Group 1: Financial Performance - Hermès reported a 9% sales growth in Q2, reaching €3.9 billion, with all regions showing growth [15] - Adidas achieved a 7.3% increase in net sales to €12.1 billion, with a significant 70% rise in operating profit to €1.2 billion [2] - Prada's net revenue for H1 reached €2.74 billion, reflecting a 9.1% growth at constant exchange rates [3] - Canada Goose experienced a robust start to the fiscal year with a 22.4% increase in global revenue to CAD 107.8 million [10] - L'Oréal's sales for H1 were €22.47 billion, with a 1.6% growth, and an operating profit margin of 21.1% [9] - SMCP reported a 2.7% increase in sales to €601.1 million, with growth in all regions except Asia [11] Group 2: Management Changes - Kering appointed Luca de Meo as CEO, offering a €20 million signing bonus, which positively impacted the stock price [4] - PUMA appointed Andreas Hubert as COO, aiming to streamline operations by integrating various functions [8] - Arena announced Mark Pinger as the new Chief Brand Officer, effective October 1, 2025 [8] - Jil Sander's CEO Serge Brunschwig resigned after six months in the position [14] Group 3: Brand and Market Insights - The performance of Prada's main brand declined by 1.9%, while Miu Miu surged by 49.2%, indicating a divergence in brand performance [3] - Hermès' leather goods sales grew by 14.8%, while the watch segment faced challenges with a 5.5% decline [15][16] - L'Oréal's digital transformation efforts are beginning to show results, with a growth acceleration from Q1 to Q2 [9] - The luxury market is showing resilience, with brands like Canada Goose capitalizing on strong demand [10]

Core Viewpoint - Canada Goose reported a strong Q1 FY2026 financial performance with a 22.4% year-over-year revenue increase to CAD 107.8 million, surpassing market expectations, driven by significant growth in the Asia-Pacific region and the Greater China market [2][6] Revenue Growth - The direct-to-consumer (DTC) channel saw a revenue increase of 23.8% to CAD 78.1 million, marking seven consecutive months of positive growth, with same-store sales rising by 14.8% [4] - The Asia-Pacific region's overall revenue grew by 26.6%, while the Greater China market revenue increased by 18.7% to CAD 26 million, highlighting strong consumer demand for seasonal products [2][6] - North America experienced a revenue increase of 27.0%, with the U.S. market showing a remarkable growth of 45.4% [6] E-commerce Performance - The e-commerce channel in the Asia-Pacific region performed exceptionally well, with Douyin live streaming significantly boosting sales, enhancing brand confidence for the upcoming peak season [4] - Canada Goose's Douyin account has over 110,000 followers, with nearly 10,000 items sold, including 400 units of the women's pilot jacket priced at 6,400 yuan [4] Product Launches and Inventory - The Emerson short-sleeve T-shirt became the best-selling product, with the Beckley Polo and Chilliwack Fleece jacket also performing well, contributing to the growth of the core outerwear line [6] - Inventory levels decreased by 9% year-over-year by the end of Q1 [6] Sustainability Initiatives - The company reported a 9% and 25% year-over-year reduction in Scope 1 and Scope 3 carbon emissions, respectively, and fully matched Scope 2 emissions through investments in renewable energy projects [8] Financial Losses - Despite revenue growth, the company reported a significant increase in operating losses from CAD 96.9 million to CAD 158.7 million, primarily due to retail network expansion and high marketing expenditures [9] Shareholder Changes - Bain Capital, the majority shareholder, is reportedly considering selling its stake in Canada Goose, which it acquired in 2013 [10]

Financial Data and Key Metrics Changes - Revenue for Q1 fiscal 2026 was CAD 108 million, up 22% year over year on a reported and constant currency basis [12] - Direct-to-consumer (D2C) comparable sales growth was 15%, marking seven consecutive months of positive comps [5][12] - Adjusted net loss attributable to shareholders was CAD 88 million or CAD 0.91 per share, compared to a loss of CAD 76 million or CAD 0.79 per share in the previous year [20] - Gross margin expanded by 170 basis points year over year to 61.4% [18] Business Line Data and Key Metrics Changes - D2C revenue increased to CAD 78 million, up 23%, reflecting the success of the broader D2C strategy [13] - Wholesale revenue achieved an 11% year-over-year increase, with stable performance expected following a channel reset [14] - Apparel was the fastest-growing category in Q1, with significant growth in core outerwear products as well [6] Market Data and Key Metrics Changes - North America revenue was up 27%, driven by strong D2C performance [15] - APAC revenue also increased by 27%, with strong D2C growth in Mainland China, although Japan showed softer trends [16] - EMEA revenue declined slightly year over year due to a planned decrease in wholesale revenue, with low single-digit negative D2C comparable sales growth in the UK [17] Company Strategy and Development Direction - The company is focused on expanding product offerings to enhance year-round relevance and has introduced more new products than ever before [6] - Strategic marketing investments are aimed at building brand momentum, with campaigns that challenge old perceptions and resonate with consumers [7][8] - The company is committed to sustainability, achieving a 9% reduction in Scope 1 emissions and a 25% reduction in Scope 3 emissions in fiscal 2025 [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum built despite an uncertain environment, highlighting major growth opportunities [11] - The company is focused on operational excellence and deepening customer connections, with a strong liquidity position to navigate uncertainties [22][24] - Management acknowledged macroeconomic challenges but emphasized the importance of controlling internal factors to sustain growth [88][93] Other Important Information - Inventory was CAD 440 million, down 9%, marking the seventh consecutive quarter of year-over-year inventory declines [20][21] - The company ended the quarter with CAD 542 million of net debt, a significant improvement from CAD 766 million at the end of the previous fiscal year [22] Q&A Session Summary Question: Drivers of sequential acceleration in comp sales - Management attributed the acceleration to increased marketing investments, a more seasonally relevant product assortment, and improved execution in stores [27][29] Question: Year-on-year SG&A growth expectations - Management indicated that SG&A growth would continue to be driven by strategic investments in marketing and store labor, with a disciplined approach to discretionary spending [32][34] Question: