Canada Goose (GOOS) Q4 2025 earnings summary

Executive summary

• Q4 revenue rose 7% year-over-year to $384.6M, driven by strong DTC momentum, improved store execution, and successful marketing campaigns such as Snow Goose, Sea Mantra, and Eyewear launches.

• DTC comparable sales grew 7% in Q4, with North America leading at 17% growth and strong store conversion in the UK and Greater China.

• Achieved key FY25 operating imperatives, including best-in-class retail execution, operational simplification, and disciplined headcount management.

• Inventory was reduced for the sixth consecutive quarter, improving inventory turns and positioning for future product launches.

Financial highlights

• Q4 consolidated revenue reached $384.6M, up 7% (4% constant currency); DTC revenue increased 15.7% to $314.1M, while wholesale declined 23.2% to $31.8M.

• Gross margin expanded by 620 bps to 71.3% in Q4 and 69.9% for the year, up from 65.1% and 68.8% respectively.

• Adjusted EBIT for Q4 was $59.7M, up 49% year-over-year; full-year adjusted EBIT was $171.4M, nearly flat year-over-year.

• Adjusted net income per diluted share was $0.33 in Q4 and $1.12 for the year, up from $0.19 and $0.99 respectively.

• Inventory ended at $384M, down 14% year-over-year; net debt leverage improved to 1.3x adjusted EBITDA from 2.0x.

Outlook and guidance

• No formal financial outlook for FY26 due to macroeconomic and global trade uncertainty, despite positive early FY26 sales momentum.

• Strategic focus on brand heat, product expansion, channel development, and operational efficiency.

• Marketing investment to increase, with a shift to upper-funnel activities and earlier campaign execution.

• Continued product innovation and newness, with Haider Ackermann’s creative vision expanding across collections.