Canada Goose (GOOS) Goldman Sachs 32nd Annual Global Retailing Conference 2025 summary

Business evolution and financial performance

• Transitioned from a single-category, North America-focused wholesale brand to a global luxury, year-round apparel company with 75% D2C and 25% wholesale mix, achieving 16% CAGR since 2017.

• Gross margin stands at 70%, with D2C and wholesale operating margins at 40% and 33% respectively.

• Q1 revenue grew 22% year-over-year, with 15% comp growth and improved operating margin; inventory improved for the seventh consecutive quarter.

Strategic imperatives and product innovation

• Four operating imperatives: expanding luxury product year-round, increasing brand heat through marketing, channel expansion with D2C focus, and operational efficiency.

• Creative Director Haider Ackermann drives product innovation, introducing new styles, colors, and the Snow Goose designer capsule, elevating brand relevance.

• Product evolution beyond heavyweight parkas to multi-season jackets and apparel is resonating with consumers and fueling growth.

Retail and channel execution

• Significant investment in retail execution, including staffing, training, and standardized playbooks, has driven conversion and comp growth across geographies.

• Store productivity at CAD 4,000 per sq ft, below historical highs, with strong four-wall EBIT at 40% and room for further improvement.

• Wholesale channel reset is complete, with cleaner inventory and reduced markdowns; potential for future growth as brand presence and assortment improve.