GOOS - Earnings call transcript Q1 2022 | Canada Goose Holdings Inc.

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Operator

Good day and thank you for standing by. Welcome to the Canada Goose first quarter fiscal 2022 earnings conference call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question and answer session. To ask a question during the session, you will need to press star, one on your telephone. today’s being that advised be conference recorded. is Please

go assistance, star, hand zero. you you, conference require would press further any please Thank Bourke. to If I please now to Patrick ahead. over the like

Patrick Bourke

many Thank to you me Reiss, remarks statements. possible and call, allotted these and will fiscal forward-looking as material factors President including your from in forward-looking the to EVP limited could everyone. Q&A making portion were allow is Dani and one differ Sinclair, we assumptions outlook, After and results including be are questions. questions will Jonathan includes take Dani ask risks our projected and forward-looking CEO, CFO. materially of within good actual statements. uncertainties applied This and those time. morning as With prepared in that Each each statements. and to to cause Jonathan, These such discussion Certain subject considered and statement, ’XX to the from

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

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

Dani Reiss

demand to an this you demonstrate global in The the and XXXX fiscal to speak evolving and we’re Thank for and today operate pleased in we positioned Heading continued the our our we in record strong with I delivered into after to third QX fiscal and our quarter, the results well across entire still ability good morning yet environment. all improving quarters. fourth business. were XXXX start about our revenue with brand retail you finishing momentum am Patrick everyone. seeing

recovery Our has and business Today has in shifted and quarter. highlights cover growth of into across going and this driving key how our are that from to we to share continued I’m categories results growth geographies.

our all quarter, the at results regions. strength and Looking by channels driven across were

successful increased digit and U.S., Our strong the majority ecommerce a and EMEA. also APAC saw global This revenue stores but XXs in our high for were growth high Canada strength open the led the the our where triple by investments ecommerce not in In the than of more business only we growth in XXs. North highlights growth our in in digital both America, our of and with the low XX% quarter, the rate demand. global way

during Next, environment. any of serve and regions. the were impacted of our and to demand period. reinforces stores all model our revenue significantly ability This closures important increased performance across to capture Europe functionality is many by highlight in in the Canada our underscores This geographic and as

still positive indication grew in very domestic quarter, a we We closures where the excluding Specifically elevated Canada, in PPE. this faced revenue XXX%, consider of by demand.

in improve, incremental have to shown be which increased drive productivity stores, channel to performance continues we our As see this growth we the to would traffic quarter. that expect

with saw revenue XXX% increasing about ahead we growing previously retail our our see quarter. by of China opportunity firsthand business in to mainland DTC and expansion, opportunity the continue spoken China us in our to on We our this strategic we’ve Turning focus there. mainland the

month business three fall. we in we key this more QX, to new follow openings beyond markets to in the store our three region, past build have expected the China, celebrated with over Moving continue mainland in and

brand, we functionality. across new global expand products growing a continue geographies, As to designed lifestyle intention, with launching categories purpose and and

into million a Goose In expect strength innovating apparel overall in trajectory newness contributed the Building continues quarter are years, our roughly that, on to of Canada this XXXX we apparel and and launch we on globally. and developed expected we and gain fast category growing investing fronts only actively in As fiscal. four is have sales that our to year, meaningful has non-parka to momentum, this fleece in last many our $XX offering incredibly continue. our successfully exceed this specifically knitwear half in shown business our brand and the revenue. business of category addition Since DTC with expanding our popular business

I’ve about to call, last launch footwear later Goose As spoken our we fall. Canada this in plan

team and way is a in and Our this and succeed in ability intention their confidence to no like down have of category apparel. great I have we this define including category, that our our expansions, with can category or develop in just in brand lightweight each to has. other previous

proven of businesses brand. new We record building our track successfully have for a meaningful categories into

introduce commitment said that have very soon. we to throughout in you continued to innovate sustainability assortment and have advance an I us to our of I our incredible and a cannot footwear, made in I front before, We’ve organization. our we’ve wait believe As opportunity across to offering

