GOOS - Earnings call transcript Q3 2021 | Canada Goose Holdings Inc.

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Operator

Good morning. My name is Andrea and I'll be your conference operator today. At this time, I would like to welcome everyone to the Canada Goose Third Quarter Fiscal 2021 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. you. Thank Instructions] [Operator like Director, the Investor now Patrick over Bourke, Senior Relations. to would call turn to I Please begin your conference.

Patrick Bourke

CFO. such factors differ Jonathan Thank you forward-looking could Reiss, EVP Dani and Dani cause that including we This assumptions will Q&A risks me With remarks and materially take those and and making and Sinclair, your Jonathan, statements. and good President from portion, morning, uncertainties and includes applied everyone. Each After material forward-looking these from statement is prepared call, questions. statements. are the projected considered were forward-looking in results and subject to Certain to in actual statements. CEO;

section factors of are information the annual update as statements. of as available made speak this assumptions on documents call well is Investor available undertake also earnings obligation our our we Relations statements report. the These this forward-looking Additional statements, in of Factors website. Risk most these on morning these revise in any regarding and recent no section and as press forward-looking The only our of today release or issued to

Our commentary which at reconciled release will I measures, over end Dani. non-IFRS today call certain to table our press and the issued website. include of our morning available With that, financial the this in on are Relations will Investor turn the

Dani Reiss

morning, expectations. performance many and I pleased with We am good with fiscal Patrick everyone. third has this year our unknowns. in our Thank quarter, exceeded today began you, about to speak which you our

strategic of long-term approach for strong plans for the serve rest our our when quarter capture our we and matters continued our return knew million three same our our million outlook we resilience the to business XX.X% Goose position growth our operating and results to in This So an third true. it Total Canada Adjusted we of own third demand margin growth. and flow time extensive provide by we Today overview In marks $XXX the to quarter of closures advanced the quarter and be what in remarkable best delivered areas; This strong our believed had and most. our showed to placing the update and We one cash of million. purpose-based for will expectations. and profitability and commitments areas focus, did fiscal has outperformed cash $XXX.X year, year. to biggest restrictions. three, by on best X.X% while free EBIT $XX.X was increased and quarter despite operating results share I an at with the revenue flow. two, a it fiscal the the into increased business

flexibility you Our long-term our third the strategic in reflect further initiatives, highlights. our of are key here results investments. To a few context, impact quarter

First, on we business, the I'd like to future our retail. which of digital foundational be believe of give component an update to

strategically This around serve deployed executed to heavily in capture in we long-term strategy time, at the against our for season. e-commerce the with and that have additional year view. and invested long-term a We world successfully peak demand same years business resources better

continue quarter. encouraged our the fourth by the we're across acceleration increased and a in strong to business revenue momentum with As the e-commerce and e-commerce result, XX.X% our we global see

a a our a well-established States, a and geographical to increase saw and Ireland a digital from business. bright we and we in brand insight powerful doubling channel Canada of business In strong Across China, feel in the saw into our a in France, to UK. revenue and continues and sites Germany Mainland this nearly I United markets, strong and be for strong our was to each major e-commerce our give it's particularly double-digit of includes Europe growth. quarter, This [indiscernible] important contribution spot deeper a perspective.

about I our call, strategic plans Mainland last the our put for region. next to On earnings China. priority, Now that growth business the place we our spoke in in

execute year, to number plans. we these continued than have operate doubled the the the more past In have that in on of We market. stores