Performance in China and APAC - Management expressed satisfaction with performance in China, attributing success to effective marketing and product availability, while noting softer trends in Japan [40][42] Question: Newness in product offerings - Management highlighted a significant increase in new product introductions, aiming to nearly double the amount of newness to enhance year-round relevance [43][45] Question: SG&A increase drivers - Management noted that the bulk of SG&A growth was due to investments in marketing, product creation, and store labor, while maintaining lean controllable expenses [80][82] Question: DTC performance sustainability - Management expressed confidence in the sustainability of DTC performance, citing strong execution and positive consumer engagement [90][91] Question: Wholesale business growth potential - Management acknowledged the potential for wholesale growth but emphasized a cautious approach, focusing on stability and long-term relationships with strategic partners [96][99]

Company Performance - Canada Goose reported a quarterly loss of $0.66 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.62, and compared to a loss of $0.58 per share a year ago, indicating a decline in performance [1] - The company posted revenues of $77.91 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 14.02% and showing an increase from year-ago revenues of $64.39 million [2] - Over the last four quarters, Canada Goose has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Movement and Outlook - Canada Goose shares have increased by approximately 27.1% since the beginning of the year, outperforming the S&P 500's gain of 8.2% [3] - The future stock price movement will largely depend on management's commentary during the earnings call and the earnings outlook for the upcoming quarters [3][4] - The current consensus EPS estimate for the coming quarter is -$0.05 on revenues of $201.31 million, and for the current fiscal year, it is $0.84 on $1 billion in revenues [7] Industry Context - The Retail - Apparel and Shoes industry, to which Canada Goose belongs, is currently ranked in the bottom 17% of over 250 Zacks industries, which may negatively impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the industry outlook can significantly affect Canada Goose's stock performance [5][8]

Financial Performance - Canada Goose beat revenue estimates [1] Sales Performance - Higher direct-to-consumer sales contributed to the revenue beat [1]

[Condensed Consolidated Interim Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Interim%20Financial%20Statements) This section provides an overview of the company's interim financial performance, position, and cash flows [Condensed Consolidated Interim Statements of Loss](index=2&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Loss) For the first quarter ended June 29, 2025, Canada Goose Holdings Inc. reported a significant increase in net loss and operating loss compared to the prior year, despite revenue growth, primarily driven by a substantial rise in selling, general & administrative expenses | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | Change (CAD millions) | Change (%) | | :-------------------------------- | :--------------------------------------- | :--------------------------------------- | :--------------------- | :--------- | | Revenue | 107.8 | 88.1 | 19.7 | 22.4% | | Gross profit | 66.2 | 52.6 | 13.6 | 25.9% | | Selling, general & administrative expenses | 224.9 | 149.5 | 75.4 | 50.4% | | Operating loss | (158.7) | (96.9) | (61.8) | 63.8% | | Net loss | (125.5) | (74.0) | (51.5) | 69.6% | | Loss per share (Basic and diluted) | (1.29) | (0.80) | (0.49) | 61.3% | [Condensed Consolidated Interim Statements of Comprehensive Loss](index=3&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Comprehensive%20Loss) The company's comprehensive loss widened in Q1 FY2026, reflecting the increased net loss, partially offset by a higher cumulative translation adjustment gain | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :-------------------------- | :--------------------------------------- | :--------------------------------------- | | Net loss | (125.5) | (74.0) | | Other comprehensive income | 11.5 | 4.2 | | Comprehensive loss | (114.0) | (69.8) | [Condensed Consolidated Interim Statements of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Financial%20Position) As of June 29, 2025, total assets increased year-over-year, driven by higher cash balances, while total liabilities decreased, leading to an increase in total equity | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :-------------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Total assets | 1,530.5 | 1,460.5 | 1,631.9 | | Cash | 180.5 | 61.9 | 334.4 | | Inventories | 439.5 | 484.3 | 384.0 | | Total liabilities | 1,083.9 | 1,105.1 | 1,075.3 | | Total equity | 446.6 | 355.4 | 556.6 | [Condensed Consolidated Interim Statements of Changes in Equity](index=5&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Changes%20in%20Equity) Total equity increased year-over-year, primarily due to share-based payments and other comprehensive income, despite the net loss attributable to shareholders | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | | :--------------------------------------- | :--------------------------- | :--------------------------- | | Balance at period end (Total equity) | 446.6 | 355.4 | | Net loss attributable to shareholders of the Company | (125.2) | (77.4) | | Other comprehensive income | 11.7 | 4.2 | | Share-based payment | 4.0 | 2.3 | [Condensed Consolidated Interim Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Cash%20Flows) Net cash used in operating activities remained stable year-over-year, while net cash used in investing activities decreased. A shift from net cash inflow to outflow in financing activities resulted in a larger overall decrease in cash for the period | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :----------------------------------- | :--------------------------------------- | :--------------------------------------- | | Net cash used in operating activities | (142.8) | (142.9) | | Net cash used in investing activities | (1.3) | (2.3) | | Net cash (used in) from financing activities | (12.0) | 59.7 | | Decrease in cash | (153.9) | (83.0) | | Cash, end of period | 180.5 | 61.9 | [Notes to the Condensed Consolidated Interim Financial Statements](index=7&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) This section provides detailed notes on accounting policies, segment information, and financial risk management [Note 1. The Company](index=7&type=section&id=Note%201.