June we do strategy our future through use approach. create focus, that all products everything to As the announced our of that in end out laid doing fur a can want we transforming ensure report, inaugural we the we’re we With business the in to to the that we we in this way would phased we impact see are world. sustainable

the December sustainability We nature. XXXX by purpose-based no year our decision will fur commitment This of and was this by than XXXX. our purchase to year end with December by fur manufacturing will platform end and next later driven human

ability elements, for from Currently, always how our represents and significantly has our perform that. this This This business has will protection the just I’m been years. spring that products mission growth. strategic a few path the forward impact we our for intentional, growth non-fur do our make In in investing the planned, change them business. growing found and driven down long-term new the our this in of direction productive success over and where is continue mentioned, shifted opportunities previously that with and past business. our of to and expanding greatest the transforms quarter categories, need and the culmination by revenue. further and, confident we our both This by consumers roughly to quality, Our way our parka energized has deliver accounts been our our to, importantly, its transformational another I’m and this was planning lightweight has to accelerate half This business. excited non-fur conclusion, offering, significant as apparel the business. non-fur of exceptional

results. our the really also evolution this to full the for details updates to commitment a turn quarter I to excited important financial with marked our an to it to This to move that, you future year, we of sustainable through brand our Jonathan fall. later over launch over more all strengthen our go share With I’m as continue and on

Jonathan Sinclair

morning XXXX. a off to everyone start Canada Goose and to for great us is fiscal Good joining thank today. you

stand Looking outlook, at and that results our out. key there QX are three themes

a and Firstly, retail business has trends, growth. of rapid continued our digital pace improving alongside reopenings

distribution and our for assets supply environment. flexibility the a chain Secondly, incredible dynamic of DTC are navigating

open digital significant helped all base. wholesale, as million. rate, APAC mainland in in beyond lower had the at meaningful DTC revenue we days continuation channels. million. channel Global level looking in China $XX We North Thirdly, quarter. the Across Starting in stores compared total upside complemented of top first came high was we building was to ecommerce line, the by Europe, revenue States level, In QX. increased EMEA the APAC. for QX outstanding comparative This more closures still blocks million, the with operational growth with $XX in Canada network, the [indiscernible], approximately XX% have United revenue triple America significant disruptions our with by lost wave the with low store of but led both XX% last growth XXs saw of way base. in along XX% profitability. trading a throughout growth level contributor with XXs broad-based total rates. a in by where was At In the a revenue $XX a we peak was the U.K. particularly lapped were of impacted a year. digit growth both and was against our

Our growth was wave. to the at total peak last of shipments year shutdown a first near the of due

Our with not has expectation changed. line in XXXX annual of fiscal revenue

our to a as our encouraging. DTC. We strong continue to in best contributions to made we’re doors is The more partners Canada concentrate seeing All with business complement sequential improvement regions strategic and growth. particularly

temporary trading days of sales, PPE some the impact XXX%. This at Canadian reopening, store nine revenue by our stores. Since productivity best of of our is levels the seeing we losing are our in globally home increased market. XX% Excluding despite

than last while on Both was our we gross XX% levels margin, wholesale DTC XX%. slightly in onto was the Moving came lower call. discussed

growth expense great year. We shift million, continue distributor higher to This business spend are expect much strategic DTC. non-parka mix year. mix savings back mix with alongside from In evolution with from SG&A, of fiscal we than impacts QX. expected, of the in at my decided That was for the initially in investments. of more wholesale, half portion XXXX in we shift end was last We initiatives to on was to line a These our as be permanent each revenue. up planned the $XX underlying full to reflects be line I Intra-quarter, them a participation not circle non-parka efficiencies and that cost annual XX% is complements offering. at channel a Finishing significant DTC year. to our milestone operational the impacts of last remarks. for of will to the roughly transitory. total This expect record basis an achieved own our