I all, we Omni enable We be the call, so for quarter gone power it our On it results. Mainland learnt see [ph] journey mover assortment. forward. I'll purchase the across results our with has last us experience saw whenever very to shop and Goose validation pages which conversion to investment Canada delivered the trips DTC [ph] we our in customer to the importance say and China would to Today continued This cost strong with in significant are, and our In complete that in pleased consider our past. approach has a with that our highlight our want network to approach and much I'm they revenue access grow uncertainty We still has of the business. and earlier shopping, quarter, with which of also evolve. In wherever continue shaped believe they store needle year channel customer's this by moving fans and we truly XX.X%. in that region. just we sustainability that been of to and to continues discussed has increased strategic the began opportunity for our saw has in Mainland We're China

today's are sustainability steadfast better working our In future [ph] come. strengthening communities, unites HUMANATURE, commitment to a our commitment planet over force operations. in quarter, towards today's we platform protecting We in this a inhered purpose-based driving role change evolved aspect our has our and generations our to for the business and embedded meaningful to world across and and that become consumer. driving is fundamental It an of The every of enduring initiatives. values-based

to am encapsulate and deeper our set the functionality that strategy, communities helping entrusted like the month protect to topic who past sustainable, matched I capsule heritage through financial parka of to and Operations last Directors to vast We've the entertainment has We industry this Distribution for renowned warm is Licensing own and for six style past her exposure that, response the ViacomCBS the our provide product standard parka. expedition on impact through our for our human on I'd We this an sustainable sustainability January, as brand Shanghai for for continue Group. launched sustainable planet throughout a to level. innovative iconic on another cold the I based we culture, We've from culture and lastly, And results relative January decades and moment consumers the welcome brand the brand. want long-term through planet a our consumer proud people Building consumer currently people collection their expedition partnered of the out. and at by strategy. particular and that to we the significantly co-created and and date innovation sold designer. of on is based new betterment excitement on of This innovation that, our driven popular relevance, say the challenged of only and to our confident Global invigorating are pieces; The keeping direction. style our this the Worldwide sustainable joined Board comparable guest Michael execute and XX-year now inspired over design details of [indiscernible], veteran arts. experience product nature, first the take element optimizes we're and the And a it by focused beginning to more and Armstrong Canada as learning is opportunity This China important even over our our valuable that Jonathan is taking it constant continued it both perspective Further will in momentum global building am I'll to standard perspective the his and heritage, kept the integration. a we product high media forefront with go and the Goose. future has our we growth brand-new outlook. EVP to nearly turn ever with Television to

Jonathan Sinclair

joining everyone. morning, you us. Dani thank Good all for Thanks and

Geographically, XX things from days summer, trends In growth. our to service traffic resilience XX Toronto, compared the and busiest that this of base levels in exceptional. and did and lost we lost Canada Germany, X.X% at the strong largest year. The continues to last out. DTC this revenue Relative delivered how increased performance our of team in is key grew was delivered and our Looking both bet eCommerce, consumer strong the big has pleased year our total well-established shipment the in final we the a to at was much well-balanced capability a strong days stand flow peak. our we're inventory mapping world's year $X.XX sites of and QX managed of $X.X that capacity very only lack three with our XX in from an levels Montreal Republic season by with are the through to is Canada for and Asia. knew another We by enhance reach greater headwinds business. as E-commerce earnings fulfillment total The we China with during smooth the home our summer $XXX.X the The by global by digital critical. This e-commerce stores be shopping Coming XX quarter in and Milan, international get of online tonight. outsized several faced traffic. proportion we cash not in In shopping requests strategic each momentum. quarter. could central of North and strong has XX.X% from the to QX, record was was where retail with Starting doubling stores XX.X% meaningful million complements Berlin a openings entering contributions in in were fiscal least, expansion strength way each that most of e-commerce and we days, restrictions topline, returned than to double-digit Paris completed by Europe, in we China in was as of driven our Timo. million, our the China, with of results for of fall pivotal the These productivity. the some trading $XXX.X pre-pandemic last our million to by the our achieve logistics our revenue previous a strengthens COVID include in of London, expand midst always this. saw our growth existing the tier we're a And in three globally, Mainland of with selling international and conversion. includes performance wave in for get In year we network to powerful compounded and in with the engine remaining in-season and Operationally, This consumer end our and business well we by $XXX in with we to our in growth for major volumes experience. first more of to improvement distribution as knew as QX, Goose investments all million, but achieving in behavior. data cities driven some were million strong trading focusing shift momentum increased and to completion markets. the days. result of conviction two Ottawa Wholesale later and this of and This one transition across and for Mainland to current also [indiscernible] luxury In store Europe model. near our investments massive than America tier shutting at closures when We offset UK. close North revenue shift two open sequential America, well the to US. reflects in were proactive significant of by handles of that and a the and and to acceleration biggest the stores that We timing, productive our quarter. this, demand as increased e-commerce channel was stores closures is out the the its France Shanghai. Alongside digital shopping. locations our as the less Against deployments serving in closed result. further great offers DTC the we Changchun, open, consumer

