerce revenue for Canada Goose jumped 39.3 per cent for the reported quarter. DTC revenue was stagnant at $299.4 million ($301.8 million) driven by e-commerce growth and continued store expansion in Mainland China, offset by lower retail revenue due to Covid-19 disruptions globally. Whereas, wholesale revenue was $160.8 million ($145.3 million).
“While we remain in an uncertain world, we are very encouraged by our strong momentum as we finish the fiscal year,” Reiss said.
Fibre2Fashion News Desk (JL)
Canada Goose Holdings, a manufacturer of performance luxury apparel, has reported revenue growth to $474.0 million (Canadian dollars) in its third quarter (Q3) FY21, ended on December 27, 2020, compared to revenue of $452.1 million in the same period previous fiscal. Company's net income for the quarter fell to $107.0 million (Q3 FY20: $118.0 million).