Canadian apparel retailer Canada Goose Holdings Inc. delivered solid revenue growth in fiscal 2022/23. However, the result fell well short of the previous year’s level. This emerges from a current annual report, which the down jacket specialist from Toronto presented on Thursday.
In the past fiscal year, which ended on April 2nd, the company generated sales of 1.22 billion Canadian dollars (835.6 million euros). This corresponded to an improvement of 10.8 percent compared to the previous year.
Thanks to strong increases in China, Canada and Europe, the clothing supplier was able to significantly increase its growth rate in the final quarter (+31.4 percent). In view of this surprisingly positive development, the share price immediately jumped by more than ten percent after the publication of the current figures.
However, cost increases and negative special effects meant that profits in the past financial year fell short of the previous year’s level. The operating result fell by 13.5 percent to 135.5 million Canadian dollars. Net profit attributable to shareholders even shrank by 23.2 percent to CAD 72.7 million (EUR 49.9 million) due to higher tax burdens.
For the current fiscal year 2023/24, the company is forecasting sales growth to between 1.4 and 1.5 billion Canadian dollars. Earnings before interest and taxes (EBIT), adjusted for special effects, which were 175.1 million Canadian dollars in the past year, are to be increased to 210 to 240 million Canadian dollars.