%20The%20Company) Canada Goose Holdings Inc. is a luxury apparel company publicly listed on the TSX and NYSE, with a majority of voting power held by Bain Capital and DTR LLC. The company operates through DTC, Wholesale, and Other segments, and its business is highly seasonal, with peak revenues and cash flows concentrated in later fiscal quarters - Canada Goose designs, manufactures, and sells performance luxury apparel, including down-filled outerwear, jackets, fleece, and accessories[11](index=11&type=chunk) - The company is listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol "GOOS"[12](index=12&type=chunk) - Principal shareholders, Bain Capital and DTR LLC, hold **52.5%** of total shares outstanding and **91.7%** of combined voting power as of June 29, 2025[12](index=12&type=chunk) [Organization](index=7&type=section&id=Organization) This section details the company's product categories and seasonal offerings - The Company's product offerings include various styles of down-filled outerwear, rain and everyday jackets, fleece, vests, apparel, footwear, and accessories for fall, winter, and spring seasons[11](index=11&type=chunk) [Statement of Compliance](index=7&type=section&id=Statement%20of%20compliance) This section outlines the accounting standards used for preparing the interim financial statements and their authorization - Interim Financial Statements are prepared in accordance with IFRS Accounting Standards, specifically IAS 34, Interim Financial Reporting[13](index=13&type=chunk) - The Interim Financial Statements were authorized for issuance by the Board of Directors on July 30, 2025[14](index=14&type=chunk) [Fiscal Year](index=7&type=section&id=Fiscal%20year) This section defines the company's fiscal year structure and reporting cycle - The Company's fiscal year is a 52 or 53-week reporting cycle, with the fiscal year ending on the Sunday closest to March 31. Fiscal 2026 is a 52-week fiscal year[15](index=15&type=chunk) [Operating Segments](index=7&type=section&id=Operating%20segments) This section describes the company's three operating segments: Direct-to-Consumer, Wholesale, and Other - The Company classifies its business into three operating and reportable segments: Direct-to-Consumer (DTC), Wholesale, and Other[16](index=16&type=chunk) - The DTC segment includes sales through e-Commerce platforms (including recommerce) and Company-owned retail stores[16](index=16&type=chunk) - The Wholesale segment comprises sales to retailers, international distributors, and travel retail locations[17](index=17&type=chunk) [Seasonality](index=8&type=section&id=Seasonality) This section explains the seasonal nature of the company's business, impacting revenue and cash flow patterns - The business is seasonal, with a significant portion of Wholesale revenue and operating income realized in the second and third quarters, and DTC revenue and operating income in the third and fourth quarters[20](index=20&type=chunk) - Cash flows from operating activities are typically highest in the third and fourth quarters due to DTC revenue and collection of Wholesale trade receivables[21](index=21&type=chunk) [Note 2. Material Accounting Policy Information](index=8&type=section&id=Note%202.%20Material%20accounting%20policy%20information) The interim financial statements are presented in Canadian dollars under IFRS Accounting Standards, with consistent application of accounting policies from the prior annual statements, except for minor reclassifications. The company is currently evaluating the impact of new IFRS standards, including IFRS 18, which will significantly change financial performance reporting - The Interim Financial Statements are presented in Canadian dollars, the Company's functional and presentation currency[22](index=22&type=chunk) - Management reclassified **$9.8 million** and **$15.2 million** from accounts payable and accrued liabilities to trade receivables as at June 30, 2024 and March 30, 2025, respectively, for sales taxes[24](index=24&type=chunk) [Basis of Presentation](index=8&type=section&id=Basis%20of%20presentation) This section outlines the currency and consistent application of accounting policies for the interim financial statements - Accounting policies and critical accounting estimates from the audited annual financial statements for March 30, 2025, have been applied consistently[22](index=22&type=chunk) [Principles of Consolidation](index=8&type=section&id=Principles%20of%20consolidation) This section describes the consolidation of the company's and its subsidiaries' accounts, eliminating intercompany transactions - The Interim Financial Statements include the accounts of the Company and its subsidiaries, with all intercompany transactions and balances eliminated[25](index=25&type=chunk) [Standards Issued and Not Yet Adopted](index=8&type=section&id=Standards%20issued%20and%20not%20yet%20adopted) This section discusses new IFRS standards, including IFRS 18, and their potential impact on financial reporting - Amendments to IFRS 9 and IFRS 7 (May 2024) clarify financial instrument recognition, derecognition, and disclosure, effective January 1, 2026. The Company is evaluating the impact[28](index=28&type=chunk) - IFRS 18 (April 2024) replaces IAS 1 to improve financial performance reporting, introducing a defined income statement structure and specific disclosure requirements for management-defined performance measures. Effective January 1, 2027, with earlier application permitted. The Company is evaluating the impact[29](index=29&type=chunk) [Note 3. Segment Information](index=9&type=section&id=Note%203.%20Segment%20information) In Q1 FY2026, Canada Goose saw revenue growth across all segments, particularly DTC, but total segment operating loss widened due to a significant increase in corporate expenses. Geographically, North America and Asia Pacific remain the largest revenue contributors, both showing growth - The Company measures segment performance based on revenue and segment operating loss, as utilized by the chief operating decision maker[30](index=30&type=chunk) - Corporate expenses, including marketing and management overhead, significantly increased to **$(127.2) million** in Q1 FY2026 from **$(69.0) million** in Q1 FY2025[33](index=33&type=chunk) [Segment Performance](index=10&type=section&id=Segment%20Performance) This section details revenue and operating loss performance across DTC, Wholesale, and Other segments | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :-------------------------- | :--------------------------------------- | :--------------------------------------- | | **Revenue** | | | | DTC | 78.1 | 63.1 | | Wholesale | 17.9 | 16.0 | | Other | 11.8 | 9.0 | | **Total segment revenue** | **107.8** | **88.1** | | **Operating loss** | | | | DTC | (23.4) | (23.1) | | Wholesale | (3.5) | (4.1) | | Other | (4.6) | (0.7) | | **Total