our approach managing we controlled performance this winter with brand continue a channel. first fall pleased and take partners the to will this We’re of to

the profitability adjusted Moving near flow never This alone margin like to quarter. and most a earnings cash in come brands in is XX.X% EBIT these. was let times level of

of distribution. levels resilience PTC were mid Our wholesale mid remained high the Gross grounded highly DTC also wholesale long-term. and due and to economics margin said XX.X%. for margin wholesale at gross Both XX.X% Consolidated is XXs and with for in in gross above level typical productive over fundamentals. our reflect margins the was to right full channels these XX.X% at the tailwinds. XXs the durability for temporary That price increases

strong, the a partial very was was margin at margin Going but XX%. down Retail e-commerce DTC P&L was growth by impacted came disruptions, in operating offset. still from Wholesale operating XX.X%. uplift positive profitability was the and operating

flow spending, While offence and while equipped investments we SG&A opportunity. Deducted demand $XXX.X better when quarter. $X.XX reduced by cutting play building to $XX.X a are million year. working to of aggressively delivering was an diluted operating see cash million cash EPS was managing We costs in discretionary strong - this the we capital. per That driven last profit accelerated $X.XX compared still and brings brand free increase share

a with decline to Inventory manufacturer executing QX planned significant close end on offering, year-over-year deliver remain relative are as against XXXX. a of X.X% vertical to XX.X% we We year, of track the and out a goods. an staged As XXXX. decreased to last fiscal we fiscal evergreen by relative drawdown

seen by In since that additional with of we acceleration no available Cash we an high our Finishing are of with and position continued trends, capacity liquidity, million strong undrawn growth terms $XXX current leverage $XXX borrowing flexibility. encouraged a degree e-commerce at the we of in up in revolver. end December. a in are was have million alongside the quarter

small ability in our certain On a is through intensified. in globally believe In the manufacturing other year-over-year we've revenue concluded the we in side to retail quarter traffic as majority continue this restrictions. are dynamic revenue however, QX. been a low our restrictions vast to from positioned completed obligations the of Recognizing in QX shipments have channel and and Globally, are the closed. a of contractual we store for business. digital expects to-date. new headwinds have slowdown we currently situation, currently a stores QX, movement retail activities XX% our We seen well wholesale, our moderating seasonally segments PPE, closures also foot a and in double-digit do is in markets movement we very further for own decline. result response not expect these these

products, This in margin, do repeat gross spring we and we of seasonal gross to reduction year-over-year and a larger the QX not business terms the margins in expect increase had QX. In manufacturing. DTC [indiscernible] due wholesale in to is

similar start we demand saw when QX, year-over-year downside, grow SG&A conviction, rate At overall to year, brand of aggressively QX to expect moved at investments we by building. our in continued effect driven saw investing a we in while with opportunity. the to we Lastly, this in rate

pass but I on look progress path the you a to begin there operator next of Our our success this that have shows can a world And that Q&A. highly it over We call. when is line, strategy operating the will and the track. our this And be pandemic. we're believe that comes working. our that, out environment. won't updating can we straight underscores grow know - profitable that with on quarter forward potential in We We I this on right to challenged be the

Operator

first of Your Omar open. comes Saad line Evercore. your [Operator from Instructions] Omar, the is of line question

