Core Viewpoint - Kessler Investment Group has increased its stake in Canada Goose Holdings, indicating confidence in the luxury outerwear market despite recent stock price fluctuations [2][7]. Company Overview - Canada Goose Holdings designs and markets luxury outerwear and apparel, targeting affluent consumers globally through direct and wholesale channels [1][6]. - The company reported a total revenue of $1.04 billion and a net income of $15.01 million for the trailing twelve months (TTM) [5]. Recent Transactions - Kessler Investment Group acquired an additional 379,516 shares of Canada Goose, valued at approximately $5.05 million, increasing its position to 3.7% of its reportable assets under management [2][3]. - This purchase has made Canada Goose the tenth-largest holding in Kessler's portfolio [7]. Stock Performance - As of February 6, 2026, Canada Goose shares were priced at $11.24, reflecting a 14.7% increase over the past year, slightly outperforming the S&P 500 [4][5]. - Following the recent Q3 earnings report, the stock experienced a decline of over 10%, despite a 14% growth in total sales and a 20% increase in North American revenue [10]. Market Position and Strategy - Canada Goose offers a range of performance luxury apparel, including parkas and lightweight jackets, and generates revenue through both direct-to-consumer sales and wholesale distribution [9]. - The company has seen consistent growth in direct-to-consumer sales, marking its fourth consecutive quarter of such growth [10]. Valuation Insights - The stock is currently trading at a valuation of 1.1 times sales and 9 times free cash flow, which is considered attractive for a luxury brand [11]. - The company’s new product categories have seen sales double year over year, indicating strong consumer interest beyond traditional offerings [11].

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]