segment operating loss** | **(31.5)** | **(27.9)** | | Corporate expenses | (127.2) | (69.0) | | **Total operating loss** | **(158.7)** | **(96.9)** | | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :--------------------------------------- | :--------------------------------------- | :--------------------------------------- | | Total depreciation and amortization expense | 28.2 | 30.0 | | - DTC | 23.1 | 24.7 | | - Wholesale | 0.8 | 1.0 | | - Other | 0.3 | 0.3 | | - Corporate expenses | 4.0 | 4.0 | [Geographic Information](index=11&type=section&id=Geographic%20information) This section presents revenue and non-current asset distribution across North America, Asia Pacific, and EMEA regions | Region | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :-------------------------------- | :--------------------------------------- | :--------------------------------------- | | Canada | 24.4 | 21.9 | | United States | 26.9 | 18.5 | | **North America** | **51.3** | **40.4** | | Greater China | 26.0 | 21.9 | | Asia Pacific (excluding Greater China) | 13.0 | 8.9 | | **Asia Pacific** | **39.0** | **30.8** | | EMEA | 17.5 | 16.9 | | **Total revenue** | **107.8** | **88.1** | | Region | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :-------------------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Canada | 201.4 | 216.1 | 202.2 | | United States | 107.0 | 134.3 | 118.7 | | **North America** | **308.4** | **350.4** | **320.9** | | Greater China | 49.5 | 72.9 | 60.0 | | Asia Pacific (excluding Greater China) | 47.4 | 43.2 | 47.5 | | **Asia Pacific** | **96.9** | **116.1** | **107.5** | | EMEA | 153.7 | 126.6 | 145.3 | | **Non-current, non-financial assets** | **559.0** | **593.1** | **573.7** | [Note 4. Earnings Per Share](index=12&type=section&id=Note%204.%20Earnings%20per%20share) Basic and diluted loss per share increased significantly in Q1 FY2026 due to a higher net loss attributable to shareholders, despite a slight increase in the weighted average number of shares outstanding. Potentially dilutive shares were excluded as their effect was anti-dilutive | Metric | Q1 FY2026 (June 29, 2025) | Q1 FY2025 (June 30, 2024) | | :--------------------------------------- | :------------------------ | :------------------------ | | Net loss attributable to shareholders of the Company (CAD millions) | (125.2) | (77.4) | | Weighted average number of shares outstanding | 96,913,707 | 96,611,725 | | Loss per share (Basic and diluted) | (1.29) | (0.80) | - **1,544,848** potentially dilutive shares were excluded from the calculation of diluted loss per share for Q1 FY2026 (**1,138,989** shares for Q1 FY2025) because their effect was anti-dilutive[41](index=41&type=chunk) [Note 5. Trade Receivables](index=13&type=section&id=Note%205.%20Trade%20receivables) Trade receivables increased year-over-year, primarily driven by higher trade accounts receivable and sales tax receivables, partially offset by expected credit losses and sales allowances | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :-------------------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Trade accounts receivable | 45.3 | 37.6 | 68.6 | | Sales tax receivables | 24.4 | 21.2 | 22.9 | | Credit card receivables | 3.5 | 2.3 | 4.5 | | Other receivables | 2.3 | 1.4 | 4.5 | | Less: expected credit loss and sales allowances | (2.4) | (2.3) | (2.5) | | **Trade receivables** | **73.1** | **60.2** | **98.0** | [Note 6. Inventories](index=13&type=section&id=Note%206.%20Inventories) Total inventories decreased year-over-year, mainly due to reductions in finished goods and raw materials. The provision for inventory obsolescence also decreased, reflecting improved inventory management or sales | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :--------------------------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Raw materials | 33.2 | 44.6 | 35.7 | | Work in progress | 17.8 | 19.6 | 17.1 | | Finished goods | 388.5 | 420.1 | 331.2 | | **Total inventories** | **439.5** | **484.3** | **384.0** | | Provision for inventory obsolescence | 49.1 | 62.4 | 50.8 | | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :--------------------------------------- | :--------------------------------------- | :--------------------------------------- | | Cost of goods manufactured | 38.6 | 32.8 | | Depreciation and amortization in costs of sales | 3.0 | 2.7 | | **Cost of sales** | **41.6** | **35.5** | [Note 7. Leases](index=14&type=section&id=Note%207.%20Leases) Both right-of-use assets and lease liabilities decreased year-over-year, influenced by lease modifications, derecognitions, and foreign currency translation impacts. The majority of lease payments not included in liabilities relate to short-term leases and variable rent - For Q1 FY2026, **$4.6 million** of lease payments were not included in the measurement of lease liabilities, primarily related to short-term leases and variable rent payments[47](index=47&type=chunk) [Right-of-Use Assets](index=14&type=section&id=Right-of-use%20assets) This section details the net book value, additions, and depreciation of the company's right-of-use assets | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :-------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Net book value | 268.9 | 293.8 | 280.2 | | Additions | 6.4 | 31.0 | N/A | | Depreciation | 20.3 | 20.7 | N/A | [Lease Liabilities](index=15&type=section&id=Lease%20liabilities) This section outlines current and non-current lease liabilities, including principal payments and total obligations | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :-------------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Total lease liabilities | 320.7 | 344.7 | 330.8 | | Current lease liabilities | 84.2 | 82.5 | 83.9 | | Non-current lease liabilities | 236.5 | 262.2 | 246.9 | | Principal payments | (19.4) | (20.8) | N/A | [Note 8. Accounts Payable and Accrued Liabilities](index=16&type=section&id=Note%208.%20Accounts%20payable%20and%20accrued%20liabilities) Accounts payable and accrued liabilities significantly increased year-over-year, primarily due to a one-time arbitration award of **$43.8 million** (USD32.0 million) against the company, which was recognized in SG&A expenses - An arbitration concluded with an unfavorable judgment against the Company, requiring a one-time financial award of **USD32.0 million** (**$43.8 million**) to a former supplier, inclusive of legal costs[49](index=49&type=chunk)[51](index=51&type=chunk) - The **$43.8 million** arbitration award was recorded as an accrued liability and recognized in SG&A expenses in the interim statements of loss[51](index=51&type=chunk) | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :-------------------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Trade payables | 64.7 | 39.9 | 51.4 | | Accrued liabilities | 130.4 | 68.2 | 86.8 | | Employee benefits | 27.0 | 30.5 | 31.6 | | Derivative financial instruments | 4.3 | 1.6 | 2.6 | | Other payables | 10.5 | 13.9 | 14.3 | | **Accounts payable and accrued liabilities** | **236.9** | **154.1** | **186.7** | [Note 9. Provisions](index=17&type=section&id=Note%209.