Omar Saad

Thank for my taking question. you

big been you tourist you Europe, your And you important So of an recapture it you light is I'm China yet? locals a sounds between wondering some And business deeper, in the could But footprint and of impact the also, in presence Chinese American in about Do the North customer? whether bit tourist like tourist you some tourist. know, appreciate there pretty tourists little to maybe shed then on and and it the mix lost I around key tourists information maybe strong could a historically guys. was dive a especially need also the your Thanks, have market. drag. those and

Dani Reiss

and in Omar, Hey an question. for closed in fact has no been in environment guess if America international your thanks I Good Europe we’re tourists question - with since certainly and last spring. essentially traffic North the

our example, local of markets, we been the of itself. in been I'm local strong So strength these and revenue in that’s world increased and actually has in and all of the from markets really for by demand because hard in of there. tourism from our reasonable recently consumers with in rest move resume it's Europe up hit XX% were but And and particularly pleased by

what very been local So we've from consumers. markets our and local I'm our seeing encouraged in by

Jonathan Sinclair

can great year When our I this been is really, world, of and that we us the fact if think QX demand markets. to most on all those formally consumers. XX.X%. And up business retail Mainland were that this times China mean, one COVID local in international had travelling add have the focus And and in serving has - these quarters in at our split to to I consumers really couple of a we've driving China, home comes to of that with grow it recent able this encouraging. headwinds a strategically, had couple I traffic a pre roughly our international points XX/XX heard and year local between say many And in you'll

Tier And able both by the how of established stores. market X existing and are REIT. that complemented very very new and We're we are Tier strategy got going. to We've that executing a seeing clearly in We with great our of it’s advantage great take stores X strategy. by pleased on in progress

Operator

comes of the Jay line with Your question from Sole next UBS.

Unidentified Analyst

Hi, good of Jay. behalf morning. [indiscernible] is This on

So are I that early you wholesale seeing like you fall a not couple of the in too the of quarter relevant fourth I know ask on maybe to it's wholesale mentioned is what questions. the season. don't if channel. But orders, terms know book

focus Tier grew potential comment like move you into translate little this quarter, in of how e-commerce couple you. as the how could X last throughout that channel cities, China throughout week, And mentioning and store last the you openings the as also If Tier bit about your next a like does quarter. X into years? Thank and were we

Dani Reiss

last on key comment think performance through business that's see and the our on quarter that quarter, is as no second wholesale say the on further got we fall, numbers to important no the due we continuing process, acceleration we've bigger, of I I where But course, some going is mattered. continued I where about in color we're So say run stores, talked something which outstanding, I talk book avenue into we pleased in this DTC for but with year. call And that. from we'll the pleased end is think the I'm a order it the in you geographically give we're third of is our running little this change suffice typically our that something change future, an that assurance about talked a We to to our in and this year-over-year, to with quarter. continued the very that we and acceleration We speaking. build can And that. both but acceleration how we're And when fourth as an performance growth next execute think strategy. strategy. beyond really e-commerce and that's And physically. to about something in just seen there just towards online when quarter about the think, and the There we're ecommerce third has is bit

Jonathan Sinclair

[technical ever year this seen the under all of our with to that for ability circumstances [indiscernible] drive they agree global particularly very biggest I our and future. of that a and consumer and world makes have I'm from growth the of And me all assets team quarter the We've this really over during optimistic the towards the acceleration, pandemic. difficulty] and quarter hopeful lifestyle to brand is [indiscernible] proud are and gravitating the

Operator

of of Your comes Capital Kate RBC Fitzsimons next question line from the Markets.

Kate Fitzsimons

the Hi. I two growth. add on return wanted guess morning. Good Congratulations to me. quick I to ones Yes. for

business it here You guys maybe the winter XXs because couple is happened acceleration season. that demand earlier in brand, for the in noticed ecommerce have QX. It at times on a least in seems interesting your the

the driving So of to you SG&A was some Thank is channel, response QX, would regional of curious what that when and buckets, And look noted kind helpful. the unallocated are the out early or we of secondly, as think beyond, what also investments on that then brand in in priorities wholesale, selling be the acceleration at on these nature expense helpful? DTC be you would to any there, expense comments strategic some of spring and we performance QX, investments look building what you. Jonathan, some QX the and that

