Q4 2025 Canada Goose Holdings Inc Earnings Call Transcript
Key Points
- Revenue increased by 7% year-over-year, with strong performance in the direct-to-consumer (DTC) segment, which saw a 7% comparable sales growth.
- Marketing campaigns, such as Sea Mantra and Eyewear, significantly boosted global brand search demand by 19% year-over-year.
- Inventory management improved, with inventory levels down for six consecutive quarters, resulting in cleaner inventory across all channels.
- North America showed exceptional momentum with DTC comps up 17% for the quarter, reflecting successful retail execution strategies.
- Gross margin expanded by 620 basis points in the quarter to 71.3%, driven by a higher proportion of DTC revenue and lower inventory provisioning.
- SG&A as a percent of revenue increased by 220 basis points year-over-year in Q4, indicating higher operating costs.
- The UK and Greater China faced challenging market conditions, with slower traffic impacting sales despite improved conversion rates.
- Wholesale revenue declined year-over-year due to a later shipping window in EMEA and a strategic reduction in wholesale accounts.
- The company did not provide a financial outlook for fiscal 2026 due to uncertainties in the global trade environment and consumer sentiment.
- Despite improvements, the company did not achieve positive comps for the entirety of fiscal 2025, impacting SG&A leverage.
Good morning and welcome to the Canada Goose fourth-quarter fiscal 2025 earnings call. (Operator Instructions) As a reminder, this conference call is being recorded.
I would now like to turn the call over to Neil Bowden, Chief Financial Officer. Thank you. Please go ahead.
Good morning, everyone. With me today are Dani Reiss, our Chairman and CEO; Carrie Baker, President of Brand and Commercial; and Beth Clymer, President, Chief Operating Officer. Today's presentation will contain forward-looking statements that are based on assumptions and therefore subject to risks and uncertainties that could cause actual results to differ materially from those projected.
We undertake no obligation to update these statements except as required by law. You can read about these assumptions, risks and uncertainties in our press release issued this morning, as well as in our filings with the US and Canadian regulators. These documents are also available on the Investor Relations section of our
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