demand. Looking over. in Disruptions and is risks our has of ahead are to including pandemic our variants. operational said, to backdrop improved. most fall-winter, the peak The That make ability we greatly new remain, not confident

now All are open, as eight facilities. our Canadian stores our of are manufacturing

are running levels much normalized of efficiently year. to at more relative factories Our production last

sector to offering, is to our unique shipping significant delays made is model, regulations utilizing are currently With base confidently impact. vast materials facing. in and shifts continuative Due finished revenue raw we majority the shutdowns the production stage Canada. don’t extra we of distancing the to and The exposure our a While lessen goods. we have remain,

distribution Our also shipping generally of Canada from our to different. network global centers. We routes are outbound start

confident retaining product into while We highly in our in-season to the marketplace flexibility. are ability get

type environment a perspective. tailwinds of also Our gross much make profitability margin this from manageable more

PPE, make Despite a of XXXX were preserved by fiscal our to is strong we in months proof not to retooling constrained experience mandatory margins. great and Our and production very point. we supply losing closures gross infrastructure three

our The outsized of other last the uncertainty sector ecommerce with retail recovery is gains. year’s is pace to grappling relative

brand which footprint, environment today’s consumer where DTC in consumer retail As has mix are a selective drive and wants to truly DTC want online and to shop, to started able agnostic. in a wherever the shop. the is We higher we

global mass outsized capture have critical We and reach to online drive growth. the and demand

and consumers, of that spectrum trends. also our from highly stores far geographies, and a of levels by This year, a foundational is margin there movement retail long-term Retail wide luxury still case a pre-pandemic even closures in to is levels, environment. know disrupted productive lost already Across We are significant and we’ve amount globally. trading is reopening restrictions, to traffic also our sought recovery upside. after

As have open advancing all driving the start margin where DTC why mix of have trend. stores accelerate we with two an potential beyond and is for really an our an these EBIT higher. continuously adjusted no normalization with shouldn’t uplift the gear. extra In environment dynamics, a will full there traffic, The from are look we multi-year retail reason

double-digit manufacturing, meaningful shipment year due at I finish the in driven the any DTC, segment, X.X some timing. current revenue. QX. with generated In commentary Starting revenue rate by around are top temporary $XX year’s assuming last do trends will PPE million a earlier roughly line, we we growth with expect not Lastly, low we wholesale to expect last which In level. times currently other in

gross margin mid-XXs, We annual expect DTC in wholesale the gross mid-XXs line with margin in and levels. in historical the

summary, reflects On D&A we This through million total through we in business. I mentioned expense for touch navigate In over $XX we’re remain confident spend growing our a currently $XXX million. of of the planning SG&A environment, resilient over challenging flow and delayed to and but a the line, continue earlier.

distribution to peak Pairing navigate this We supply trends chain today’s long-term With our but that, and momentum in ecommerce growth. encouraged a puts very position are pass We are and Q&A. to sustained and Operator I with into over the by us the that optimistic in drive season rapid our will improving great remain unknowns. agile will continue to global begin retail dynamic we world, growth. the a

Operator

with first instructions] [Operator question Chen Your Cowen. from comes Oliver line of the

Oliver Chen

Hi, what In the decision recent thank you’ll Jonathan. able to gives very light It and that you and much. same trajectory? of morning be non-fur how grow fur will about Good been like you’ve Dani business, announcement, impact proactive confidence at your being you this sounds strategy. really and your

you. what think fur opportunities? different and investigate or you fur substitutes follow-up, you look faux As to about do a Thank as innovate

