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Canada Goose has reported “better than expected” gross profits of $42.7m (£35.3m) for the first quarter fiscal 2023 ended July 3 2022, up 39.1% from $30.7m (£25.3m) over the same period last year.
Revenues were also up 24.2% from $56.3m (£46.5m) to $69.9m ($57.8m).
The company said its EMEA revenue growth was largely driven by “significant retail network expansion” and stores that were open in Q1 2023 but had experienced closures due to Covid-19 restrictions in the comparative quarter.
For fiscal 2023, the company said it expects total revenues of $1.3bn (£1bn) to $1.4bn (£1.1bn), based on improved traffic and lower levels of operating disruptions globally.
Dani Reiss, chairman and CEO, said: “Our first quarter fiscal 2023 results reflect strong early leading indicators for the year, and we have seen encouraging trends in store productivity.
“This fall, we look forward to our planned store openings, in some of the most exciting cities and shopping districts around the world, as well as our upcoming collection launches, thoughtfully curated and designed to drive brand heat and capture new consumers globally.”