%20Provisions) Total provisions decreased year-over-year, primarily driven by a reduction in sales returns provisions, while warranty provisions remained stable | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :-------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Current provisions | 35.7 | 40.8 | 40.1 | | - Warranty | 27.9 | 28.6 | 29.0 | | - Sales returns | 7.8 | 12.2 | 11.1 | | Non-current provisions | 16.3 | 14.6 | 16.0 | | - Asset retirement obligations | 16.3 | 14.6 | 16.0 | | **Total provisions** | **52.0** | **55.4** | **56.1** | [Note 10. Borrowings](index=17&type=section&id=Note%2010.%20Borrowings) The company's short-term borrowings decreased year-over-year, with no outstanding amounts on the Revolving Facility or Mainland China Facilities as of June 29, 2025. The Term Loan principal amount slightly decreased, while net interest, finance and other costs increased due to changes in foreign exchange and fair value remeasurements - The Company was in compliance with all covenants for its Revolving Facility and Term Loan as at and during the first quarter ended June 29, 2025[56](index=56&type=chunk)[60](index=60&type=chunk) [Revolving Facility](index=17&type=section&id=Revolving%20Facility) This section describes the company's Revolving Facility, its capacity, maturity, and current outstanding borrowings - The Company has a **$467.5 million** Revolving Facility, increasing to **$517.5 million** during peak season (June 1 - November 30), maturing May 15, 2028[54](index=54&type=chunk) - No borrowings outstanding on the Revolving Facility as at June 29, 2025 (June 30, 2024: **$54.3 million**)[56](index=56&type=chunk) - Unused borrowing capacity available under the Revolving Facility was **$271.2 million** as at June 29, 2025 (June 30, 2024: **$335.2 million**)[57](index=57&type=chunk) [Term Loan](index=18&type=section&id=Term%20Loan) This section details the Term Loan's principal amount, repayment schedule, maturity, and outstanding balance - The Term Loan has an aggregate principal amount of **USD300.0 million**, with quarterly repayments of **USD0.75 million** and a maturity date of October 7, 2027[59](index=59&type=chunk) - **USD287.3 million** aggregate principal amount outstanding under the Term Loan as at June 29, 2025 (June 30, 2024: **USD289.5 million**)[60](index=60&type=chunk) | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :------------------------------------------------ | :--------------------------- | :--------------------------- | :---------------------------- | | Term Loan, net of unamortized deferred transaction costs | 392.7 | 395.5 | 412.0 | [Mainland China Facilities](index=18&type=section&id=Mainland%20China%20Facilities) This section outlines the uncommitted loan facilities available to the Mainland China subsidiary and current utilization - A subsidiary in Mainland China has uncommitted loan facilities totaling **RMB560.0 million** (**$106.8 million**)[62](index=62&type=chunk) - No amounts owing on the Mainland China Facilities as at June 29, 2025 (June 30, 2024: **$16.6 million**)[62](index=62&type=chunk) [Japan Facility](index=19&type=section&id=Japan%20Facility) This section describes the loan facility available to the Japan subsidiary and its current outstanding balance - A subsidiary in Japan has a loan facility of **JPY4,000.0 million** (**$37.8 million**)[64](index=64&type=chunk) - **$8.5 million** (**JPY900.0 million**) owing on the Japan Facility as at June 29, 2025 (June 30, 2024: **$16.2 million** (**JPY1,900.0 million**))[64](index=64&type=chunk) [Short-term Borrowings](index=19&type=section&id=Short-term%20Borrowings) This section summarizes the company's short-term borrowing balances from various facilities | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :-------------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Mainland China Facilities | — | 16.6 | — | | Japan Facility | 8.5 | 16.2 | — | | Term Loan | 4.1 | 4.0 | 4.3 | | **Total short-term borrowings** | **12.6** | **36.8** | **4.3** | [Net Interest, Finance and Other Costs](index=19&type=section&id=Net%20interest,%20finance%20and%20other%20costs) This section details components of net interest, finance, and other costs, including foreign exchange and fair value remeasurements | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :------------------------------------------ | :--------------------------------------- | :--------------------------------------- | | Interest expense (Total) | 9.0 | 9.9 | | Foreign exchange (gains) losses on Term Loan net of hedges | (3.5) | 1.7 | | Fair value remeasurement on the put option liability | 1.1 | 2.1 | | Fair value remeasurement on the contingent consideration | (0.1) | (10.7) | | Interest income | (1.6) | (0.3) | | **Net interest, finance and other costs** | **5.4** | **3.2** | [Note 11. Shareholders' Equity](index=20&type=section&id=Note%2011.%20Shareholders'%20equity) Total share capital increased slightly year-over-year, primarily due to the settlement of Restricted Share Units (RSUs). The company did not make any repurchases under its Fiscal 2025 NCIB during the quarter, contrasting with prior year activity which included significant share repurchases and a tax on those repurchases [Share Capital Transactions for Fiscal 2025](index=20&type=section&id=Share%20capital%20transactions%20for%20the%20first%20quarter%20ended%20June%2029,%202025) This section details share capital changes for Q1 FY2026, including RSU settlements and no NCIB repurchases - The Company made no repurchases under the Fiscal 2025 NCIB during the first quarter ended June 29, 2025[70](index=70&type=chunk) | Metric | June 29, 2025 | March 30, 2025 | | :-------------------------------- | :------------ | :------------- | | Total share capital (CAD millions) | 113.3 | 109.6 | | Subordinate voting shares issued (Number) | 233,585 | N/A | | Subordinate voting shares issued (CAD millions) | 3.7 | N/A | [Share Capital Transactions for Fiscal 2024](index=20&type=section&id=Share%20capital%20transactions%20for%20the%20first%20quarter%20ended%20June%2030,%202024) This section details share capital changes for Q1 FY2025, including RSU settlements, NCIB repurchases, and related tax - The Company made no repurchases under the Fiscal 2024 NCIB during the first quarter ended June 30, 2024[74](index=74&type=chunk) - Since the commencement of the Fiscal 2024 NCIB, the Company purchased **3,586,124** subordinate voting shares for **$56.9 million**[74](index=74&type=chunk) - A **$0.6 million** tax on share repurchases was recorded in Q1 FY2025 and charged to retained earnings[75](index=75&type=chunk) | Metric | June 30, 2024 | March 31, 2024 | | :-------------------------------- | :------------ | :------------- | | Total share capital (CAD millions) | 108.8 | 104.9 | | Subordinate voting shares issued (Number) | 198,359 | N/A | | Subordinate voting shares issued (CAD millions) | 3.9 | N/A | [Note 12. Share-Based Payments](index=21&type=section&id=Note%2012.