Canada Goose's growth is once again tilting toward the Chinese market.
On July 30, Canada Goose reported its first-quarter results for fiscal 2027, covering the period ending June 28.
The company's revenue rose 10.3% year-over-year to CAD 118.9 million, or 8.6% on a constant currency basis, surpassing market expectations of CAD 108.8 million.
By channel, DTC revenue grew 8.6% to CAD 84.8 million, though comparable sales still declined by 3.2%. In-store same-store sales were weak, only partially offset by double-digit growth in e-commerce across regions.
Wholesale was another major contributor to the increase. This channel saw revenue jump 66.5% to CAD 29.8 million, which the company attributed to larger planned orders, increased replenishment from partners, and changes in shipping schedules.
Greater China emerged as the primary growth engine for Canada Goose this quarter.
In the period, Greater China revenue soared 44.2% to CAD 37.5 million, or 39.6% on a constant currency basis. The Asia-Pacific region outside Greater China also recorded a 23.8% revenue increase.
The entire Asia-Pacific market combined generated CAD 53.6 million in revenue, surpassing North America for the first time.
In contrast, U.S. revenue dropped 19%, dragging overall North American revenue down by 4.9%. Revenue in Europe, the Middle East, and Africa fell 5.7%.
The company stated that growth in the Chinese market was driven by both local and tourism consumption. Lightweight jackets, T-shirts, rainwear, and other spring-summer products also created additional purchasing opportunities outside the traditional down jacket season.
This trend continues Canada Goose's recent push toward "year-round" transformation. The company is attempting to reduce its reliance on cold weather and the peak fall-winter season by expanding the share of non-core down categories.
This spring and summer, Canada Goose increased its brand investment, launching the Snow Goose spring capsule collection, the Summer 2026 collection, and the "Natural Intelligence" brand platform. It adopted a dual marketing strategy focused on both brand building and performance conversion.
Management noted that brand appeal continues to strengthen in mainland China and continental Europe, and plans to further boost marketing spending in the second and third quarters to convert brand awareness into strong fall-winter sales.
On the profit side, thanks to higher gross profit and the absence of one-time charges from the prior year, Canada Goose's operating loss narrowed from CAD 158.7 million to CAD 103.8 million. The net loss attributable to shareholders shrank from CAD 125.2 million to CAD 90.8 million.
Despite first-quarter revenue and adjusted loss per share both beating expectations, Canada Goose did not raise its full-year guidance. It still forecasts low single-digit revenue growth for fiscal 2027, with an adjusted EBIT margin of 11% to 12%.
Management also expects consumer demand for this fiscal year to be weaker than the previous year, as core markets continue to face challenges such as slowing foot traffic, declining consumer confidence, and reduced travel activity.
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