Dani Reiss

Thanks Good Oliver, thanks for your hear you. from question. to

is company high that a make is something years. been This the transition confident planning for this we will decision that around This time. sudden we we considering and us. for growth We a continue that and not same are will be to at have very

product and parka continuing. the non-fur we for an a that all assortment and at outsized includes make be up to non-fur alternative hood we been again been expect trajectory categories, This and roughly of has to makes that’s extremely [indiscernible] base them new partners, been have revenue Our wholesale which continue fur-free successful. growing styles, product today, offering will that trims, be pace has half our

be and where are opportunity of With offer things the than faux the believe this can feel now the a the for huge believe fur, has without faux sustainable we it decision we’ll in us amount in using best not protection question offers We using on regards at continue a stage to be fur. to increased that. truly company that a We absolutely fur, do and using future. your energized we not will we is environment, other alternative I and

Oliver Chen

a and consumer about and regards. this Dani, was research the just side, been the lot, customers I what decision. consumer you’ve Okay curious think, how about Thanks thinking in customer-centric best

Dani Reiss

environments on focus they consumers on we that focus products innovation which live. providing they in and the the for we Yes, right with need

As lean that products successful, we’ll and we’ve way. in a non-fur more they’ve been intentionally more into time heavy over been developing

Oliver Chen

perfect. Thanks lot, a

Operator

line Jonathan Komp Your Baird. from next of comes question the with

Jonathan Komp

Yes, hi. Thank you.

and using separately for first and question, you’d any the going margin forward, Just think gross a you product margin, about any impacts other follow-up of talk the of for or outside about of uplift that the out puts quarter? expect the and but called takes costs Could margin from the for other about thinking on mix balance impact. when pricing year, sort first you maybe the factors that not gross fur gross then you

Jonathan Sinclair

Hi.

our particularly change so making offering, of that when the given and we a fur, and in the more a jackets, our evolution expecting margins and this we’re the quality and not products. think we’re suite to a broader in part level, to investments channel of upgrades of as are--we’re it result our to continuously very really broader at the it’s of comes performance I investing much sustainability

point a our on more very general gross is much margins, think algorithm intact. I as

gross not mid-XXs We talk and our over at expecting channel a on any annual for puts for changing. high that year. takes XXs don’t other We margins moving mid we time, level see this to and move to We’re typically wholesale DTC, really therefore an about basis. don’t see that fundamentally

Jonathan Komp

you. thank Okay,

Operator

Omar ISI. of Saad line the from comes question next Your of Evercore

Omar Saad

versus you pre-COVID wholesale back there for behavior shift bit to the consumer customer changed behavior XH deeper morning, dive Jonathan, it a guys. implies if in you could. taking to context. pre-COVID? Good like reasons That into my category? really seems Thanks levels. or such guidance, helpful I Has on little with something thanks Is question. It versus wanted a would be the guys shift significant you why or specific the half the are the signaling a

Jonathan Sinclair

all. problem at No

we It’s corporate a two to one on at the and of channel DTC-centric comes on buying think clear I main mix other. course: behavior that down more today. it the level, much hand, are changes,

XX% is think buying second annual peak. that consumer and puts We revenue and the revenue of approach our of year. in its QX expect a when at DTC channel into this year, year, XX% were lot revenues of Last to I our QX the the more naturally half

that, to business, our and QX. that’s wholesale also parallel much to and as know, in refocused more weighted Now you we’ve resized

Operator

Binetti the Credit Your of next question comes Suisse. Michael from of line

Michael Binetti

Hey, lower thought channel. have the imply just you baked a that is category I’d about out you us increases, Jonathan, could Maybe like other unit a does some XQ than I’d in for understand why given and to--thanks how XXXX. still shifts on declines on understand like decisions. in about well, that pretty it you own for down little trying quarter spread in see or that that you taking you then be in, industry a X% thought question that bit our wholesale in ’XX significant wholesale. bit here. I’m laid DTC DTC a about color XX% especially the I to given consistent in unit that in the price where much, idiosyncratic would guys think done you’ve in you strategic versus just going assumes anything some channel, we as as to pretty sort your on maybe little the ask maybe better the to recapture you September down direct-to-consumer how and I’m core trying below mentioned, I’m work you any to basis versus related second side, the X% conservatism below like the math on a out, levels implies curious, that look guess you at meaningful just direct-to-consumer XXXX the about it considering decline. XX% wholesale looks about levels. of but what

