Clothing company Canada Goose has reported total revenue of C$293.2m ($217.5m) in the fourth quarter (Q4) of fiscal year (FY) 2023, up 31.4% on a reported basis compared to the same period in FY22.
Revenues for the quarter ending 2 April 2023 were driven by strong growth in Asia Pacific and EMEA, which registered 65.4% and 27.3%, respectively.
The company’s DTC segment reports revenue growth of 22.6% while wholesale revenue rose 30.4%, driven by an increase in order value globally.
Gross profit for the quarter was C$190.3m ($141.2m), up 36.2% from the same period in FY22.
Its gross margin declined 420 basis points (bps) to 64.9% in Q4 FY23 from 69.1% a year ago.
The company’s operating income over the quarter was C$17.2m ($12.7m) against C$0.9m ($0.6m) in Q4 FY22.
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Its operating margin rose 5.9% in Q4 FY23 from 0.4% a year ago.
Canada Goose chairman and CEO Dani Reiss said: “I am pleased with our fourth quarter results, particularly the strong revenue results generated in Greater China and EMEA. This is a testament to the strength of the brand and this momentum has continued alongside early encouraging results in North America in fiscal 2024 year to date.
“Lastly, I am excited by the progress our global teams have made in advancing our strategic growth pillars– to accelerate consumer focused growth, build out DTC and create new and expand product categories, rapidly. We remain confident in our ability to execute and leverage these pillars and we continue to build our brand strength to generate profitable growth sustainable over the long term.”
In the Q1 of fiscal 2024 (FY24), Canada Goose expects total revenue of C$70m ($51.9m) to C$80m ($59.3m).
It expects revenue of C$1.400bn ($1.03bn) to C$1.500bn ($1.11bn) in FY24.