Canada Goose(US:GOOS)2024-08-01 18:15Financial Performance - Total revenue increased by 4% year-over-year to $88.1 million (+3% in constant currency)[6, 11] - DTC revenue increased by 13% year-over-year to $63.1 million (+12% in constant currency)[7, 8] - Wholesale revenue decreased by 41% year-over-year to $16.0 million (down 42% in constant currency) due to planned tightening of supply[7, 8] - Gross margin decreased by 540 basis points to 59.7% in Q1FY25, impacted by the European manufacturing facility, channel mix, and product mix[11] - Net loss attributed to shareholders was $77.4 million[11] Geographic Performance - Asia Pacific revenue increased by 26% year-over-year to $30.8 million (+25% in constant currency), driven by strong growth in Mainland China and Japan[9, 10] - North America revenue decreased by 3% year-over-year to $40.4 million (down 3% in constant currency), with the United States growing by 2% and Canada down 7%[9, 10] - EMEA revenue decreased by 10% year-over-year to $16.9 million (down 11% in constant currency) due to a decline in wholesale revenue[9, 10] Balance Sheet - Inventory decreased by 7% year-over-year to $484.3 million[13, 19] - Net debt was $(765.9) million[13] FY25 Financial Outlook (maintained from May 16, 2024) - Revenue is expected to increase by low-single digits year-over-year, with an approximate 25%/75% distribution split between 1H and 2H of fiscal 2025[14] - Wholesale revenue is expected to decrease 20% year-over-year[14] - Adjusted EBIT is expected to expand approximately 100 basis points versus FY24[14]