Jonathan Sinclair

we’ll DTC. take wholesale then let’s talk and about so Yes, first

through not do there, think, we as we reset last to somewhat materially something higher of to we’ve hand, you year, all, have last a at different first back and so and the been to time. got be might what very was year expect business the and level different think happened absolute I the clear ’XX the you’ve of wholesale, materially size it of wholesale been to on went the this year’s shipping patterns one same that fiscal compare

the wholesale, recapture as time, into of wholesale Secondly, don’t is you that do with we and pipelining recapture we’re the into DTC, typically primarily to of expect it, you revenue QX out to obviously DTC that are at expect recognize in whereas getting and same it we sell course but in with starting stores the key and stores QX. the switch because QX

to we the environment given of that September dynamic believe where and us we variants. are and DTC, with Turning quarter our of are remain Most appropriately comments in ahead is new today. a measured directional in we

here we pleased performance. we sit with are As today, really the

forward size you’ll looking year great We’re look the ahead and a the and it’s the what’s both last of year DTC of implied fall-winter, to before. well you if and year for full at business, see the

Dani Reiss

I that, agree Jonathan. with Well said.

a--you to business our sorts whole about an the reasons. variety of we annual mix the shifts, changing future dynamics on Year-over-year, are and things in is the period. that re-emphasize, trajectory confident feel and this a for is very in know, Just of strong in all growth a

Operator

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

Ike Boruchow

for guess year, flat year morning in everyone. being it’s yet had good QX. potentially year a two I but I wholesale nice think on the the quick mentioned last call over ones. Jonathan, you Hey, performance

talk store update hit to going you’re think to are of you’re other is similar on have of that that about guess you been little that robust. a and bit Just landing? but your a I once has a guys stores the about side of just revenue an digital retail your believe COVID don’t how now there. Jonathan, we doing, Can curious I of just since productivity productivity much ecommerce Then or revenue picture, this, Thanks. normalize, internally? fantastic in is or expectation Dani you there see because your bigger where an assume there’s you about way you thinking way

Jonathan Sinclair

Let’s take the question first. wholesale

in want to sooner customers think the when which when so the client are wants mentioned in take our the we our quarter expectations words, than it wholesale other is I we year; neutral for wholesale the the about to thought. is is bit wholesale As inventory, a we’ve simply it, first in the documents, shipping performance

Dani Reiss

that’s think and we to that now add to for think used, that to I as I fully our and this operational and it’s operational the that’s anyone today we it term Yes, are ecommerce once fully will impossible the--that’s stores to but where punch speculate obviously is when is that--you know, right that, also without with environment an think be. line, once traffic, normalize as normalize, any I normalized that’s question, are we accretive you

Operator

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

Megan Annette

around the time environment wanted dependent margin the you, just Thank just and your more detail, you’re there, improving? is the give little EBIT adjusted What’s a bit good Jonathan, retail morning. referencing that clarify to please. starting frame two. comments on how could a with you If

Jonathan Sinclair

Yes, call thanks just you obviously Megan. I grows. be point integrity, at there that can how hard retail retail where how it with dependency on productivity an of there’s important resumes any because do and in timing traffic think a the to it’s

and is hard. this, it to that traffic. is we to where retail confident past We’re timing get point clearly just a but much The the fully going very a in with is environment, normal world disrupted dynamic are of operational

that look I excited full really upside we’re at with today the the what recovery we’re and offers. delivering, the progress about we’re really additional we’re pleased achieving As and making

a I being to a traffic think that no and it’s in starts two with as the of there’s with growth it, stores doubt just time, to when resumes. that timing that get a of mind when and back strong question path the that behind all we my full open

Operator

comes line Poser of of Williams question Sam the from next Your Trading.