%20Share-based%20payments) Share-based compensation expense increased year-over-year. The company granted more stock options, RSUs, and PSUs in Q1 FY2026 compared to Q1 FY2025, leading to a higher number of outstanding units across all programs - For Q1 FY2026, the Company recorded **$4.1 million** as compensation expense for the vesting of stock options, RSUs, and PSUs (Q1 FY2025: **$2.2 million**), included in SG&A expenses[85](index=85&type=chunk) [Stock Options](index=21&type=section&id=Stock%20options) This section provides details on stock options, including outstanding units, grants, and weighted average exercise prices | Metric | Q1 FY2026 (June 29, 2025) | Q1 FY2025 (June 30, 2024) | | :-------------------------------- | :------------------------ | :------------------------ | | Options outstanding, end of period | 5,873,209 | 4,954,543 | | Granted | 1,151,845 | 770,434 | | Weighted average exercise price (Granted) | $16.82 | $18.98 | | Weighted average fair value of options issued | $5.40 | $6.43 | [Restricted Share Units (RSUs)](index=22&type=section&id=Restricted%20share%20units) This section outlines RSU grants, settlements, outstanding units, and their weighted average fair value - RSUs are treated as equity instruments and vest over three years, with settlement expected through the issuance of one subordinate voting share per RSU[80](index=80&type=chunk) | Metric | Q1 FY2026 (June 29, 2025) | Q1 FY2025 (June 30, 2024) | | :-------------------------------- | :------------------------ | :------------------------ | | RSUs outstanding, end of period | 829,806 | 674,805 | | Granted | 462,184 | 402,440 | | Settled | (233,585) | (171,875) | | Weighted average fair value of RSUs | $16.82 | $18.98 | [Performance Share Units (PSUs)](index=22&type=section&id=Performance%20share%20units) This section details PSU grants, outstanding units, vesting conditions, and weighted average fair value - PSUs vest on the third anniversary of the award date and are earned based on certain performance targets, with shares issued ranging from **0%** to **200%** of the award[81](index=81&type=chunk) | Metric | Q1 FY2026 (June 29, 2025) | Q1 FY2025 (June 30, 2024) | | :-------------------------------- | :------------------------ | :------------------------ | | PSUs outstanding, end of period | 1,160,222 | 717,277 | | Granted | 415,892 | 488,260 | | Weighted average fair value of PSUs | $16.82 | $18.98 | [Shares Reserved for Issuance](index=23&type=section&id=Shares%20reserved%20for%20issuance) This section specifies the maximum number of subordinate voting shares reserved for issuance under equity incentive plans - As of June 29, 2025, a maximum of **2,228,536** subordinate voting shares have been reserved for issuance under equity incentive plans[84](index=84&type=chunk) [Accounting for Share-Based Awards](index=23&type=section&id=Accounting%20for%20share-based%20awards) This section outlines key assumptions for valuing share-based awards, including stock price, interest rate, and volatility | Assumption | Q1 FY2026 (June 29, 2025) | Q1 FY2025 (June 30, 2024) | | :-------------------------- | :------------------------ | :------------------------ | | Weighted average stock price valuation | $16.82 | $18.98 | | Weighted average exercise price | $16.82 | $18.98 | | Risk-free interest rate | 2.69% | 4.17% | | Expected life in years | 5 | 5 | | Expected dividend yield | —% | —% | | Volatility | 40% | 40% | [Note 13. Related Party Transactions](index=23&type=section&id=Note%2013.%20Related%20party%20transactions) The company engages in various related party transactions, including business services, lease liabilities with former controlling shareholders and joint venture partners, and an Earn-Out payment related to the Paola Confectii acquisition. Total expenses and balances owing to related parties increased year-over-year | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :--------------------------------------- | :--------------------------------------- | :--------------------------------------- | | Transactions with related parties | 0.8 | 0.5 | | Balances owing to related parties | 0.5 | 0.4 | | Lease liability due to Baffin Vendor | 1.4 | 2.3 | | Lease liabilities due to Sazaby League (Japan Joint Venture) | 1.4 | 1.6 | | Earn-Out remuneration costs (Paola Confectii) | 8.5 | 0.9 | - The Earn-Out remuneration costs for the Paola Confectii business combination are based on an estimated value of **$23.0 million**, contingent on controlling shareholders remaining employees through November 1, 2025, and meeting certain performance conditions[91](index=91&type=chunk) [Note 14. Financial Instruments and Fair Value](index=25&type=section&id=Note%2014.%20Financial%20instruments%20and%20fair%20value) The company holds various financial instruments, including derivatives, borrowings, and liabilities related to put options and contingent consideration, categorized into Level 2 and Level 3 of the fair value hierarchy. Remeasurement of contingent consideration resulted in a decrease, while the put option liability increased, driven by the progression through their 10-year terms | Metric | June 29, 2025 (CAD millions) | June 30, 2024 (CAD millions) | March 30, 2025 (CAD millions) | | :--------------------------------------- | :--------------------------- | :--------------------------- | :---------------------------- | | Derivatives in other current assets | 10.8 | 14.7 | 24.2 | | Earn-Out in accounts payable and accrued liabilities | 17.6 | 2.3 | 9.0 | | Put option liability in other long-term liabilities | 39.7 | 30.0 | 39.0 | | Contingent consideration in other long-term liabilities | 1.4 | 6.2 | 1.5 | - For Q1 FY2026, the Company recorded a decrease of **$0.1 million** on the remeasurement of contingent consideration and an increase of **$0.7 million** on the remeasurement of the put option liability[96](index=96&type=chunk) - The change in fair value for contingent consideration and put option liability was driven by progression through their 10-year terms[96](index=96&type=chunk) [Note 15. Financial Risk Management Objectives and Policies](index=26&type=section&id=Note%2015.