Canada Goose posts increase in Q2 revenues and profit

Canada Goose Holdings Inc. total revenue increased by 27.7 percent to 294 million Canadian dollars (221.7 million dollars) for the second quarter, while revenue rose by 28.3 percent on a constant currency basis. The company said, DTC revenue increased to 74.2 million Canadian dollars (55.9 million dollars) and wholesale revenue increased to 219.8 million Canadian dollars (165.7 million dollars), reflecting incremental revenue from Baffin in its peak quarter, which was acquired in November 2018.

“Our performance in the first half reflects the strength of our brand and power of our unique business model. Through global brand equity, selective distribution and operational flexibility, we delivered another set of strong results despite continuing external uncertainties,” said Dani Reiss, the company’s President & CEO in a statement.

Canada Goose reports rise in Q2 net income Net income for the quarter was 60.6 million Canadian dollars (45.7 million dollars) or 0.55 Canadian dollars per diluted share compared to 49.9 million Canadian dollars or 0.45 Canadian dollars per diluted share. Adjusted EBIT was 79.2 million Canadian dollars (59.7 million dollars) compared to 66.5 million Canadian dollars, while adjusted net income was 63.6 million Canadian dollars (47.9 million dollars) or 0.57 Canadian dollars per diluted share compared to 51.1 million Canadian dollars or 0.46 Canadian dollars per diluted share.

Second quarter gross profit was 160.4 million Canadian dollars (120.9 million dollars), a gross margin of 54.6 percent. The company added that increase of 31.9 million Canadian dollars in gross profit was driven by revenue growth in both channels. Operating income was 75.4 million Canadian dollars (56.8 million dollars), an increase of 10.4 million Canadian dollars, again driven by revenue growth in both channels.

Picture:Facebook/Canada Goose