- Prachi Singh |
Canada Goose Holdings Inc. reported total revenue increase of 56.8 million Canadian dollars (45 million dollars) to 265.8 million Canadian dollars (211 million dollars) in the third quarter of fiscal 2017, representing year-over-year growth of 27.2 percent. Net income for the third quarter was 62.9 million Canadian dollars (49.9 million dollars) or 0.56 Canadian dollar (0.44 dollar) per diluted share, compared to 39.1 million Canadian dollars (31 million dollars) or 0.38 Canadian dollar (0.30 dollar) per diluted share, in the third quarter of 2017.
“In our peak selling season, we delivered strong performance across geographies, channels and categories this quarter, reflecting the continued demand for the Canada Goose brand around the world. Year to date, we added e-commerce sites in seven new markets, opened five new stores across three continents, including our partner operated store in Tokyo, and we successfully added more than 700 employees,” stated Dani Reiss, President & Chief Executive Officer of Canada Goose in a statement.
Canada Goose Q3 highlights
Wholesale revenue for the quarter was 134.2 million Canadian dollars (106.6 million dollars) compared to 137 million Canadian dollars (108.8 million dollars) in the third quarter of fiscal 2017. Direct-to-consumer revenue was 131.6 million Canadian dollars (104.5 million dollars) compared to 72 million Canadian dollars (57 million dollars) in the third quarter of fiscal 2017 driven by incremental revenue from four new company operated retail stores and additional seven new e-commerce sites which opened in fiscal 2018.
Gross profit increased to 169 million Canadian dollars (134 million dollars) from 120.3 million Canadian dollars (95.5 million dollars) in the third quarter of fiscal 2017. As a percentage of total revenue, gross profit was 63.6 percent compared to 57.5 percent in the third quarter of fiscal 2017. Adjusted EBITDA was 94.7 million Canadian dollars (75.2 million dollars) compared to 66.1 million Canadian dollars (52.5 million dollars) in the prior year, representing year-over-year growth of 43.2 percent.
Adjusted net income per diluted share was 0.58 Canadian dollar (0.46 dollar), based on 111.6 million diluted shares outstanding, compared to 0.44 Canadian dollar (0.35 dollar), based on 101.8 million diluted shares outstanding in the third quarter of fiscal 2017.