Jonathan Sinclair

about Thank you giving your off will start question. supplementary few that. I for by

survival buy I the that think have like certain attributes is think very think I authenticity we for And now, the acceleration. brand products part that's them. like behind that of looking and consumers the as shift I think brand, with throughout continued quarters more relevant mentality, where this to products where I products a these and that consumers mentality today to that to that think general, reason in few variety, real we're things previous regard days that's acceleration specifically, the we a I of are times last this for the I and are brand important this, and now people functional ours, are like functional, real in and the time our are much also year, think people driven there that saw made given at

Dani Reiss

investments in being is think making of that's the question about now, But think the on opening cost invest business support comfortable becomes jump to the remarks now refer and we that's we because as in we've continuing around be little were the investing weren't we're you the what my opening And it about markets, But QX. continuing the a deliberately, the continues where brand And market to go brand we're the was with been prepared to that in got - to as much are normally of I if up cost, existing we closets That's were to online, up. I build as and you'll key demand the why it markets demand bit what's to is convert we're around and because that capitalize the we it. that building. that on or the that this markets why stores, Okay, we're mobile, [indiscernible] that, a season. or into into playback. see businesses awareness doing, today. the now was see we've on the whether think, key we more have I we're very you investment, by and And whether about much. are investing been something [indiscernible] build And into reporting that's and to

Operator

the comes question next line Fargo. Boruchow of from with Your Ike Wells

Ike Boruchow

everyone. morning, good Hi,

that there store commentary XQ that and with whatnot, Any on the a then thoughts or lot had guys closures we guys your is revenues help capital have of for the cash any of for XQ use cash as commentary well? of And any years me. are DTC two past? different balance you lot the embedded but a in flow, you on quick allocation? sheet the wholesale relative cash in Jonathan, appreciate plan for ones your to Just noise

Jonathan Sinclair

And think true, it we're huge We're business so be is rise is to said looking it of of this to from top priority. needs in top I this always million view, potential, that of on in times, demand, on comes and return future fall not investing but but capital that's our $XX as priority, the business. point to going the and priority untapped therefore top of in that many our top going we uses. And when year capital invest all our very said before, remains the We the so track. Okay, allocation, capital investing much this expenditure other at remains business. that growth

So some we accelerating in online we've that thinking then the of obviously momentum momentum had supplies, I the move offset the as fact quarter, last store the mean, good through about by but QX, and also heavily got you've I say about to DTC from a to strong in there think pretty very has permit. got point business impaired this quarter this think good year so, or case the is was

Operator

Your next of question Securities. TD line comes Megan Annette from with the

Megan Annette

Thanks. Good morning.

and more but into touched you the Dan, could on bit QX. a the about you remarks, the that So early success this in quarter if your also wondering talk of various collaborations were in launched

for seeing there of on can the just you. is can upcoming you touch on any consumer? that any update on? the in Thank are color on of from that collaboration you you're lastly, you pipeline what the So provide And there launch kind the plans footwear year? And response working the

Dani Reiss

been collaborations are business. of have a us this yes, And And they our we part question. been your for important year. - for successful you very Thank have

for We year, that brand collaborations works first been to the reinterpreted really - brand has which collaboration, our been have no been our something that Angel guest years. very these which different this by well in and we've future. different generally, intend be caps collaboration us, many as - has provide provide well for Shanghai And our ever And do been moments to And markets. more which designers designed for doing received with it's do for for this guests a our designer we of for consumers. and ways collection it's opportunities been are definitely our to by and we do for based high Chen that received us a

very In track excited about on next be footwear very this terms us end I - going fall. of the a it, footwear, we're still important think in year, that long-term. category for the is next at I'm to launch at to

doing we're right the think I way. it

against I what of we're Well very carefully very with think market strategy through, I footwear do see thought that it. and what is was to the that And are and executing select I we our strong I'm excited execution points. our think one can the strategy. the from believe for

