Canada Goose Reports Fourth Quarter and Full Year Fiscal 2026 Results

Executive Summary

• Canada Goose reported strong fourth quarter results with total revenue increasing 17.9% to $453.3 million, driven by significant growth in both DTC and Wholesale channels.
• The company achieved a 10% DTC comparable sales growth in the fourth quarter and 8.4% for the full fiscal year 2026.
• Management provided an outlook for fiscal 2027, forecasting low-single digit revenue growth and an adjusted EBIT margin in the range of 11% to 12%.

Key Details

• Fourth Quarter Financials (CAD):
  • Total Revenue: $453.3M (up 17.9% YoY; up 18.2% on constant currency).
  • DTC Revenue: $361.7M (up 15.2% YoY).
  • Wholesale Revenue: $49.1M (up 54.4% YoY).
  • Operating Income: $64.9M (compared to $55.1M in prior year).
  • Adjusted EBIT Margin: 14.3% (compared to 15.5% in prior year).
  • Net Income Attributable to Shareholders: $28.1M ($0.28 per diluted share).
• Fiscal Year 2026 Financials (CAD):
  • Total Revenue: $1,528.2M (up 13.3% YoY).
  • DTC Comparable Sales Growth: 8.4%.
  • Gross Profit: $1,065.5M (Gross margin of 69.7%).
  • Adjusted EBIT: $148.0M.
• Operational & Balance Sheet Metrics:
  • Store Impairment: Recorded an $8.4M charge in Q4 to optimize the retail network.
  • Global Store Count: Ended fiscal 2026 with 88 stores globally (including nine net new permanent stores).
  • Net Debt: Declined 6% to $383.2M at the end of Q4.
  • Inventory: $386.3M for Q4, remaining flat year-over-year.
  • One-time Arbitration Payment: The company recognized a $43.8M payment in FY26 related to a dispute with a former supplier.
• Fiscal 2027 Outlook:
  • Revenue Growth: Expected to be low-single digits compared to fiscal 2026.
  • Adjusted EBIT Margin: Expected to range between 11% and 12%.

Notable Quotes

• Dani Reiss, Chairman & CEO: “Our fourth quarter capped a year of meaningful progress and execution against our goals. Revenue growth was broad-based across regions and channels, supported by stronger conversion in DTC, improved wholesale performance, and continued momentum across our expanded product offering.”
• Dani Reiss, Chairman & CEO: “As we enter fiscal 2027, our focus is to convert brand momentum and a stronger operating foundation into sustainable EBIT margin expansion, starting this year.”