Group 1 - Bain Capital, the controlling shareholder of Canada Goose, is receiving bids to take the company private at a valuation of approximately $1.4 billion, with Goldman Sachs advising on the sale [1] - Private equity firms Boyu Capital and Advent International have made verbal offers valuing Canada Goose at around $1.35 billion, based on eight times its 12-month average EBITDA [2] - Other interested buyers include Bosideng International and a consortium formed by FountainVest Capital and Anta Sports Product, which previously acquired Amer Sports in 2019 [3] Group 2 - Industry watchers suggest that privatizing Canada Goose would provide buyers with greater autonomy to restructure the company without the scrutiny of regular financial disclosures [4] - Bain Capital is delaying a decision until more offers are received, with due diligence expected to take less than two months once a buyer is selected [4] - Canada Goose's shares have increased over 21% this year, raising its market value to $1.18 billion, although this is significantly lower than its 2018 peak of $7.7 billion [5] Group 3 - As of March, Bain Capital owned approximately 60.5% of Canada Goose's multiple voting shares, which provide 10 times the voting power of publicly traded stock, giving Bain 55.5% of the total voting power [6]

Business Strategy - Canada Goose is diversifying its product line to include sweaters, sunglasses, and shoes [1] - The company aims to transform into an all-season brand [1] - The strategy seeks to maintain customer engagement and spending between parka purchases [1]

Financial Data and Key Metrics Changes - Fiscal year 2025 was marked by meaningful progress for Canada Goose, with strong momentum across the brand, retail execution, and operational discipline [1][3] - The company reduced inventory for six consecutive quarters and improved inventory turns while maintaining discipline in selling, general, and administrative expenses [3] Business Line Data and Key Metrics Changes - The apparel category is now the fastest-growing segment, with the introduction of technically advanced rainwear and the first eyewear collection [2] - Strategic channel development led to stronger conversion rates across comparable retail stores and enhanced digital experiences through AI-powered tools [2] Market Data and Key Metrics Changes - The company focused on building brand heat through targeted marketing investments, which resulted in elevated global engagement and commercial results [1][2] Company Strategy and Development Direction - Canada Goose is entering fiscal year 2026 with a focus on long-term value drivers, emphasizing product, brand, and consumer experience [3] - The company aims to expand its product offerings to enhance year-round relevance and is building relevance across seasons and lifestyles [2] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum and strategic execution, highlighting the importance of focused marketing and operational efficiency [1][3] Other Important Information - All dollar amounts referenced in the meeting are in Canadian dollars, and forward-looking statements are subject to risks and uncertainties [11] Q&A Session Questions and Answers - There were no registered shareholders or duly appointed proxy holders present for the Q&A portion of the meeting, leading to its cancellation [26]

Core Insights - Canada Goose reported a strong start in Q1 of fiscal year 2026, achieving a global revenue increase of 22.4% year-over-year to CAD 108 million [1] - The direct-to-consumer (DTC) channel revenue grew by 23.8%, with comparable sales increasing by 14.8%, marking seven consecutive months of positive growth [1] Regional Performance - The Asia-Pacific market saw a revenue increase of 26.6%, supported by both online and offline channels, with Douyin live streaming significantly boosting e-commerce [2] - The Greater China market revenue grew by 18.7%, driven by strong performance in direct channels in mainland China, reflecting robust consumer demand for seasonal products [2] - North American sales increased by 27.0%, establishing a "dual-engine" growth model alongside Greater China [3] Strategic Execution - Canada Goose's growth is attributed to its focus on core strategic areas, including product expansion, marketing innovation, channel optimization, and operational efficiency [3] - The company successfully launched new products, such as the Emerson short-sleeve T-shirt, which became a best-seller, enhancing the overall product lineup [4] Marketing and Channel Development - The marketing strategy emphasized the spring/summer collection and the second season of the Snow Goose line, effectively engaging consumers and enhancing brand loyalty [5] - The company upgraded two temporary stores to specialty stores, increasing the total number of specialty stores to 76 globally, and revamped the Amsterdam flagship store to enhance the high-end retail experience [5] Operational Efficiency - Canada Goose achieved a 9% year-over-year reduction in inventory levels, reflecting effective inventory management and strong market demand [5] Sustainability Initiatives - The company is committed to sustainability, launching a "Moonshots" long-term vision focusing on product circularity, climate-positive initiatives, and community empowerment [6] - 87% of products utilize preferred fibers and materials, with significant advancements in sustainable materials and responsible sourcing practices [7] Carbon Reduction Goals - Canada Goose aims to reduce Scope 1 emissions by 9% and Scope 3 emissions by 25% by 2025, with a commitment to achieving net-zero emissions across the entire value chain by 2050 [9] Social Responsibility - The company has donated over CAD 7.5 million to the Polar Bears International since 2007 and continues to support various community initiatives [11] Conclusion - Canada Goose's strong performance in Q1 of fiscal year 2026 reflects its deep commitment to strategic core areas, product strength, channel effectiveness, and sustainability efforts, positioning the brand for continued growth [12]

Group 1 - The core viewpoint of the article highlights Canada Goose's strong financial performance in Q1 of FY2026, with global revenue increasing by 22.4% year-over-year, driven by direct-to-consumer (DTC) channel growth and new store openings [1] - The DTC channel revenue grew by 23.8% year-over-year, supported by improved same-store performance and increased store traffic conversion rates [1] - The Asia-Pacific region saw a revenue increase of 26.6%, significantly aided by live-streaming sales on Douyin, while the Greater China region's revenue grew by 18.7% due to strong performance in the DTC channel [1] Group 2 - Canada Goose reported that 87% of its products are made from preferred materials, with 89% of fabrics certified by bluesign, and 99% of packaging made from sustainable materials [2] - The company has achieved a 9% reduction in Scope 1 emissions and a 25% reduction in Scope 3 emissions, while investing in renewable energy projects to offset Scope 2 emissions [2] - Canada Goose has engaged in various social responsibility initiatives, including donations exceeding CAD 570,000 to the Polar Bear International Association and hosting resource center events in Northern Canada [2]

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]