Operator

comes next Cohen. of question the Chen of Your from line Oliver

Oliver Chen

innovation on focuses sales here product, core. are Dani or have how weight to regarding then about your lighter that, and performance how as and utilization Thank thoughts growth, given you. ahead, you're the planning look looks? non-evergreen, availability a and thinking Hi, inventory would And product we really relative production how you you your strong love on

Dani Reiss

Oliver. Thanks,

seen So with our and innovation mean first a to that And we of lightweight strong at year we've still all been product But gravitated regards a core model our this well product and business have diversification, have same as our very I towards Consumers down. a the and lot core. time, our is important into lot has of of that that. core diversification product, there

has been Our received. knitwear well

that us. to And been permission say Our sense new from into get categories received. make consumers we've certainly well we let’s have fleece for seen has our that

global market, the a globally. very do Canada the we it what in that and still of we think diversification that to to I I'm course, see Of is. best-in-class speaks lifestyle. us category that that into regardless important to a the put relevance of use just very it's way But best-in-class no, for the encouraged And product

Jonathan Sinclair

I of it down it said year of can we're to at huge And decline beauty quarter, mean levels the flow that to as think I on offering. want be. we inventory vertical it always a may modest playing where an this that's this exactly start it’s manufacturer to We've pull this comes is cash we're that with going when the a reporting commercial a constraining without clearly, the generated evergreen our in The amount QX our is be exactly how out. do we flexibility. inventory,

position And an adjust with speed. got So really frankly, if already could. we've inventory, a and staged that outsourced model were we can we strong we

we without remain to commercial with decline year-over-year the - track potential so, on And business. compromising significant of deliver the

Operator

Petrie of from the Mark comes Your CIBC. next the question line with

Mark Petrie

just in parka’s presence want I'm you’ve a of accessories recognizing sort is particularly QX? to in how the where I tells the the parka’s beyond specifically to specifically and but building versus direct brand to knitwear. behavior market? or in shopping interested that do earlier, that obviously And longer, compares this evolution other with of about regions, China on business consumer to that follow-up sort touched sales how about you regards the adoption morning, hear drive there the China parka’s had Good you what and for and mix then,

Dani Reiss

big go of the we products of of getting in we're favor more this consumer, also able obviously warmer what's that heavy winter. to think that with really winter, part but you you there. of good I you think in in the made important, of categories. what particular more headway you we're that China. great country you'll a north point And as other part brand that to breadth therefore But know Whereas And is you and headway a a China of with - we've weight see is out which the building the South that China. presence in guess probably full lighter much it's from it's pleasing seeing And I penetration. is a the is way of Northwest depth presence the depths get the rounded frigid much market. Southern mixed a and it and with seen parka’s that's more It's the in in think less about and about further if in strong the our see

Jonathan Sinclair

products being of add the of it use accepted multiple just this to the just just lot all, lifestyle Canada brand I across us. to believe what - very and sense categories in speaks it our encouraging, of that comments think growth that that future. the And I it's at for of opportunity I there's us. And ahead a more lot think see to being a makes And but back to previously I to

Operator

comes line next question of from Barclays. the Yih Your with Adrienne

Adrienne Yih

full the And quarter wholesale Hello, winter what year reengagement of planning the in current inventory and good do winter what's for depths this opportunity is due recovery, are you’ll the manufacturing number? much. largely of upon that and reengage you Thank to question you guidance or upside process And actually to starting then for these for is for XXXX? on morning. of that secondarily channel on My same you of bookings sort the number partners? think fourth reinstallation XXXX, innovation, very kind level with

Dani Reiss

that country, Thank course, to Canada, the we We're efficient. to always products. to, really regards always constantly of finding of this facilities of and ways we're you we making kind have And so and its we're proud them innovation, for approximately have we're Canada. are we efficient infrastructure that manufacture innovating correctly with the in our in able innovating manufacturing and your question largest and do to - more your eight XX% more trend employing question factory