Sam Poser

get makes back-end than timing was can or--sorry, loaded in at issue all my for issue versus ’XX, look Thank sell-through thinking of it a you you--when sell-in mean, this, give could is complete less I exactly--I timing just I’m questions. color fiscal we if on handle around you’re wondering, XX% more about? taking the all to ’XX, gross this more a a past? more that you that what is fiscal us this trying I’m up is for year, some and margin the on coming or just

Jonathan Sinclair

as to this business. fiscal in had look lower that think we we back I way, participation a ’XX, way DTC

at close what the isn’t on fundamentally said, If wholesale for we’ve expectations that we’re of year the same I That you XX% the because, DTC participation year. there. was, pattern it for business revenue our got earlier, look what’s the of the changes secondly said DTC in first to business the and all, That’s this the second half size on a going with of lot as year. bigger, but skew huge really a the

you I do I and that think take the take at in to proportions you I something about wash gross you code think up the margin if zip you’re channel what talking level, about. said those

Operator

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

Jay Sole

Great, have thank much. a three-part you I question. so

Thank timing China to months, that around strategy launch talk about coming footwear that the also we’ll here leverage of bit of in maybe there give visibility? next you. increase Games coming you have the lastly, a bit few way open? the Winter Olympic First brand a a up stores and you that us in can you some when Dani, little in the when little around in detail a will February the more for for plan can will is that, the are see Then

Dani Reiss

your for question. thanks Yes,

that the developing and of very put know strategy, now into I’m of it. our one year. footwear a we’ve and I one happening excited launch about this most of this is footwear things is categories, core exciting energy strategy. new time lot For competencies

to do to in time, three to we’re openings, going information launching store seriously It’s We’re fall. additional far forward about excited get taking that we and sharing that very China more to With when it very about three time closer with I to fall, we’ve perhaps the you and quarter. we an it. launch next before stores and opened this open plan so regard look

of that, the marketing an us the We the for years. we’re as and not last which XX Games. as Games has various work strategy, around official with As the overall in worked for part Olympic participant far question certainly influencers Olympic our

Operator

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

Adrienne Yih

does on product just more utilization, relative Then and to What housekeeping, there’s--you coming just wondering labor facilities, then SG&A much. very you if up. Good the normal That’s number pricing. price about was quantify world the What in shift, like exactly talk you prices you for question. the manufacturing like? can XXXX in are if luxury, Jonathan, at continued we annual one. increases few seeing? have need I pricing it perhaps a those it normalized you mainline in more what past morning, a wondering prices others, seen up, so those efficiencies? like non-luxury, your the efficiency thank [indiscernible] taking years from can also Is more that to for sounds Dani, is like eight capacity look Thank if you taking they’ve my take

Jonathan Sinclair

taking done do and fiscal single of do we and our embedded said something margin, in an throughout first, we what ’XX. the that so the this way has year mid been and it we always both no fiscal and we’ve It’s pricing digits part different we’ve - Okay, that take that’s meaning price we gross the in how that. pandemic, manage ’XX

I aligned we that’s think what against and in you’ll and gave much [indiscernible] assumptions, if what good when with comes what time. I about first I talking have for so quarter, of pretty SG&A, second you the spent growth, the quarter think as rate the feel we’re very a the--you know, we to take when it for spoke last

in seeing on either stay that that to very we evolution right product, our other seeing not we’re rising expecting much algorithm words, AUCs of terms are or faster In slower and of than AURs. AUC; we’re margin therefore the track, are

in product gross very in others efficiencies a that consistent we manage some categories seeing and of a We’re and way that in reinvestment the reflection pattern, is margin.

