Thanks to savings programme: Canada goose increases annual profit by 62 percent

Canadian apparel brand Canada Goose Holdings Inc. strongly increased its profit in the financial year 2024/25. However, revenue for the Toronto-based down jacket specialist was only slightly above the previous year's level. In view of the global economic uncertainties, the management decided not to issue any forecasts for the current year.

According to the results published on Wednesday, revenue in the past financial year, which ended on March 30, amounted to 1.35 billion Canadian dollars. This represented an increase of 1.1 percent compared to the previous year. Adjusted for exchange rate changes, however, revenues fell by 1.1 percent.

Canada goose makes progress on earnings

Thanks to a slightly improved gross margin and extensive cost-cutting measures, operating profit rose by 31.8 percent to 164.1 million Canadian dollars. Net profit attributable to shareholders even increased by 62.3 percent to 94.8 million Canadian dollars.

In the previous year, however, the company had to recognise high one-off charges as part of its transformation programme. Adjusted for special effects, the annual surplus attributable to shareholders exceeded the previous year's level by 8.3 percent.

In fourth quarter, results exceed market expectations

In the fourth quarter, Canada Goose experienced a solid upward trend and exceeded market expectations. Thanks to strong growth in its own retail business in North America and in the Asia-Pacific region, revenue rose by 7.4 percent (currency-adjusted plus 4.0 percent) to 384.6 million Canadian dollars.

The result before interest and taxes (EBIT), adjusted for special effects, grew by 48.9 percent to 59.7 million Canadian dollars. Net profit attributable to shareholders, which had been only 5.0 million Canadian dollars in the same quarter of the previous year, jumped to 27.1 million Canadian dollars.