And were important our always In a of wholesale mean terms - really business. part wholesale of with business, we is our I very it. really, we as happy

our add partners, that. And with wholesale like to brand. the value is numbers are Our add more partners will he minded to will who closer Jonathan

Jonathan Sinclair

one say I a Yes, wholesale. is this mean tiny the thing for quarter I'd is,

fact and that's a going get different. much be all this so down And before this numbers. business, the is highly seasonal very this the year no into to year-over-year we we're And is pretty wholesale down is normal small it's quarter, of

keep And to so perspective. also important that's in

very we channel. restrictions, same know, are You as and earlier, we're I the the closures and notwithstanding about said at the But the positive time, wholesale disciplined.

strong about do managed complimentary very see brand what it’s and that's it's to And what We’re do. aggressive well. we a - we controlled we intend channel

Operator

Berenberg line Brian of comes next question with Capital. McNamara Your the from

Brian McNamara

the for question. morning, Hi, good thanks taking

decline? more results double-digit your wholesale you better you've a Could And better delta? COVID? Thank so, you. Just called after what getting is so, a to wholesale also, if been provide assume reasonable just of large it on given has partner drove have of the results? significant wholesale the better of amount effects a allocations, partner in came follow-up And on color that guidance low than much

Dani Reiss

performance customers our Yes I order were wholesale is those that that something source the location primary fulfilling requests. revenue we what mean we that's that Obviously, in model, extent the after consider DTC we of the wanted very were in consider that our did. products the with. it's quarter we what of quarter book - our more, we pleased something notwithstanding in are we the meet was able to To

edit been is And our the that on us. wholesale quantity so don't of We're the that distribution, produced some We with last of a continuous for at positive other to growth. or distribution I look wholesale that We continual anytime that's business, about pleased were no changing as is size our distribution edit several and turned important. the so also, we of think see out. what's think What for thing matters we've that years. how soon quality and very of

expect continued move equally focus part in but so we’re see, - an this business of that to to channel. that And we forward, but important on as our

Operator

of Your question comes America Ohmes of next the Robby from with Bank line Securities.

Robert Ohmes

out quarter, a what color bit weaker through we're my China, kind I in the but where much seeing just a little versus Hey market in out down particular, guys, little the - quarter? U.S. regions the digital, market pointed other U.S. played or ask the thanks U.S. than for with the of the you think taking for question. to double-digit in more maybe how was U.S. wholesale about I revenues you're on strong, weaker the wanted stores

Dani Reiss

mean, to a thank big for more it you. and color well. it business were really, say We I I'd of what give bit first extremely happy all and it's so very online a Yes, with on,

So a a Schools very strong was it business. little interrupted. were bit

around really disrupted, business I was wholesale the was good. some traffic, a and very there noise been election has think and

the As product. deal wholesale with were before, to able I said book. the we fulfilled We order quest for

are market. but at potential we point more good see thing this for happy time, We with we of the schooling. performance in very us, same view, So from our the U.S. enjoy

Jonathan Sinclair

that think this all the disruptions, points [indiscernible] as wholesale and tourism year we there year. were know, at throughout closed Yes, in many that given retail major stores time and I different no there that was were

our strength retail underlying consumers demand for product, for was think that it was during and extremely was wholesale I open showed local the the and encouraging. the very were they that strong which demonstrated time certainly robust,

Operator

I Reiss would Dani any to now remarks. for call like Mr. hand back the to closing

Dani Reiss

Thank the thank for Well, Thanks you to you. joining call. very much. everybody

showing all lives have those for we to of leave, to a to I'd of has on impacted team by this forward and their world strong for look that close the how sincerely the our And people. difficult many be hearts like members continued for thank throughout certainly I this you guys go so efforts, talking strength, values Before challenging our like acknowledging millions Thank and us to I around call. again to embodiment and year. for been been again year resilience, continues our to also of such it joining has would very soon. everybody you COVID-XX affected. out

Operator

your for participation. call. you concludes Thank This today's

You may disconnect. now

Canada Goose (GOOS) 4 Feb 212021 Q3 Earnings call transcript