Operator

Your the of next BTIG. from question comes line Camilo of Lyon

Camilo Lyon

pertains a morning. to some store give the some and guidance. from us markets productivity that’s starting hoping from you bit, how embedded your you’re color that maybe embedded to what what productivity up different levels China that seeing as perspective open good traffic on was I in it Thanks, Jonathan, of that could guidance and in the differs are other little is and

Jonathan Sinclair

We’re happening seeing levels we’ve America’s quite with pleased solid very been very productivity. China what been as what say been we’ve since pleased Canada well. particularly throughout. We’ve we’ve reopening. been seeing in good would with seen of in I

different the own rest mid-April Europe is the starts levels gradually reopen of place and Hong in progressive and gradual U.K. think its animal - of a and looking we’re going saw and what in it came that’s is those know, I What and from Kong seeing. forward improvement still, reopening very productivity, and in Europe we’re thereafter. you a frankly, then fits is for we

Operator

next comes Goldman Brooke the of of question Roach Sachs. from Your line

Brooke Roach

those and additional existing Hi, both consumer your if and customers. on those confidence amongst wondering question. investments experience, penetration some on you morning. investments brand the of that and the could good for optimism I taking the you’re you momentum and ecommerce and perhaps Thank new what Thanks and making provide continuing into you. of fueling update about this are the some thank was year an

Dani Reiss

question. your for you thank Yes,

mind that the want specifically have, they just how We on allows shop. shop and tailored experience to of wants to consumer this differentiation and a invest want a digital which where they consumer really state term continuing that to that us. to are able class, a areas have approaching want are shop them that when be the one that ecommerce map longer between our amount schedule them. physical and is road an very are little It’s we them important to It’s omnichannel very to for the matter omnichannel--providing to continue that with own retail, prioritize them to in to to they to our and investment is clear where and provide short do our experience. We give retail being experience to there’s in omnichannel also our their that term want These consumers. investments significant experience to world in an it’s which a and

Operator

Ohmes Your Securities. with final line question from Robby comes BofA the of

Robby Ohmes

in APAC, first question actually on taking which for up quarter. thanks was XXXX guys, My Hey versus question. in my the

that is half of still you a tell that year similar how pattern rest back XXXX, to about significant talking about overall the could you’re Does be - DTC? on would it and versus Asia think to the of imply mentioned color revenue us APAC China that for guys contributor. thanks. versus was how this XQ You down great, is Any that also

Jonathan Sinclair

the our of APAC beginning at right journey. We’re

and We’re through stores performances stores. experience, by from to great years, China seen mainland into China growth, our continuing both and our we’re only new two that and see Christmas, organically in we’ve three

very how and with that going observe you going, We’re that’s rightly pleased that’s well.

Kong Hong bunch own as is, factors. said on it’s course, I Of opening of other borders just a and it’s animal, now, dependent

to you’ve wholesale a it that both distribution so the as of different when are essentially think comes and South business rest Asia, has and managed that’s markets. very to I got that Korea remember as Japan dynamics Korea,

Dani Reiss

year rate, as and every an ways, prepared an runway we foremost, good are all points, brand I The view affected it to pandemic ways, think, we healthy opportunity different market, healthy for regardless of APAC has and Japan, this I’ll for this and to which there. market first and is rebound a year Yes, lot growing APAC and and it in growth in number extraordinary affected very established at strong there’s way. But better us is ahead. what’s for agree. a overall, of that of and we that expect last I in example add a was a

capture We’re the any serve in and world. to part set up environment of [indiscernible] in any demand

Operator

call the back closing to remarks. management turn over for I’ll

Dani Reiss

for have never I I today our am us about I as as excited as joining said, today. all business. been, you Thank

demand across strategically been categories proven to and excitement with has been expand met ability all has strong and across Our markets.

come. much, As COVID-XX business as well to a forward been great transformed what’s tremendously this much has as the we world, a our you look very for and Thank transformational year have has and to day.

Operator

for call. you concludes This today’s Thank conference participating.

now may You disconnect.

Canada Goose (GOOS) 11 Aug 212022 Q1 Earnings call transcript