Core Viewpoint - Canada Goose is reportedly exploring a potential sale, with interest from private equity firms and other buyers, amid a backdrop of declining growth and market performance [3][4]. Group 1: Acquisition Rumors - Recent media reports suggest that private equity firms Hillhouse Capital and Bain Capital have expressed verbal interest in acquiring Canada Goose, with an estimated valuation of approximately $1.35 billion [3]. - Other potential buyers include a consortium formed by Bosideng, Anta Sports, and FountainVest Partners, which previously collaborated on acquisitions in the sports sector [3]. Group 2: Financial Performance - For the fiscal year ending March 30, 2025, Canada Goose reported revenues of CAD 1.3484 billion, reflecting a modest year-on-year growth of 1.1%, with the Asia-Pacific market (excluding Greater China) showing significant growth of 31.4% [4]. - Over the past three years, Canada Goose's revenue growth has significantly slowed, dropping from 21.5% to 1.1% [4]. - The company's market capitalization has decreased by over RMB 44 billion, currently standing at approximately RMB 9.7 billion [4]. Group 3: Recent Performance and Strategy - In the first quarter of fiscal 2026, Canada Goose achieved a 22.4% year-on-year revenue increase, reaching CAD 108 million (approximately RMB 561 million), marking the largest growth in nearly nine quarters [4]. - The company has implemented a seasonal strategy to diversify its product offerings beyond winter apparel, introducing items such as sweaters, footwear, and sunglasses, which has helped maintain consumer engagement during off-peak seasons [5].

加拿大鹅被传出售，或是因为其近年相对疲软的市场表现。截至2025年3月30日，Canada Goose加拿大 鹅2025财年营收达13.484亿加元，同比增长1.1%；除大中华区外的亚太市场成为主要增长引擎，同比增 长 31.4%。这份业绩表现不能算差，但从近三年业绩看加拿大鹅增长承压增速放缓。2022-2025财年， 公司营收增速从21.5%大幅滑落至1.1%。 与巅峰期相比，加拿大鹅市值已缩水超440亿元人民币，当前市值约为97亿元人民币。 但加拿大鹅依旧是在赚钱的，且近期业绩亮眼。最新财报显示，2026财年第一季度（截至2025年6月29 日），加拿大鹅全球营收同比增长22.4%至1.08亿加元（约合人民币5.61亿元），为近九个季度以来最 大增幅。其中，大中华区期内实现营收大增18.7%。为此，加拿大鹅在品类拓展、营销活动、渠道扩张 等方面均采取了针对性优化措施。 在非销售旺季增势强劲，很大程度上源于加拿大鹅的四季化战略。加拿大鹅正努力摆脱"冬装代名词"标 签，扩大产品线至毛衣、鞋履、太阳镜等领域，并强化产品和门店陈列的季节相关性。最新财季内，其 新推出的Emerson短袖T恤成为最畅销产品，市场反馈 ...

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]

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]