Canada Goose (GOOS) Q1 2027 earnings summary

Executive summary

• Revenue grew 10.3% year-over-year to $118.9m, with constant currency growth of 8.6% and strong demand for lifestyle products, margin expansion, and double-digit e-commerce growth.

• Adjusted EBIT margin improved to (87.3)% from (98.7)% last year, reducing operating loss to $(103.8)m, marking the strongest Q1 margin since fiscal 2020.

• DTC comparable sales declined 3.2%, offset by robust e-commerce growth across all regions.

• Strategic priorities focused on brand desire, product playbook expansion, and channel productivity are delivering results.

• Four net new stores opened, bringing the permanent store count to 92.

Financial highlights

• Q1 revenue was $118.9m, up 10.3% year-over-year; DTC revenue rose 8.6% to $84.8m, and wholesale revenue surged 66.5% to $29.8m.

• Gross margin expanded by 100 basis points to 62.4%, supported by favorable channel and regional mix.

• Adjusted EBIT loss was $(103.8)m (margin -87.3%), improved from $(125.2)m (-98.7%) last year.

• Adjusted net loss attributable to shareholders was $(86.5)m, or $(0.89) per share, improving from $(88)m loss (CAD 0.91 per share) last year.

• Inventory was $489.9m, up 11% year-over-year, supporting expanded assortment and wholesale demand.

Outlook and guidance

• Fiscal 2027 revenue expected to increase low-single digits year-over-year, with adjusted EBIT margin projected between 11% and 12%.

• Growth drivers include pricing actions, expanded product assortment, larger wholesale order book, and new store openings.

• Margin pressure anticipated in H1 due to increased marketing and logistics investments.

• Guidance assumes no material impact from new U.S. duties effective August 2026, but trade policy remains a risk.

• Gross margin expected to expand, with SG&A declining as a percentage of revenue.