%20Financial%20risk%20management%20objectives%20and%20policies) Canada Goose manages capital, liquidity, credit, and market risks (foreign exchange and interest rate) to protect assets and cash flow. Strategies include maintaining sufficient working capital, utilizing credit facilities, employing credit insurance for receivables, and using forward foreign exchange contracts and interest rate swaps to hedge currency and interest rate exposures - The Company's primary risk management objective is to protect assets and cash flow to increase enterprise value[98](index=98&type=chunk) - The Board of Directors oversees the management of capital, liquidity, credit, market, foreign exchange, and interest rate risks[99](index=99&type=chunk) [Capital Management](index=26&type=section&id=Capital%20management) This section describes the company's objectives for managing capital to ensure working capital and long-term growth resources - The Company manages its capital to safeguard sufficient working capital over the annual operating cycle and provide financial resources for long-term growth[100](index=100&type=chunk) [Liquidity Risk](index=27&type=section&id=Liquidity%20risk) This section outlines how the company manages liquidity to meet operational needs, capital expenditures, and debt service - The Company ensures sufficient liquidity for business operations, capital expenditures, debt service, and general corporate purposes under normal and stressed conditions[101](index=101&type=chunk) - Primary liquidity sources are operating activities, Mainland China Facilities, Japan Facility, and Revolving Facility[101](index=101&type=chunk) | Contractual obligations by fiscal year | Q2 to Q4 2026 (CAD millions) | 2027 (CAD millions) | 2028 (CAD millions) | 2029 (CAD millions) | 2030 (CAD millions) | 2031 (CAD millions) | Thereafter (CAD millions) | Total (CAD millions) | | :------------------------------------ | :--------------------------- | :------------------ | :------------------ | :------------------ | :------------------ | :------------------ | :------------------------ | :------------------- | | Accounts payable and accrued liabilities | 236.9 | — | — | — | — | — | — | 236.9 | | Japan Facility | 8.5 | — | — | — | — | — | — | 8.5 | | Term Loan | 3.0 | 4.1 | 385.9 | — | — | — | — | 393.0 | | Interest commitments relating to borrowings | 23.5 | 31.2 | 15.6 | — | — | — | — | 70.3 | | Lease obligations | 83.4 | 89.5 | 61.6 | 51.7 | 40.7 | 32.1 | 47.3 | 406.3 | | Pension obligation | — | — | — | — | — | — | 0.9 | 0.9 | | **Total contractual obligations** | **355.3** | **124.8** | **463.1** | **51.7** | **40.7** | **32.1** | **48.2** | **1,115.9** | [Credit Risk](index=27&type=section&id=Credit%20risk) This section details the company's strategies for managing credit risk, including credit insurance and customer monitoring - Credit risk is managed through third-party credit insurance and internal monitoring of customer creditworthiness[107](index=107&type=chunk) - Approximately **$9.0 million** of trade accounts receivable were insured as at June 29, 2025 (June 30, 2024: **$12.0 million**), subject to a policy cap of **$30.0 million** per year[107](index=107&type=chunk) - A trade accounts receivable factoring program in Europe was terminated on April 12, 2024, with an immaterial impact[109](index=109&type=chunk) [Market Risk](index=28&type=section&id=Market%20risk) This section describes the company's exposure to market risks, specifically foreign exchange and interest rate fluctuations - Market risk encompasses foreign exchange risk and interest rate risk, which can cause fluctuations in the fair value of future cash flows[111](index=111&type=chunk) [Foreign Exchange Risk](index=28&type=section&id=Foreign%20exchange%20risk) This section details the company's exposure to foreign exchange risk and its use of forward contracts and cash flow hedges - The Company uses forward foreign exchange contracts to reduce foreign exchange risk associated with revenues, purchases, and expenses denominated in currencies such as USD, EUR, GBP, CNY, and JPY[112](index=112&type=chunk) | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :---------------------------------------------------------------- | :--------------------------------------- | :--------------------------------------- | | Net loss on derivatives designated as cash flow hedges (OCI) | (0.1) | 0.1 | | Reclassification of net loss (gain) on cash flow hedges to income (Revenue) | (0.5) | 0.1 | | Reclassification of net loss (gain) on cash flow hedges to income (SG&A expenses) | (0.2) | (0.2) | | Reclassification of net loss (gain) on cash flow hedges to income (Inventory) | (0.1) | — | | Unrealized gains on non-hedge forward contracts (SG&A expenses) | 1.9 | 0.3 | | Unrealized losses on swaps designated as cash flow hedges (OCI) | (1.6) | (1.2) | | Reclassification of losses (gains) from OCI on swaps to net interest, finance and other costs | 0.8 | (0.3) | | Unrealized losses on long-dated forward exchange contract for Term Loan (net interest, finance and other costs) | 14.7 | (2.2) | - The Company entered into a five-year forward exchange contract to fix foreign exchange risk on a portion of the **USD300.0 million** Term Loan, selling **$368.5 million** and receiving **USD270.0 million**[118](index=118&type=chunk) [Interest Rate Risk](index=31&type=section&id=Interest%20rate%20risk) This section outlines the company's interest rate risk exposure on floating-rate debt and mitigation through interest rate swaps - The Company is exposed to interest rate risk on the Japan Facility (**0.93%**) and the Term Loan (**7.94%**)[120](index=120&type=chunk) - Interest rate risk on the Term Loan is partially mitigated by five-year interest rate swap agreements (terminating December 31, 2025) on a notional debt of **USD270.0 million**, with an average fixed rate of **1.76%**[121](index=121&type=chunk) - A **1.00%** increase in interest rates would increase interest expense by less than **$0.1 million** on the Japan Facility and **$1.0 million** on the Term Loan for Q1 FY2026[122](index=122&type=chunk) [Note 16. Selected Cash Flow Information](index=31&type=section&id=Note%2016.