Gross profits up 39.1% YoY, EMEA growth fuels revenue increase

  • Canada Goose reports gross profits of $42.7m (£35.3m) for Q1 fiscal 2023, up 39.1% from the same period last year
  • Revenues increased by 24.2% to $69.9m ($57.8m)
  • EMEA revenue growth driven by retail expansion and reopened stores
  • Expected total revenues of $1.3bn (£1bn) to $1.4bn (£1.1bn) for fiscal 2023
  • CEO Dani Reiss looks forward to new store openings and collection launches

Canada Goose has reported a better-than-expected gross profit of $42.7 million (£35.3 million) for the first quarter of fiscal 2023, up 39.1% from $30.7 million (£25.3 million) in the same period last year. Revenues also increased by 24.2% to $69.9 million ($57.8 million. The company attributes its EMEA revenue growth to a significant retail network expansion and stores that were closed due to COVID-19 restrictions in the previous quarter. For fiscal 2023, Canada Goose expects total revenues of $1.3 billion (£1 billion) to $1.4 billion (£1.1 billion), based on improved traffic and lower global disruptions. CEO Dani Reiss is optimistic about upcoming store openings in major cities and collection launches targeting new consumers.

Factuality Level: 10
Factuality Justification: The article provides accurate information about Canada Goose’s financial performance, including gross profits and revenue growth, as well as the company’s outlook for fiscal 2023. It also includes a quote from the CEO that adds context to their expectations for future growth.
Noise Level: 3
Noise Justification: The article provides relevant financial information about Canada Goose’s performance and future expectations, with a focus on the company’s growth and expansion plans. It also includes a quote from the CEO. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: Canada Goose’s stock price may be impacted by the better than expected gross profits and revenue growth, affecting investors and financial markets.
Financial Rating Justification: The article discusses the company’s financial performance, including increased gross profits and revenues, which can have an impact on its stock price and potentially affect investors and financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

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