Canada Goose (GOOS) Goldman Sachs 31st Annual Global Retailing Conference summary

Business performance and transformation

• Achieved 19% annual growth since IPO, reaching CAD 1.3 billion in revenue for fiscal 2024.

• Shifted from 100% wholesale to over 70% direct-to-consumer (DTC) channel mix.

• Expanded product lines beyond heavyweight down to include fleece, lightweight down, footwear, and apparel.

• Gross margins remain strong at 69%, but EBIT at 13% is below historical levels.

• Underwent significant organizational restructuring to improve efficiency and focus.

Strategic priorities for fiscal 2025

• Focused on brand and product evolution, retail execution, and operating with simplicity.

• Appointed Haider Ackermann as creative director, with a new product capsule launching in the fall.

• Emphasizing growth in non-heavyweight down categories and broader brand recognition.

• Improving retail execution through better inventory management, staff training, and store-level rigor.

• Targeting SG&A to remain flat or shrink as a percent of sales to drive operating leverage.

Product and category expansion

• Non-heavyweight categories like sweaters, fleece, T-shirts, and windwear show strong consumer resonance and growth potential.

• Exploring future expansion into categories such as luggage and eyewear, paced deliberately.

• Maintaining gross margin in the mid-70s% despite product mix shift.

• Heavyweight down remains core, with continued unit growth expected even in mature markets.