%20Selected%20cash%20flow%20information) Changes in non-cash operating items contributed to cash flow, with a significant decrease in inventories and an increase in trade receivables. Financing activities saw a shift from borrowings to repayments and principal payments on lease liabilities, alongside unrealized foreign exchange gains on the Term Loan [Changes in Non-Cash Operating Items](index=31&type=section&id=Changes%20in%20non-cash%20operating%20items) This section details the impact of changes in non-cash operating items, like inventories and trade receivables, on cash flow | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :-------------------------------- | :--------------------------------------- | :--------------------------------------- | | Trade receivables | 24.3 | 10.7 | | Inventories | (57.6) | (39.2) | | Other current assets | (8.6) | (5.5) | | Accounts payable and accrued liabilities | (4.4) | (25.3) | | Provisions | (4.4) | (7.8) | | Other | 21.5 | 4.0 | | **Change in non-cash operating items** | **(29.2)** | **(63.1)** | [Changes in Liabilities and Equity Arising from Financing Activities](index=32&type=section&id=Changes%20in%20liabilities%20and%20equity%20arising%20from%20financing%20activities) This section outlines changes in liabilities and equity from financing activities, including borrowings, repayments, and lease liabilities | Metric | Q1 FY2026 (June 29, 2025) (CAD millions) | Q1 FY2025 (June 30, 2024) (CAD millions) | | :---------------------------------------------------- | :--------------------------------------- | :--------------------------------------- | | Japan Facility borrowings | 8.5 | 10.8 | | Term Loan repayments | (1.1) | (1.0) | | Principal payments on lease liabilities | (19.4) | (20.8) | | Unrealized foreign exchange gain (Term Loan) | (18.3) | 4.0 (loss) | | Additions and amendments to lease liabilities | 13.8 | 33.7 | | Contributed surplus on share issuances | 3.7 | 3.9 |

Core Viewpoint - Canada Goose, once a leading luxury down jacket brand, is facing significant challenges, including a potential sale of shares by its major shareholder Bain Capital, leading to market turbulence [1]. Group 1: Market Performance - Canada Goose experienced a dramatic decline in revenue growth in the Chinese market, dropping from 21.5% to a projected 1.1% for the fiscal year 2025, with a mere 1.0% increase in revenue year-on-year [3]. - The Chinese market, which was once its largest, now shows stark contrast to previous double-digit growth rates [3]. Group 2: Brand Challenges - The brand's image has been severely impacted by negative events, including fines for "false advertising" and controversial policies such as "no returns in mainland China," which have damaged consumer trust [4]. - Increased competition in the high-end down jacket market has emerged, with local brands like Bosideng rising and international brands like Moncler and Arc'teryx gaining market share [4]. - Canada Goose's focus on functionality over fashion and sustainability has led to criticisms of outdated brand image, as consumer preferences shift towards stylish and sustainable designs [5]. Group 3: Consumer Behavior - There is a noticeable shift in consumer attitudes towards more rational purchasing decisions, with "value for money" becoming a key consideration, leading to a decline in blind loyalty to luxury brands [6]. Group 4: Financial and Strategic Adjustments - The company's market value has plummeted over 80% since its peak in 2021, prompting a global workforce reduction of approximately 17% and multiple changes in leadership within the China region [7]. - Bain Capital, which invested $250 million in 2003 and facilitated the company's IPO in 2017, is now seeking an exit after a 12-year investment period, reflecting concerns about the brand's future [7]. - The challenges faced by Canada Goose are indicative of broader adjustments within the luxury goods industry, where rational consumer behavior, intensified competition, and brand missteps are prevalent [7].

Company Performance - Canada Goose (GOOS) closed at $14.34, down 2.65% from the previous trading session, underperforming the S&P 500's daily gain of 0.4% [1] - Over the past month, shares of Canada Goose have increased by 27.09%, significantly outperforming the Retail-Wholesale sector's gain of 4.05% and the S&P 500's gain of 4.61% [1] Upcoming Financial Results - Canada Goose is set to announce its earnings on July 31, 2025, with a forecasted EPS of -$0.62, indicating a 6.9% decline from the same quarter last year [2] - The consensus estimate projects revenue of $68.33 million, reflecting a 6.12% increase from the equivalent quarter last year [2] Full Year Projections - For the full year, the Zacks Consensus Estimates project earnings of $0.84 per share and revenue of $1 billion, representing changes of +5% and +3.15% respectively from the previous year [3] - Recent changes to analyst estimates suggest a favorable outlook on the business health and profitability of Canada Goose [3][4] Valuation Metrics - Canada Goose has a Forward P/E ratio of 17.54, which is in line with the industry average [6] - The company has a PEG ratio of 0.97, compared to the Retail-Apparel and Shoes industry's average PEG ratio of 1.97 [6] Industry Ranking - The Retail-Apparel and Shoes industry, part of the Retail-Wholesale sector, holds a Zacks Industry Rank of 212, placing it within the bottom 15% of over 250 industries [7] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Core Viewpoint - The market anticipates a year-over-year decline in earnings for Canada Goose (GOOS) despite an expected increase in revenues when the company reports its quarterly results for June 2025 [1] Earnings Expectations - Canada Goose is projected to report a quarterly loss of $0.62 per share, reflecting a year-over-year change of -6.9% [3] - Revenues are expected to reach $68.33 million, which is a 6.1% increase from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has been revised down by 25% over the last 30 days, indicating a reassessment by analysts [4] - The Most Accurate Estimate aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [12] Earnings Surprise Prediction - A positive Earnings ESP is a strong indicator of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [10] - Canada Goose currently holds a Zacks Rank of 4, making it challenging to predict an earnings beat [12] Historical Performance - In the last reported quarter, Canada Goose exceeded the expected earnings of $0.16 per share by delivering $0.23, resulting in a surprise of +43.75% [13] - The company has beaten consensus EPS estimates in the last four quarters [14] Market Reaction - The stock may experience upward movement if the actual results exceed expectations, while a miss could lead to a decline [2] - Other factors beyond earnings results may also influence stock performance, as stocks can decline despite an earnings beat or rise despite a miss [15]

Core Viewpoint - Canada Goose (GOOS) is highlighted as a strong investment opportunity with a Zacks Rank of 1 (Strong Buy) and a positive earnings outlook for the current year [1] Company Summary - Canada Goose is a global outerwear brand that specializes in the design, manufacturing, distribution, and retail of premium outerwear for men, women, and children [1] - The Zacks Consensus Estimate for Canada Goose's current year earnings has increased by 2.3% over the last 60 days [1]